iTech Diagnostics Limited 11181397 false 2024-03-01 2025-02-28 2025-02-28 The principal activity of the company is software development and consultancy. Digita Accounts Production Advanced 6.30.9574.0 true 11181397 2024-03-01 2025-02-28 11181397 2025-02-28 11181397 core:RetainedEarningsAccumulatedLosses 2025-02-28 11181397 core:ShareCapital 2025-02-28 11181397 core:CurrentFinancialInstruments 2025-02-28 11181397 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 11181397 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-02-28 11181397 core:OfficeEquipment 2025-02-28 11181397 bus:SmallEntities 2024-03-01 2025-02-28 11181397 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 11181397 bus:FilletedAccounts 2024-03-01 2025-02-28 11181397 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 11181397 bus:Director1 2024-03-01 2025-02-28 11181397 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 11181397 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-01 2025-02-28 11181397 core:ComputerEquipment 2024-03-01 2025-02-28 11181397 core:OfficeEquipment 2024-03-01 2025-02-28 11181397 countries:AllCountries 2024-03-01 2025-02-28 11181397 2024-02-29 11181397 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 11181397 core:OfficeEquipment 2024-02-29 11181397 2023-03-01 2024-02-29 11181397 2024-02-29 11181397 core:RetainedEarningsAccumulatedLosses 2024-02-29 11181397 core:ShareCapital 2024-02-29 11181397 core:CurrentFinancialInstruments 2024-02-29 11181397 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 11181397 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 11181397 core:OfficeEquipment 2024-02-29 iso4217:GBP xbrli:pure

Registration number: 11181397

iTech Diagnostics Limited
Unaudited Financial Statements
for the Year Ended 28 February 2025

iTech Diagnostics Limited

(Registration number: 11181397)
Balance Sheet as at 28 February 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 3 | 67,414 | 67,414
Tangible assets | 4 | 2,330 | 298
|  | 69,744 | 67,712
Current assets |  |  |
Debtors | 5 | 94,990 | 23,558
Cash at bank and in hand |  | 13 | 228
|  | 95,003 | 23,786
Creditors: Amounts falling due within one year | 6 | (30,321) | (8,488)
Net current assets |  | 64,682 | 15,298
Net assets |  | 134,426 | 83,010
Capital and reserves |  |  |
Called up share capital |  | 2 | 2
Retained earnings |  | 134,424 | 83,008
Shareholders' funds |  | 134,426 | 83,010

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 19 November 2025 and signed on its behalf by:

.........................................

Mr K S Kalsi

Director

iTech Diagnostics Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1 | Accounting policies

Statutory information

iTech Diagnostics Limited is a private company, limited by shares, domiciled in England and Wales, company number 11181397. The registered office is at Pegasus House, 463a Glossop Road, Sheffield, S10 2QD.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is recognised on completion of services to customers. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Computer equipment | 20% straight line basis

iTech Diagnostics Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

1 | Accounting policies (continued)

Intangible assets

Development costs are initially recognised as an asset at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Development costs are held in the currency of the entity and revalued to the closing rate at each reporting period date. Development costs are amortised over their useful life.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Development costs | 20% straight line basis

No amortisation has been provided as the asset is still under development.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

iTech Diagnostics Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

3 | Intangible assets

| Development costs £
Cost or valuation
At 1 March 2024 | 67,414
At 28 February 2025 | 67,414
Carrying amount
At 28 February 2025 | 67,414
At 29 February 2024 | 67,414

4 | Tangible assets

| Office equipment £ | Total £
Cost or valuation
At 1 March 2024 | 12,920 | 12,920
Additions | 2,510 | 2,510
At 28 February 2025 | 15,430 | 15,430
Depreciation
At 1 March 2024 | 12,622 | 12,622
Charge for the year | 478 | 478
At 28 February 2025 | 13,100 | 13,100
Carrying amount
At 28 February 2025 | 2,330 | 2,330
At 29 February 2024 | 298 | 298

iTech Diagnostics Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

5 | Debtors

| 2025 £ | 2024 £
Trade debtors | 16,430 | -
Other debtors | 78,560 | 23,558
| 94,990 | 23,558

6 | Creditors

| 2025 £ | 2024 £
Due within one year |  |
Taxation and social security | 28,431 | 6,598
Accruals and deferred income | 1,890 | 1,890
| 30,321 | 8,488

7 | Related party transactions

Summary of transactions with other related parties

At the balance sheet date the directors had an interest free loan with the company. The amount due to the company by the directors was £78,560 (2024: £23,558).