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Registration number: 04598488

Ingenitech Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Ingenitech Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 7

 

Ingenitech Limited

Company Information

Directors

Mr Christopher John Halicki

Mrs Karen Edith K E Halicki

Company secretary

Mr Christopher J Halicki

Registered office

6 Coral Avenue
Cheadle Hulme
Stockport
Cheshire
SK8 6HJ

Accountants

Bright Partnership Limited
26 Edward Court,
Broadheath
Altrincham
WA14 5GL

 

Ingenitech Limited

(Registration number: 04598488)
Statement of Financial Position as at 30 November 2024
 

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

12,278

15,367

Current assets

 

Stocks

40,000

70,928

Debtors

5

1,497

39,291

Cash at bank and in hand

 

43,875

43,026

 

85,372

153,245

Creditors: Amounts falling due within one year

6

(59,971)

(92,949)

Net current assets

 

25,401

60,296

Net assets

 

37,679

75,663

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

37,579

75,563

Shareholders' funds

 

37,679

75,663

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 5 February 2025 and signed on its behalf by:
 

.........................................
Mr Christopher John Halicki
Director

 

Ingenitech Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
6 Coral Avenue
Cheadle Hulme
Stockport
Cheshire
SK8 6HJ

These financial statements were authorised for issue by the Board on 5 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ingenitech Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Computer equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Ingenitech Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Ingenitech Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

798

-

798

Additions

916

15,380

16,296

At 30 November 2024

1,714

15,380

17,094

Depreciation

At 1 December 2023

274

537

811

Charge for the year

294

3,711

4,005

At 30 November 2024

568

4,248

4,816

Carrying amount

At 30 November 2024

1,146

11,132

12,278

At 30 November 2023

524

14,843

15,367

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

37,957

Prepayments

1,497

1,334

 

1,497

39,291

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

107

13,101

Taxation and social security

13,061

22,441

Accruals and deferred income

4,475

4,475

Other creditors

42,328

52,932

59,971

92,949

 

Ingenitech Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100