| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| Intelect Mechanical Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| Intelect Mechanical Limited |
| Intelect Mechanical Limited (Registered number: 05412348) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Intelect Mechanical Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 3 Kingfisher Court |
| Bowesfield Park |
| Stockton on Tees |
| TS18 3EX |
| Intelect Mechanical Limited (Registered number: 05412348) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Revaluation reserve | 9 |
| Capital redemption reserve | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Intelect Mechanical Limited (Registered number: 05412348) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Intelect Mechanical Limited is a private limited company limited by shares incorporated in England, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. |
| The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 Section 1A "The Financial Reporting Standard applicable in the UK and the Republic of Ireland" (FRS102 Section 1A) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Significant judgements and estimates |
| In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period of the revision, if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
| Rendering of services |
| When the outcome of a transaction can be estimated reliably, turnover from services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to actual costs compared to expected total costs. |
| Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
| When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Intelect Mechanical Limited (Registered number: 05412348) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 1. | ACCOUNTING POLICIES - continued |
| Taxation |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Employee benefits |
| When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
| The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Amounts recoverable on contracts |
| Amounts recoverable on contracts are stated at cost plus attributable profit to the extent that such profit is reasonably certain and after making provision for any foreseeable losses in completing the contracts, less payments on account received. |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Intelect Mechanical Limited (Registered number: 05412348) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 3. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2024 - £ 100,000 ) which is not depreciated. |
| Cost or valuation at 31 March 2025 is represented by: |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2017 | 25,841 | - | - | - | 25,841 |
| Cost | 1,092,073 | 641,107 | 32,950 | 161,528 | 1,927,658 |
| 1,117,914 | 641,107 | 32,950 | 161,528 | 1,953,499 |
| If the Freehold property had not been revalued they would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 1,092,073 | 1,092,073 |
| Aggregate depreciation | 187,840 | 187,840 |
| Value of land in freehold land and buildings | 904,233 | 904,233 |
| Freehold property was valued by the directors on a fair value basis on transition to FRS 102. This valuation has been treated as deemed cost and is being depreciated in line with the accounting policy from the date of transition. |
| Intelect Mechanical Limited (Registered number: 05412348) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 3. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST OR VALUATION |
| Additions |
| At 31 March 2025 |
| DEPRECIATION |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| Directors' current accounts | 152 | 12,097 |
| Taxation |
| Prepayments |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation |
| Social security and other taxes |
| Directors' current accounts | - | 354 |
| Accruals and deferred income |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts | 284,000 | - |
| The hire purchase is secured over the asset which it relates to. |
| Intelect Mechanical Limited (Registered number: 05412348) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 810 | 810 |
| Ordinary B | £1 | 200 | 200 |
| 1,010 | 1,010 |
| 9. | RESERVES |
| Capital |
| Retained | Revaluation | redemption |
| earnings | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1 April 2024 | 1,444,219 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 March 2025 | 1,469,409 |
| Retained earnings |
| Retained earnings represents cumulative profits and losses net of dividends and other adjustments. |
| Revaluation reserve |
| The revaluation reserve represents the effect of revaluations of the freehold property on transition to FRS102. |
| Capital redemption reserve |
| A statutory, non distributable reserve into which amounts are transferred following redemption on purchase of a company's own shares out of distributable profits. |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| Included in debtors are the following loans to directors: |
At 1 April 2024 |
Amount advanced |
Amount repaid |
At 31 March 2025 |
| £ | £ | £ | £ |
| Director 1 | 12,097 | 9 | (12,028 | ) | 78 |
| Director 2 | - | 2,675 | (2,601 | ) | 74 |
| Total | 12,097 | 2,684 | (14,629 | ) | 152 |
| The above loans are unsecured, interest free and repayable on demand. |
| Related Party Disclosure |
| A company under common control has the following related party transactions during the year ended 31 March 2025: |
| £ |
| Trade debtors outstanding as at 31 March 2025 | 525,113 |
| Trade creditors outstanding as at 31 March 2025 | (57,812 | ) |
| Sales in the year to 31 March 2025 | 1,178,975 |
| Purchases in the year to 31 March 2025 | (221,478 | ) |