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REGISTERED NUMBER: 09547263 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

INTRINSIC AUTOMOTIVE LIMITED

INTRINSIC AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09547263)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INTRINSIC AUTOMOTIVE LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: D Kirk
Mrs R Kirk





REGISTERED OFFICE: 36a Station Road
New Milton
Hampshire
BH25 6JX





REGISTERED NUMBER: 09547263 (England and Wales)





ACCOUNTANTS: David Shores & Co Ltd
36a Station Road
New Milton
Hampshire
BH25 6JX

INTRINSIC AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09547263)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 376,542 117,960

CURRENT ASSETS
Stocks 434,336 85,450
Debtors 5 1,636 1,429
Cash at bank 68,205 188,202
504,177 275,081
CREDITORS
Amounts falling due within one year 6 587,319 293,949
NET CURRENT LIABILITIES (83,142 ) (18,868 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

293,400

99,092

CREDITORS
Amounts falling due after more than one
year

7

210,451

34,421
NET ASSETS 82,949 64,671

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 82,849 64,571
SHAREHOLDERS' FUNDS 82,949 64,671

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

INTRINSIC AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09547263)

BALANCE SHEET - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





D Kirk - Director


INTRINSIC AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09547263)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Intrinsic Automotive Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

INTRINSIC AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09547263)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Additional notes
Financial Instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 May 2023 - 3,838 4,455
Additions 292,991 - 4,589
Disposals - (3,838 ) -
At 30 April 2024 292,991 - 9,044
DEPRECIATION
At 1 May 2023 - - 2,610
Charge for year - - 1,609
Eliminated on disposal - - -
At 30 April 2024 - - 4,219
NET BOOK VALUE
At 30 April 2024 292,991 - 4,825
At 30 April 2023 - 3,838 1,845

INTRINSIC AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09547263)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 - 169,556 4,279 182,128
Additions 668 35,592 955 334,795
Disposals - (58,900 ) - (62,738 )
At 30 April 2024 668 146,248 5,234 454,185
DEPRECIATION
At 1 May 2023 - 57,612 3,946 64,168
Charge for year 100 25,840 651 28,200
Eliminated on disposal - (14,725 ) - (14,725 )
At 30 April 2024 100 68,727 4,597 77,643
NET BOOK VALUE
At 30 April 2024 568 77,521 637 376,542
At 30 April 2023 - 111,944 333 117,960

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 95,616
Additions 35,592
Disposals (58,900 )
At 30 April 2024 72,308
DEPRECIATION
At 1 May 2023 23,904
Charge for year 15,782
Eliminated on disposal (14,725 )
At 30 April 2024 24,961
NET BOOK VALUE
At 30 April 2024 47,347
At 30 April 2023 71,712

INTRINSIC AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09547263)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,235
Other debtors 1,636 194
1,636 1,429

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8 -
Hire purchase contracts 5,178 690
Payments on account 92 -
Trade creditors 26,095 33,959
Taxation and social security 2,208 19,953
Other creditors 553,738 239,347
587,319 293,949

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 25,602 34,421
Other creditors 184,849 -
210,451 34,421

Amounts falling due in more than five years:

Repayable by instalments
Mortgage 184,849 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 30,780 35,111

9. OTHER FINANCIAL COMMITMENTS

The company has entered into a fixed and floating charge with Lloyds Bank plc over all its property and undertaking, dated 7 June 2016.