REGISTERED NUMBER: 05412348 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Intelect Mechanical Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J S Gent

K Thomas

F P Cormican

A G Shaw

REGISTERED OFFICE:

Stephenson House

Intelect Court

Riverside Park

Middlesbrough

TS2 1QT

REGISTERED NUMBER:

05412348 (England and Wales)

ACCOUNTANTS:

Anderson Barrowcliff Limited

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

FIXED ASSETS

Tangible assets

3

1,111,762

1,473,535

CURRENT ASSETS

Debtors

4

1,058,502

1,867,688

Cash at bank and in hand

1,144,946

323,382

2,203,448

2,191,070

CREDITORS

Amounts falling due within one year

5

1,425,776

1,842,253

NET CURRENT ASSETS

777,672

348,817

TOTAL ASSETS LESS CURRENT LIABILITIES

1,889,434

1,822,352

CREDITORS

Amounts falling due after more than one year

6

(175,133

)

(231,933

)

PROVISIONS FOR LIABILITIES

(152,000

)

(120,000

)

NET ASSETS

1,562,301

1,470,419

CAPITAL AND RESERVES

Called up share capital

8

1,010

1,010

Revaluation reserve

9

25,841

25,841

Capital redemption reserve

9

190

190

Retained earnings

9

1,535,260

1,443,378

SHAREHOLDERS' FUNDS

1,562,301

1,470,419

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

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

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 6 October 2026 and were signed on its behalf by:

A G Shaw - Director

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

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.

Freehold property

-

2% on cost and not provided

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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 22 (2025 - 21 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 April 2025

1,117,914

641,107

32,950

161,528

1,953,499

Additions

-

91,768

5,078

32,946

129,792

Disposals

-

(30,358

)

-

(16,500

)

(46,858

)

At 31 March 2026

1,117,914

702,517

38,028

177,974

2,036,433

DEPRECIATION

At 1 April 2025

62,361

268,829

30,677

118,097

479,964

Charge for year

20,787

110,178

1,851

14,226

147,042

Eliminated on disposal

-

(23,389

)

-

(16,227

)

(39,616

)

Impairments

337,281

-

-

-

337,281

At 31 March 2026

420,429

355,618

32,528

116,096

924,671

NET BOOK VALUE

At 31 March 2026

697,485

346,899

5,500

61,878

1,111,762

At 31 March 2025

1,055,553

372,278

2,273

43,431

1,473,535

Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2025 - £ 100,000 ) which is not depreciated.

During the year an impairment charge of £337,281 was recognised in respect of the company's freehold property relating to Armstrong House. The impairment arose following a review of the property's recoverable amount based on an independant valuation carried out in 2026. The charge has been included within administrative expenses.

Cost or valuation at 31 March 2026 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

702,517

38,028

177,974

2,010,592

1,117,914

702,517

38,028

177,974

2,036,433

If the Freehold property had not been revalued they would have been included at the following historical cost:

2026

2025

£

£

Cost

1,092,073

1,092,073

Aggregate depreciation

187,840

187,840

Value of land in freehold land and buildings

100,000

100,000

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.

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

Plant and

machinery

£

COST OR VALUATION

At 1 April 2025

and 31 March 2026

355,000

DEPRECIATION

At 1 April 2025

7,396

Charge for year

86,901

At 31 March 2026

94,297

NET BOOK VALUE

At 31 March 2026

260,703

At 31 March 2025

347,604

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

744,282

1,727,378

Amounts recoverable on contract

310,725

74,559

Other debtors

3,495

9,138

Directors' current accounts

-

152

Taxation

-

56,461

1,058,502

1,867,688

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts

56,800

52,067

Trade creditors

145,174

143,436

Taxation

218,200

-

Social security and other taxes

114,509

232,433

Directors' current accounts

1,489

-

Accruals and deferred income

889,604

1,414,317

1,425,776

1,842,253

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Hire purchase contracts

175,133

231,933

7.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Hire purchase contracts

231,933

284,000

The hire purchase is secured over the asset which it relates to.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

810

Ordinary

£1

810

810

200

Ordinary B

£1

200

200

1,010

1,010

9.

RESERVES

Capital

Retained

Revaluation

redemption

earnings

reserve

reserve

Totals

£

£

£

£

At 1 April 2025

1,443,378

25,841

190

1,469,409

Profit for the year

234,282

234,282

Dividends

(142,400

)

(142,400

)

At 31 March 2026

1,535,260

25,841

190

1,561,291

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 were the following loans to directors:

At 1 April 2025

Amount advanced

Amount repaid

At 31 March 2026

£

£

£

£

Director 1

77

3,365

(3,442

)

-

Director 2

75

2,787

(2,862

)

-

Total

152

6,152

(6,304

)

-

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 2026:

£

Trade debtors outstanding as at 31 March 2026

71,161

Trade creditors outstanding as at 31 March 2026

(48,518

)

Sales in the year to 31 March 2026

580,684

Purchases in the year to 31 March 2026

(485,743

)