Company No: 04027333 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	12,636		23,312
Tangible assets	4	123,524		165,468
Investments	5	1		1
		136,161		188,781
Current assets
Stocks		84,200		72,380
Debtors	6	234,974		45,890
Cash at bank and in hand		12,775		26,108
		331,949		144,378
Creditors: amounts falling due within one year	7	( 425,329)		( 303,722)
Net current liabilities		(93,380)		(159,344)
Total assets less current liabilities		42,781		29,437
Provision for liabilities		( 23,470)		( 32,108)
Net assets/(liabilities)		19,311		( 2,671)
Capital and reserves
Called-up share capital	8	2		2
Profit and loss account		19,309		( 2,673 )
Total shareholders' funds/(deficit)		19,311		( 2,671)

For the financial year ending 30 September 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 financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Intelligent Fixings Limited (registered number: 04027333) were approved and authorised for issue by the Board of Directors on 31 March 2025. They were signed on its behalf by:

Mrs H Thomson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Intelligent Fixings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 78-79 Long Lane, London, EC1A 9ET, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Foreign currency

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Turnover

Turnover represents the value of goods sold during the year, net of Value Added Tax and trade discounts. Turnover is recognised when goods are physically delivered to the customer.

Uninvoiced deliveries at the year end are included in accrued income. Invoiced deliveries are included in debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods have been delivered.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences	5 years straight line
Website costs	3 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Fixtures and fittings	25 % reducing balance
	5 years straight line

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances; and
• Investments in unlisted entities.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Details for the accounting policy for investments are given above.

Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Intangible assets

	Trademarks, patents and licences		Website costs		Total
	£		£		£
Cost
At 01 October 2023	13,291		43,896		57,187
Additions	8,265		0		8,265
At 30 September 2024	21,556		43,896		65,452
Accumulated amortisation
At 01 October 2023	4,611		29,264		33,875
Charge for the financial year	4,309		14,632		18,941
At 30 September 2024	8,920		43,896		52,816
Net book value
At 30 September 2024	12,636		0		12,636
At 30 September 2023	8,680		14,632		23,312

4. Tangible assets

	Plant and machinery		Fixtures and fittings		Total
	£		£		£
Cost
At 01 October 2023	545,659		52,655		598,314
At 30 September 2024	545,659		52,655		598,314
Accumulated depreciation
At 01 October 2023	390,372		42,474		432,846
Charge for the financial year	38,825		3,119		41,944
At 30 September 2024	429,197		45,593		474,790
Net book value
At 30 September 2024	116,462		7,062		123,524
At 30 September 2023	155,287		10,181		165,468

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 October 2023	1
At 30 September 2024	1
Carrying value at 30 September 2024	1
Carrying value at 30 September 2023	1

6. Debtors

	2024		2023
	£		£
Trade debtors	52,993		40,838
Other debtors	181,981		5,052
	234,974		45,890

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	22,423		24,026
Amounts owed to Group undertakings (note 9)	393,875		225,186
Taxation and social security	4,281		0
Other creditors	4,750		54,510
	425,329		303,722

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 0.01 each	2		2

9. Related party transactions

Transactions with the entity’s directors (or members of its governing body)

Amounts owed by directors

	2024		2023
	£		£
Brought forward	0		405,801
Advances to directors	180,472		1,874
Repayments by directors	0		(407,675)
	180,472		0