ITEBA SP LIMITED


ITEBA SP LIMITED

Company Registration Number:
02709209 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2021

Period of accounts

Start date: 01 January 2021

End date: 31 December 2021

ITEBA SP LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2021

Balance sheet
Notes

ITEBA SP LIMITED

Balance sheet

As at 31 December 2021


Notes

2021

2020


£

£
Fixed assets
Intangible assets: 3 148,381 149,531
Tangible assets: 4 131,462 134,993
Total fixed assets: 279,843 284,524
Current assets
Debtors:   488,422 444,399
Cash at bank and in hand: 35,645 110,463
Total current assets: 524,067 554,862
Creditors: amounts falling due within one year:   (152,253) (178,126)
Net current assets (liabilities): 371,814 376,736
Total assets less current liabilities: 651,657 661,260
Creditors: amounts falling due after more than one year:   (39,657) (58,218)
Total net assets (liabilities): 612,000 603,042
Capital and reserves
Called up share capital: 500,000 500,000
Share premium account: 491,500 491,500
Profit and loss account: (379,500) (388,458)
Shareholders funds: 612,000 603,042

The notes form part of these financial statements

ITEBA SP LIMITED

Balance sheet statements

For the year ending 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 20 February 2022
and signed on behalf of the board by:

Name: PA Griffin
Status: Director

The notes form part of these financial statements

ITEBA SP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Intangible fixed assets and amortisation policy

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

ITEBA SP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

2. Employees

2021 2020
Average number of employees during the period 12 12

ITEBA SP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

3. Intangible Assets

Total
Cost £
At 01 January 2021 266,456
At 31 December 2021 266,456
Amortisation
At 01 January 2021 116,925
Charge for year 1,150
At 31 December 2021 118,075
Net book value
At 31 December 2021 148,381
At 31 December 2020 149,531

ITEBA SP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

4. Tangible Assets

Total
Cost £
At 01 January 2021 188,764
At 31 December 2021 188,764
Depreciation
At 01 January 2021 53,771
Charge for year 3,531
At 31 December 2021 57,302
Net book value
At 31 December 2021 131,462
At 31 December 2020 134,993