NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Intercel (UK) Limited is a private limited liability company registered in England and Wales. Its registered
office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the company is the sale of information technology equipment.
The company's functional and presentational currency is £ sterling.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
The company made a loss for the year and at the reporting date it has net current liabilities and net liabilities. The ultimate parent company has confirmed that it has the ability and is willing to support the company so that it will be able to meet its financial obligations as and when they fall due for at least twelve months from the date of approval of these accounts. On this basis the directors consider that preparing the accounts as a going concern is appropriate.
Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an
item of income and expense recognised as other comprehensive income or to an item recognised
directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not
reversed by the Statement of Financial Position date, except that:
a) The recognition of deferred tax assets is limited to the extent that it is probable that they will be
recovered against the reversal of deferred tax liabilities or other future taxable profits; and
b) Any deferred tax balances are reversed if and when all conditions for retaining associated tax
allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is
determined using tax rates and laws that have been enacted or substantively enacted by the
Statement of Financial Position Date.
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