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REGISTERED NUMBER: 05184314 (England and Wales)












Intelligent Drives Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024






Intelligent Drives Limited (Registered number: 05184314)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Intelligent Drives Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: N S Buck
L J Buck





SECRETARY: L J Buck





REGISTERED OFFICE: The Cedars
Wykes Lane
Donington
Spalding
Lincolnshire
PE11 4SD





REGISTERED NUMBER: 05184314 (England and Wales)





ACCOUNTANTS: Clarkson Cleaver & Bowes Ltd
8a Wingbury Courtyard
Business Village
Wingrave
Buckinghamshire
HP22 4LW

Intelligent Drives Limited (Registered number: 05184314)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 3,031 4,041

CURRENT ASSETS
Stocks 14,865 23,000
Debtors 5 46,445 38,910
Cash at bank 26,815 22,168
88,125 84,078
CREDITORS
Amounts falling due within one
year

6

59,111

63,821
NET CURRENT ASSETS 29,014 20,257
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,045

24,298

CREDITORS
Amounts falling due after more
than one year

7

(10,833

)

(20,833

)

PROVISIONS FOR LIABILITIES 8 (758 ) (1,010 )
NET ASSETS 20,454 2,455

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 20,452 2,453
SHAREHOLDERS' FUNDS 20,454 2,455

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Intelligent Drives Limited (Registered number: 05184314)

Balance Sheet - continued
31 July 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:





N S Buck - Director


Intelligent Drives Limited (Registered number: 05184314)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Intelligent Drives Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Computer equipment - 33.33% straight line

Stocks
Stock and work in progress are valued at the lower cost of net realisable value, after making due allowances for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted and that are expected to apply to the reversal of the timing difference.

Current or deferred taxation liabilities are not discounted.

Pension costs and other post-retirement benefits
The pension costs charged in the financial statements represent the contributions payable by the company for the year.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Intelligent Drives Limited (Registered number: 05184314)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 44,156 11,224 55,380
DEPRECIATION
At 1 August 2023 40,115 11,224 51,339
Charge for year 1,010 - 1,010
At 31 July 2024 41,125 11,224 52,349
NET BOOK VALUE
At 31 July 2024 3,031 - 3,031
At 31 July 2023 4,041 - 4,041

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,533 23,940
Other debtors 17,912 14,970
46,445 38,910

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 139 7,924
Taxation and social security 8,492 5,677
Other creditors 40,480 40,220
59,111 63,821

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 10,833 20,833

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 758 1,010

Intelligent Drives Limited (Registered number: 05184314)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 August 2023 1,010
Provided during year (252 )
Balance at 31 July 2024 758

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the total amount owed by the Directors to the company stood at £17,768 (2023: £14,699).

During the financial year ended 31 July 2024 the Directors paid interest to the company totalling £181 (2023: £260). This has been calculated using an average interest rate.