ACCOUNTS - Final Accounts

Unaudited Financial Statements

Integral Project Services Ltd

For the year ended 30 April 2024

Registered number: NI068742


Integral Project Services Ltd

Company Information

Directors	David Hetherington
	Heather Hetherington


Company secretary	David Hetherington


Registered number	NI068742


Registered office	Unit 11
	Ravenhill Business Park
	Ravenhill Road
	Belfast
	Co. Antrim
	BT6 8AW


Accountants	Grant Thornton Advisors (NI) LLP
	Chartered Accountants
	12 - 15 Donegall Square West
	Belfast
	BT1 6JH


Bankers	Danske Bank
	Main Street
	Lisnaskea
	Enniskillen
	County Fermanagh


Integral Project Services Ltd

Contents

	Page
Accountants' report	1
Balance sheet	2
Notes to the financial statements	3 - 7

Independent Accountant's Report to the directors of the unaudited financial statements of Integral Project Services Ltd for the Year Ended 30 April 2024

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Integral Project Services Ltd for the year ended 30 April 2024, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of Integral Project Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Integral Project Services Ltd, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Integral Project Services Ltd and its directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with International Standard on Related Services 4410 (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the year ended 30 April 2024 and you have acknowledged on the Balance sheet as at 30 April 2024 your duty to ensure that Integral Project Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Integral Project Services Ltd is exempt from the statutory audit requirement for the year ended 30 April 2024.

We have not been instructed to carry out an audit or review the financial statements of Integral Project Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Grant Thornton Advisors (NI) LLP
Chartered Accountants 12 - 15 Donegall Square West Belfast BT1 6JH

Date: 7 April 2025

Page 1


Integral Project Services Ltd Registered number:NI068742

Balance sheet

As at 30 April 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	12,283		15,785
Cash at bank and in hand	6	362		597
		12,645		16,382
Creditors: amounts falling due within one year	7	(88,340)		(120,479)
Net current liabilities			(75,695)		(104,097)
Total assets less current liabilities			(75,695)		(104,097)

Net liabilities			(75,695)		(104,097)

Capital and reserves
Called up share capital	8	100	100
Profit and loss account	9	(75,795)	(104,197)
		(75,695)	(104,097)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 April 2025.

David Hetherington

Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2


Integral Project Services Ltd

Notes to the financial statements

For the Year Ended 30 April 2024

1.	General information

Integral Project Services Limited is a private limited company which is limited by shares and incorporated in Northern Ireland. The registered office is Unit 11, Ravenhill Business Park, Ravenhill Road, Belfast, BT6 8AW.
The principal activity of the company is that of information technology services.

2.Accounting policies

2.1

Basis of preparation of financial statements

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

During the year the company made a profit of £28,402 (2023: loss of £24,319), and has net liabilities of £75,695 (2023: £104,097). Included in creditors is an amount payable to Industrial Process Systems Limited of £61,602 (2023: £61,276), a company under common control of the director/shareholder Mr D Hetherington. The company is dependent on the continued support of the director/shareholder. The director and shareholder has indicated that he will not seek repayments of the amounts due and will support funding until the company has the ability to repay. In the light of the above, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Page 3


Integral Project Services Ltd

Notes to the financial statements

For the Year Ended 30 April 2024

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4


Integral Project Services Ltd

Notes to the financial statements

For the Year Ended 30 April 2024

2.Accounting policies (continued)

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Taxation

Tax is recognised in profit or loss 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 balance sheet date in the countries where the Company operates and generates income.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5


Integral Project Services Ltd

Notes to the financial statements

For the Year Ended 30 April 2024

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Recoverability of debtors
Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of debtors are considered.

Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Debtors

					2024	2023
					£	£


Trade debtors	9,457	12,794
Other debtors	-	2,427
Prepayments and accrued income	2,826	564
	12,283	15,785

6.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	362	597
	362	597

Page 6


Integral Project Services Ltd

Notes to the financial statements

For the Year Ended 30 April 2024

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	12,981	15,865
Amounts owed to connected companies	61,602	61,276
Other taxation and social security	8,116	13,869
Other creditors	-	21,112
Accruals and deferred income	5,641	8,357
	88,340	120,479

Amounts owed to connected companies are unsecured, interest free and repayable on demand.
Trade and other creditors are payable at various dates over the coming months in accordance with the
suppliers’ usual and customary credit terms.
Corporation tax and other taxes including social insurance are repayable at various dates over the coming
months in accordance with the applicable statutory provisions.

8.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

100 (2023 - 100) Ordinary shares of £1.00 each	100	100

Reserves

Profit and loss account

Includes all current and prior period retained profits and losses.

10.	Related party transactions
	The company had the following related party transactions in the year: In the year the company had net transactions of £326 (2023: £7,431) with a company that is connected by common control. At the balance sheet date the amount owed to the company was £61,602 (2023: £61,276).

Page 7