Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-313333truefalse2024-01-01No description of principal activityfalsefalse 03507625 2024-01-01 2024-12-31 03507625 2023-01-01 2023-12-31 03507625 2024-12-31 03507625 2023-12-31 03507625 2023-01-01 03507625 c:Director1 2024-01-01 2024-12-31 03507625 d:Buildings 2024-01-01 2024-12-31 03507625 d:Buildings 2024-12-31 03507625 d:Buildings 2023-12-31 03507625 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03507625 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 03507625 d:Buildings d:LongLeaseholdAssets 2024-12-31 03507625 d:Buildings d:LongLeaseholdAssets 2023-12-31 03507625 d:PlantMachinery 2024-01-01 2024-12-31 03507625 d:PlantMachinery 2024-12-31 03507625 d:PlantMachinery 2023-12-31 03507625 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03507625 d:MotorVehicles 2024-01-01 2024-12-31 03507625 d:MotorVehicles 2024-12-31 03507625 d:MotorVehicles 2023-12-31 03507625 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03507625 d:FurnitureFittings 2024-01-01 2024-12-31 03507625 d:FurnitureFittings 2024-12-31 03507625 d:FurnitureFittings 2023-12-31 03507625 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03507625 d:ComputerEquipment 2024-01-01 2024-12-31 03507625 d:ComputerEquipment 2024-12-31 03507625 d:ComputerEquipment 2023-12-31 03507625 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03507625 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03507625 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 03507625 d:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 03507625 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 03507625 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 03507625 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 03507625 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 03507625 d:CurrentFinancialInstruments 2024-12-31 03507625 d:CurrentFinancialInstruments 2023-12-31 03507625 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 03507625 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03507625 d:ShareCapital 2024-12-31 03507625 d:ShareCapital 2023-12-31 03507625 d:ShareCapital 2023-01-01 03507625 d:SharePremium 2024-01-01 2024-12-31 03507625 d:SharePremium 2024-12-31 03507625 d:SharePremium 2023-12-31 03507625 d:SharePremium 2023-01-01 03507625 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 03507625 d:RetainedEarningsAccumulatedLosses 2024-12-31 03507625 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 03507625 d:RetainedEarningsAccumulatedLosses 2023-12-31 03507625 d:RetainedEarningsAccumulatedLosses 2023-01-01 03507625 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-01-01 2024-12-31 03507625 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-12-31 03507625 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 03507625 c:OrdinaryShareClass1 2024-01-01 2024-12-31 03507625 c:OrdinaryShareClass1 2024-12-31 03507625 c:OrdinaryShareClass1 2023-12-31 03507625 c:FRS102 2024-01-01 2024-12-31 03507625 c:Audited 2024-01-01 2024-12-31 03507625 c:FullAccounts 2024-01-01 2024-12-31 03507625 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03507625 d:WithinOneYear 2024-12-31 03507625 d:WithinOneYear 2023-12-31 03507625 d:BetweenOneFiveYears 2024-12-31 03507625 d:BetweenOneFiveYears 2023-12-31 03507625 d:MoreThanFiveYears 2024-12-31 03507625 d:MoreThanFiveYears 2023-12-31 03507625 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03507625 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 03507625 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 03507625 6 2024-01-01 2024-12-31 03507625 d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 03507625 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 03507625 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 03507625 d:OtherDeferredTax 2024-12-31 03507625 d:OtherDeferredTax 2023-12-31 03507625 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2024-01-01 2024-12-31 03507625 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-01-01 2024-12-31 03507625 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03507625










IST INTECH LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
IST INTECH LIMITED
REGISTERED NUMBER: 03507625

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
616,779
592,374

Tangible assets
 6 
474,446
533,067

  
1,091,225
1,125,441

Current assets
  

Stocks
 7 
1,590,772
1,922,570

Debtors
 8 
930,799
1,281,725

Cash at bank and in hand
 9 
298,116
240,223

  
2,819,687
3,444,518

Creditors: amounts falling due within one year
  
(556,974)
(1,032,618)

Net current assets
  
 
 
2,262,713
 
 
2,411,900

Total assets less current liabilities
  
3,353,938
3,537,341

Provisions for liabilities
  

Deferred tax
 10 
(182,556)
(220,350)

Other provisions
 11 
(37,500)
(33,750)

  
 
 
(220,056)
 
 
(254,100)

Net assets
  
3,133,882
3,283,241


Capital and reserves
  

Called up share capital 
 13 
1,000
1,000

Share premium account
 12 
2,079
2,079

Profit and loss account
 12 
3,130,803
3,280,162

  
3,133,882
3,283,241


Page 1

 
IST INTECH LIMITED
REGISTERED NUMBER: 03507625

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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 by: 




S Roberts
Director

Date: 3 April 2025

Page 2

 
IST INTECH LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2024
1,000
2,079
3,280,162
3,283,241



Loss for the year
-
-
(149,359)
(149,359)


At 31 December 2024
1,000
2,079
3,130,803
3,133,882



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
1,000
2,079
3,143,378
3,146,457



Profit for the year
-
-
437,157
437,157

Dividends: Equity capital
-
-
(300,373)
(300,373)


At 31 December 2023
1,000
2,079
3,280,162
3,283,241


The notes on pages 4 to 15 form part of these financial statements.

Page 3

 
IST INTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

IST Intech Limited is a private limited Company incorporated and domiciled in England and Wales with registered number 03507625. The Company's registered office is 10 Wates Way, Banbury, England, OX16 3TS.
The principal activity of the Company is the design and development of ultra-violet curing solutions.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The annual financial statements have been prepared on the basis of accounting policies applicable to a going concern. 
The Company has prepared forecasts and projections using what the directors believe to be reasonable assumptions relating to the Company's financial performance, current financial position and existing financial resources for a period of at least 12 months from the date of singing of the financial statements which show the Company to be a going concern. Based on the above, the directors are of the opinion that the going concern principle is applicable and that the Company have the necessary resources to continue as a going concern for the foreseeable future.

 
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.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
IST INTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
10%
Straight line
Long-term leasehold property
-
10%
Straight line
Plant and machinery
-
33%
Straight line
Motor vehicles
-
25%
Straight line
Fixtures and fittings
-
33%
Straight line
Computer equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

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.

 
2.7

Development costs

Development costs are capitalised within intangible assets where they can be identified with a specific product or project anticipated to produce future benefits, and are amortised on the straight line basis over the anticipated life of the benefits arising from the completed product or project.
Deferred research and development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance of any related research and development is written off to the Profit and Loss Account.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 5

 
IST INTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 6

 
IST INTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.13

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.

 
2.14

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.15

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.16

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.

Page 7

 
IST INTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
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
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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.19

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 8

 
IST INTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.20

Foreign currency translation

Functional and presentation currency

The Company's functional currency and presentational currency is GBP, rounded to the nearest pound.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.21

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 9

 
IST INTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those invoicing estimates) have had the most significant effect on amounts recognised in the financial statements.
Intangible fixed assets
Development costs are capitalised in accordance with the accounting policy. Initial capitalisation of costs is based on management's judgement that technological and feasibility is confirmed, usually when a product development project has reached a defined milestone according to an established project management model. In determining the amounts to be capitalised, management makes assumptions regarding the expected future cash generation of the project, discount rates to be applied and the expected period of benefits.
Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.
Stock provisions
As part of the identification and measurement of assets and liabilities, the Company has recognised a provision for impaired stock. In determining the fair value of the provision, assumptions and estimates are made in relation to future product sales.
Taxation
Deferred tax assets are recognised for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits, together with future tax planning strategies.
I
nvestments in subsidiary undertakings
The carrying amount of the Company’s investments are reviewed at each balance sheet date to determine whether there is any indication of impairment. Any impairment loss is recognised when the carrying amount of the investment exceeds the investment value. Impairment losses are recognised in the statement of comprehensive income.
Amounts owed by group undertakings
The recoverability of the Company's intercompany balances are reviewed at each balance sheet date. If the balance is determined to be unrecoverable, a bad debt expense is recognised to reduce the balance. Bad debts are recognised in the statement of comprehensive income.


4.


Employees

The average monthly number of employees, including directors, during the year was 33 (2023 - 33).

Page 10

 
IST INTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Intangible assets




Patents
Development expenditure
Total

£
£
£



Cost


At 1 January 2024
5,273
1,508,556
1,513,829


Additions
-
173,111
173,111


Disposals
-
(41,338)
(41,338)



At 31 December 2024

5,273
1,640,329
1,645,602



Amortisation


At 1 January 2024
5,273
916,182
921,455


Charge for the year
-
124,767
124,767


On disposals
-
(17,399)
(17,399)



At 31 December 2024

5,273
1,023,550
1,028,823



Net book value



At 31 December 2024
-
616,779
616,779



At 31 December 2023
-
592,374
592,374



Page 11
 


 
IST INTECH LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


6.


Tangible fixed assets






Leasehold improvements
Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 January 2024
505,438
22,434
743,799
22,133
134,280
269,661
1,697,745


Additions
26,399
-
86,574
-
3,024
2,336
118,333


Disposals
(293,867)
-
(96,966)
-
(82,730)
(165,918)
(639,481)



At 31 December 2024

237,970
22,434
733,407
22,133
54,574
106,079
1,176,597



Depreciation


At 1 January 2024
299,158
561
523,434
6,455
89,160
245,910
1,164,678


Charge for the year on owned assets
23,797
2,243
109,628
5,534
16,043
9,500
166,745


Disposals
(293,867)
-
(90,387)
-
(79,100)
(165,918)
(629,272)



At 31 December 2024

29,088
2,804
542,675
11,989
26,103
89,492
702,151



Net book value



At 31 December 2024
208,882
19,630
190,732
10,144
28,471
16,587
474,446



At 31 December 2023
206,280
21,873
220,365
15,678
45,120
23,751
533,067

Page 12
 
IST INTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Stocks

2024
2023
£
£

Raw materials and consumables
1,199,494
1,568,084

Work in progress (goods to be sold)
70,509
84,034

Finished goods and goods for resale
320,769
270,452

1,590,772
1,922,570


Included within raw materials and consumables is a provision for the impairment of stock of £344,010 (2023: £300,003).

8.


Debtors

2024
2023
£
£



Trade debtors
759,832
708,298

Amounts owed by group undertakings
30,625
430,017

Other debtors
49,577
61,410

Prepayments and accrued income
90,765
82,000

930,799
1,281,725


The amounts owed by group undertakings are non-interest bearing and repayable on demand.


9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
298,116
240,223

298,116
240,223



10.


Deferred taxation




2024
2023


£

£






At beginning of year
(220,350)
(214,463)


Charged to profit or loss
37,794
(5,887)



At end of year
(182,556)
(220,350)

Page 13

 
IST INTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(183,573)
(214,463)

Short term timing differences
1,017
(5,887)

(182,556)
(220,350)


11.


Provisions




Dilapidation provision

£





At 1 January 2024
33,750


Charged to profit or loss
3,750



At 31 December 2024
37,500

The dilapidations provision at the end of the current year represents management's estimate of the reinstatement cost of its premises at 10 Wates Way, Banbury.


12.


Reserves

Share premium account

The share premium reserve includes all amounts paid in excess of nominal value for ordinary shares issued less the cost of issuing the shares.

Profit and loss account

The profit and loss account includes all current and prior year period profits and losses.


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 14

 
IST INTECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held from those of the Company in an independently administered fund. The pension cost charge represents pensions payable by the Company to the fund and amounted to £84,995 (2023: £82,800). Contributions totaling £4,028 (2023: 5,312) were payable to the fund at the balance sheet date. 


15.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
181,930
140,118

Later than 1 year and not later than 5 years
725,934
720,005

Later than 5 years
667,939
846,056

1,575,803
1,706,179


16.


Related party transactions

During the year ended 31 December 2024, the Company made sales of £581,473 (2023: £1,127,897) to other companies within METZ BETEILUNGEN GmbH group the immediate parent of the Company. At the balance sheet date the Company was owed £29,162 (2023: £418,822). The Company also made purchases of £279,732 (2023: £352,334) from other companies within METZ BETEILUNGEN GmbH group of companies during the year. At the balance sheet date the Company owed £40,621 (2023: £73,813) to METZ BETEILUNGEN GmbH group companies.
During the year, the Company declared dividends of £nil (2023: £300,373) to the shareholders of the Company. 


17.


Controlling party

METZ BETEILUNGEN GmbH, incorporated in Germany, is the immediate and ultimate controlling party and holds 100% of the shareholding of the Company and its subsidiaries. 


18.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 4 April 2025 by James Pitt BA BFP FCA (Senior statutory auditor) on behalf of James Cowper Kreston Audit.


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