Company Registration No. SC512472 (Scotland)
I.P.S TECHNICAL SERVICES LTD
Unaudited accounts
for the year ended 31 August 2024
I.P.S TECHNICAL SERVICES LTD
Unaudited accounts
Contents
I.P.S TECHNICAL SERVICES LTD
Company Information
for the year ended 31 August 2024
Company Number
SC512472 (Scotland)
Registered Office
71A WRIGHTS LANE
HIGH STREET
ALNESS
IV17 0SH
SCOTLAND
Accountants
Scott Accountancy Services
119 Lanchester Avenue
Gateshead
Tyne & Wear
NE9 7AN
I.P.S TECHNICAL SERVICES LTD
Statement of financial position
as at 31 August 2024
Cash at bank and in hand
71,216
21,222
Creditors: amounts falling due within one year
(70,395)
(9,064)
Net current assets
5,416
16,753
Called up share capital
1
1
Profit and loss account
7,519
16,752
Shareholders' funds
7,520
16,753
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 November 2024 and were signed on its behalf by
Iain Stephenson
Director
Company Registration No. SC512472
I.P.S TECHNICAL SERVICES LTD
Notes to the Accounts
for the year ended 31 August 2024
I.P.S TECHNICAL SERVICES LTD is a private company, limited by shares, registered in Scotland, registration number SC512472. The registered office is 71A WRIGHTS LANE, HIGH STREET, ALNESS, IV17 0SH, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
33.3% Straight Line
Dividends & Directors Loan
The director acknowledges that the company had an exceedingly good trading period, he fully expects this to continue with work lined up for the majority of the following trading period.
Due to personal circumstances and future plans he was able to, and chose to, only take a portion of his remuneration and has retained the remainder in a loan account owing to him, he also allowed his shareholders dividend payment from post tax profits to be retained within the company with the intention of a future possible drawdown on the retention.
I.P.S TECHNICAL SERVICES LTD
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2023
-
998
998
Additions
1,299
1,499
2,798
At 31 August 2024
1,299
1,499
2,798
At 1 September 2023
-
998
998
Charge for the year
194
500
694
At 31 August 2024
194
500
694
At 31 August 2024
1,105
999
2,104
Amounts falling due within one year
Accrued income and prepayments
4,595
4,595
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,103
3,803
Taxes and social security
9,919
5,261
Proposed dividends
52,000
-
Loans from directors
5,473
-
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).