Company registration number 12841292 (England and Wales)
INTELLIGENT NUTRACEUTICALS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
INTELLIGENT NUTRACEUTICALS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
INTELLIGENT NUTRACEUTICALS LIMITED
BALANCE SHEET
- 1 -
31 May 2024
31 March 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
14,409
19,212
Tangible assets
4
1,091
1,947
15,500
21,159
Current assets
Stocks
337,014
166,474
Debtors
5
432,570
36,223
Cash at bank and in hand
235,272
52,817
1,004,856
255,514
Creditors: amounts falling due within one year
6
(1,950,511)
(551,187)
Net current liabilities
(945,655)
(295,673)
Total assets less current liabilities
(930,155)
(274,514)
Creditors: amounts falling due after more than one year
7
(443,128)
(443,128)
Net liabilities
(1,373,283)
(717,642)
Capital and reserves
Called up share capital
150,000
150,000
Profit and loss reserves
(1,523,283)
(867,642)
Total equity
(1,373,283)
(717,642)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
INTELLIGENT NUTRACEUTICALS LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 February 2025 and are signed on its behalf by:
S Butt
Director
Company registration number 12841292 (England and Wales)
INTELLIGENT NUTRACEUTICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
Intelligent Nutraceuticals Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20 Gresham Street, London, EC2V 7JE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods net of VAT and trade discounts. Turnover from the sale of goods is recognised as the goods are delivered to the customer.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website
20% straight line
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% straight line
Fixtures and fittings
20% straight line
Computers
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
INTELLIGENT NUTRACEUTICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
2
1
INTELLIGENT NUTRACEUTICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 5 -
3
Intangible fixed assets
Website
£
Cost
At 1 April 2023 and 31 May 2024
24,015
Amortisation and impairment
At 1 April 2023
4,803
Amortisation charged for the period
4,803
At 31 May 2024
9,606
Carrying amount
At 31 May 2024
14,409
At 31 March 2023
19,212
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 May 2024
3,467
Depreciation and impairment
At 1 April 2023
1,520
Depreciation charged in the period
856
At 31 May 2024
2,376
Carrying amount
At 31 May 2024
1,091
At 31 March 2023
1,947
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
390,399
Other debtors
42,171
36,223
432,570
36,223
INTELLIGENT NUTRACEUTICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
12,736
11,998
Taxation and social security
44,064
5,828
Other creditors
1,893,711
533,361
1,950,511
551,187
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
443,128
443,128