Registration number:
IGAS Technology Solutions Limited
for the Year Ended 31 October 2025
IGAS Technology Solutions Limited
Contents
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Company Information |
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Accountants' Report |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
IGAS Technology Solutions Limited
Company Information
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Directors |
R M Lee M A Kinnear S Dey L Spraggon L Greenman D Marshall |
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Registered office |
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Accountants |
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Independent Chartered Certified Accountants' Review Report to the Board of Directors of IGAS Technology Solutions Limited
for the Year Ended 31 October 2025
We have reviewed the financial statements of IGAS Technology Solutions Limited for the year ended 31 October 2025, which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes 1 to 13. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed.
Directors' responsibility for the financial statements
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.
Accountants' responsibility
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to Review Historical Financial Statements'. ISRE 2400 (Revised) requires us to comply with the ACCA Code of Ethics and Conduct.
Scope of the assurance review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:
- so as to give a true and fair view of the state of the company's affairs as at 31 October 2025 and of its profit for the year then ended;
- in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
- in accordance with the requirements of the Companies Act 2006.
Independent Chartered Certified Accountants' Review Report to the Board of Directors of IGAS Technology Solutions Limited
for the Year Ended 31 October 2025 (continued)
......................................
Chartered Certified Accountants
London
SE24 9LR
IGAS Technology Solutions Limited
(Registration number: 04299660)
Statement of Financial Position as at 31 October 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
200 |
200 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
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Share premium reserve |
7,000 |
7,000 |
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Retained earnings |
743,640 |
828,191 |
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Shareholders' funds |
751,640 |
836,191 |
IGAS Technology Solutions Limited
(Registration number: 04299660)
Statement of Financial Position as at 31 October 2025 (continued)
For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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IGAS Technology Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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 of the financial statements is Pound Sterling (£) rounded to the nearest Pound.
Going concern
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 shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
IGAS Technology Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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2 |
Accounting policies (continued) |
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position 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:
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Asset class |
Depreciation method and rate |
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Office equipment |
20% on Reducing balance |
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Computer equipment |
33.33% on Reducing balance |
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Leasehold improvements |
Over 2.5 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
IGAS Technology Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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2 |
Accounting policies (continued) |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
IGAS Technology Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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2 |
Accounting policies (continued) |
Leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account on a straight line basis so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight-line basis.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. The costs of the scheme are charged to the profit and loss account as incurred.
Financial instruments
Classification
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
IGAS Technology Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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Tangible assets |
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Leasehold Improvements |
Fixtures and fittings |
Plant and machinery |
Office equipment |
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Cost or valuation |
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At 1 November 2024 |
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Additions |
- |
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- |
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Disposals |
- |
- |
- |
( |
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Transfers |
- |
- |
( |
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At 31 October 2025 |
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- |
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Depreciation |
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At 1 November 2024 |
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- |
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Charge for the year |
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- |
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At 31 October 2025 |
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- |
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Carrying amount |
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At 31 October 2025 |
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- |
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At 31 October 2024 |
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Total |
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Cost or valuation |
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At 1 November 2024 |
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Additions |
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Disposals |
( |
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Transfers |
- |
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At 31 October 2025 |
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Depreciation |
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At 1 November 2024 |
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Charge for the year |
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At 31 October 2025 |
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Carrying amount |
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At 31 October 2025 |
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At 31 October 2024 |
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IGAS Technology Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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Fixed asset investments |
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Unlisted |
Total |
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Cost or valuation |
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At 1 November 2024 |
200 |
200 |
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At 31 October 2025 |
200 |
200 |
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Carrying amount |
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At 31 October 2025 |
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200 |
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At 31 October 2024 |
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200 |
IGAS Technology Solutions Limited owns £100 of share capital in IGPH Limited. This £100 represents 17% of the total share capital (£600).
IGAS Technology Solutions Limited owns £100 of share capital in Industrial Gas Projects House Limited. This £100 represents 17% of the total share capital (£600).
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Stocks |
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2025 |
2024 |
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Work in progress |
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Other inventories |
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
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IGAS Technology Solutions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Leasing Agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows:
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2025 |
2024 |
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£ |
£ |
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Within one year |
100,000 |
100,000 |
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Between one and five years |
120,833 |
220,833 |
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220,833 |
320,833 |
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Pensions |
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge amounted to £111,741 (2024: £118,055). Of this balance £12,736 is yet to be paid at the year end date.