| Intermedia Supplies Limited |
| Notes to the Accounts |
| for the year ended 30 September 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
25% reducing balance basis |
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Motor vehicles |
25% reducing balance basis |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
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2024 |
| Number |
Number |
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Average number of persons employed by the company |
4 |
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4 |
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| 3 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 October 2024 |
5,000 |
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At 30 September 2025 |
5,000 |
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Amortisation |
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At 1 October 2024 |
5,000 |
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At 30 September 2025 |
5,000 |
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Net book value |
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At 30 September 2025 |
- |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
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| 4 |
Tangible fixed assets |
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Plant and machinery etc |
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Motor vehicles |
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Total |
| £ |
£ |
£ |
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Cost |
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At 1 October 2024 |
295,513 |
|
25,865 |
|
321,378 |
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At 30 September 2025 |
295,513 |
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25,865 |
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321,378 |
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Depreciation |
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At 1 October 2024 |
290,589 |
|
539 |
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291,128 |
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Charge for the year |
1,230 |
|
6,332 |
|
7,562 |
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At 30 September 2025 |
291,819 |
|
6,871 |
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298,690 |
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Net book value |
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At 30 September 2025 |
3,694 |
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18,994 |
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22,688 |
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At 30 September 2024 |
4,924 |
|
25,326 |
|
30,250 |
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| 5 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
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Cost |
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At 1 October 2024 |
28,312 |
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At 30 September 2025 |
28,312 |
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| 6 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Trade debtors |
199,172 |
|
176,618 |
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Other debtors |
282,578 |
|
275,808 |
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481,750 |
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452,426 |
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| 7 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Bank loans and overdrafts |
26,111 |
|
27,633 |
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Obligations under finance lease and hire purchase contracts |
5,664 |
|
5,664 |
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Trade creditors |
64,112 |
|
52,950 |
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Taxation and social security costs |
19,725 |
|
9,253 |
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Other creditors |
336,647 |
|
332,221 |
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452,259 |
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427,721 |
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The obligations under hire purchase contracts are secured against the acquired vehicle |
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| 8 |
Creditors: amounts falling due after one year |
2025 |
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2024 |
| £ |
£ |
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Bank loans |
23,320 |
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29,605 |
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Obligations under finance lease and hire purchase contracts |
10,953 |
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16,991 |
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34,273 |
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46,596 |
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The obligations under hire purchase contracts are secured against the acquired vehicle |
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| 9 |
Pension commitments |
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The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £606 (2024 £346). Contributions totalling £218 (2024 £123) were payable to the fund at the balance sheet date and are included in creditors. |
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| 10 |
Guarantees made by the company on behalf of directors |
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Main terms |
At year end |
Maximum |
| liability |
| £ |
£ |
|
P.S.Clarke |
|
Nat West loan |
|
- |
|
27,993 |
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IWOCA loan |
|
7,912 |
|
8,669 |
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New Nat West loan |
|
31,390 |
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36,901 |
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39,302 |
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73,563 |
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| 11 |
Related party transactions |
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At year end the company had inter-company balances with connected companies both in the United Kingdom and overseas. Those comprised an overall debtor balance of £283,268 (2024 £273,808). The company occupies premises owned by Network Telex (Holdings) Limited and was charged £15,000 (2024 £15,000) during the year. Network Telex (Holdings) Limited is owned entirely by the Director, and he considers the rental charge to be an arms-length transaction. |
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| 12 |
Controlling party |
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The company was under the control of P.S. Clarke during the year by virtue of his ownership of 100% of the Ordinary share capital (2024 100%) |
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| 13 |
Other information |
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Intermedia Supplies Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Unit 39 |
|
Axis 31 Woolsbridge Industrial Park |
|
Three Legged Cross |
|
Dorset |
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BH21 6FE |