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REGISTERED NUMBER: SC378560 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

IGTL Technology Ltd

IGTL Technology Ltd (Registered number: SC378560)






Contents of the Financial Statements
for the year ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IGTL Technology Ltd

Company Information
for the year ended 30 September 2024







DIRECTORS: R J Hyman
R A Leask
P A Lowe





SECRETARY:





REGISTERED OFFICE: 4 Broad Street
Kirkwall
Orkney
KW15 1NX





REGISTERED NUMBER: SC378560 (Scotland)





ACCOUNTANTS: Foubister & Bain
4 Broad Street
Kirkwall
Orkney
KW15 1NX

IGTL Technology Ltd (Registered number: SC378560)

Balance Sheet
30 September 2024

2023 2024
£    £    Notes £   
FIXED ASSETS
25,187 Intangible assets 4 38,454
42,810 Tangible assets 5 56,754
100 Investments 6 100
68,097 95,308

CURRENT ASSETS
68,000 Stocks -
2,997 Debtors 7 79,956
126,494 Cash at bank 195,405
197,491 275,361
CREDITORS
12,434 Amounts falling due within one year 8 67,049
185,057 NET CURRENT ASSETS 208,312

253,154
TOTAL ASSETS LESS CURRENT
LIABILITIES

303,620

CAPITAL AND RESERVES
316 Called up share capital 316
700,084 Share Premium 700,084
(447,246 ) Retained earnings (396,780 )
253,154 303,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

IGTL Technology Ltd (Registered number: SC378560)

Balance Sheet - continued
30 September 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 27 June 2025 and were signed on its behalf by:





R J Hyman - Director


IGTL Technology Ltd (Registered number: SC378560)

Notes to the Financial Statements
for the year ended 30 September 2024

1. STATUTORY INFORMATION

IGTL Technology Ltd is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and Licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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
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 by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

IGTL Technology Ltd (Registered number: SC378560)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023 25,187
Additions 13,267
At 30 September 2024 38,454
NET BOOK VALUE
At 30 September 2024 38,454
At 30 September 2023 25,187

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 69,586
Additions 28,133
At 30 September 2024 97,719
DEPRECIATION
At 1 October 2023 26,776
Charge for year 14,189
At 30 September 2024 40,965
NET BOOK VALUE
At 30 September 2024 56,754
At 30 September 2023 42,810

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023
and 30 September 2024 100
NET BOOK VALUE
At 30 September 2024 100
At 30 September 2023 100

IGTL Technology Ltd (Registered number: SC378560)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,804 -
Other debtors 70,152 2,997
79,956 2,997

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 14,180 1,134
Taxation 41,205 -
Other creditors 11,664 11,300
67,049 12,434