REGISTERED NUMBER: 10783880 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

INTREPID CONTROL SYSTEMS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D M Robins

C S Hills

SECRETARY:

Ms N A Randall

REGISTERED OFFICE:

Seven Stars House

1 Wheler Road

Coventry

West Midlands

CV3 4LB

REGISTERED NUMBER:

10783880 (England and Wales)

AUDITORS:

HB&O Ltd

Chartered Accountants and Statutory Auditors

Seven Stars House

1 Wheler Road

Coventry

CV3 4LB

FIXED ASSETS

Tangible assets

4

48,987

74,689

CURRENT ASSETS

Stocks

9,888

13,230

Debtors

1,879,562

2,244,891

Cash at bank

117,152

114,389

2,006,602

2,372,510

CREDITORS

Amounts falling due within one year

1,088,826

1,033,282

NET CURRENT ASSETS

917,776

1,339,228

TOTAL ASSETS LESS CURRENT LIABILITIES

966,763

1,413,917

CREDITORS

Amounts falling due after more than one year

-

(16,349

)

PROVISIONS FOR LIABILITIES

6

(7,249

)

(13,355

)

NET ASSETS

959,514

1,384,213

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

959,513

1,384,212

959,514

1,384,213

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 August 2026 and were signed on its behalf by:

C S Hills - Director

1.	STATUTORY INFORMATION

Intrepid Control Systems Limited is a private company, limited by shares , registered in England and Wales. 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period.

Related party exemption

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of the goods.

Turnover relating to sales of services provided in the normal course of business is recognised when the services are provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant & machinery

-

25% on cost

Fixtures & fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

Financial instruments

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.

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 income statement.

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.

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.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2025

320,104

Additions

9,287

Disposals

(19,799

)

At 31 December 2025

309,592

DEPRECIATION

At 1 January 2025

245,415

Charge for year

34,989

Eliminated on disposal

(19,799

)

At 31 December 2025

260,605

NET BOOK VALUE

At 31 December 2025

48,987

At 31 December 2024

74,689

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2025

and 31 December 2025

37,526

DEPRECIATION

At 1 January 2025

16,418

Charge for year

9,381

At 31 December 2025

25,799

NET BOOK VALUE

At 31 December 2025

11,727

At 31 December 2024

21,108

5.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

16,349

7,385

Between one and five years

-

16,349

16,349

23,734

Non-cancellable

operating leases

2025

2024

£

£

Within one year

109,799

174,467

Between one and five years

19,629

92,738

129,428

267,205

6.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

7,249

13,355

Deferred

tax

£

Balance at 1 January 2025

13,355

Credit to Income Statement during year

(6,106

)

Balance at 31 December 2025

7,249

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gregg Olner MPhil BA (Hons) FCA (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

8.	PENSION COMMITMENTS

The company operates a defined pension contribution scheme in respect of certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £61,009 (2024 - £53,687).

9.	ULTIMATE CONTROLLING PARTY

10.	CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.