| INTELLISPHERE LIMITED |
| Registered number: |
07215890 |
| Balance Sheet |
| as at 31 March 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
2,752 |
|
|
2 |
| Tangible assets |
4 |
|
|
9,776 |
|
|
13,048 |
|
|
|
|
12,528 |
|
|
13,050 |
|
| Current assets |
| Stocks |
|
|
9,567 |
|
|
21,381 |
| Debtors |
5 |
|
12,897 |
|
|
4,069 |
| Cash at bank and in hand |
|
|
7,559 |
|
|
18,066 |
|
|
|
30,023 |
|
|
43,516 |
|
| Creditors: amounts falling due within one year |
6 |
|
(83,433) |
|
|
(76,223) |
|
| Net current liabilities |
|
|
|
(53,410) |
|
|
(32,707) |
|
| Total assets less current liabilities |
|
|
|
(40,882) |
|
|
(19,657) |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(35,000) |
|
|
(42,500) |
|
|
|
| Net liabilities |
|
|
|
(75,882) |
|
|
(62,157) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
(75,884) |
|
|
(62,159) |
|
| Shareholders' funds |
|
|
|
(75,882) |
|
|
(62,157) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The directors report and profit and loss account have not been delivered to the Registrar of Companies. |
|
|
|
| A.Mudd |
| Director |
| Approved by the board on 24 November 2022 |
|
| INTELLISPHERE LIMITED |
| Notes to the Accounts |
| for the year ended 31 March 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102- Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
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 is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
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: |
|
|
Office Equipment |
25% on reducing balance |
|
Computer Equipment |
over 3 years |
|
|
Stocks |
|
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. |
|
|
Taxation |
|
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. |
|
|
Foreign currency translation |
|
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. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
3 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Website |
|
|
Cost |
|
At 1 April 2021 |
40,171 |
|
Additions |
4,127 |
|
At 31 March 2022 |
44,298 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2021 |
40,169 |
|
Provided during the year |
1,377 |
|
At 31 March 2022 |
41,546 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2022 |
2,752 |
|
At 31 March 2021 |
2 |
|
|
|
|
|
|
|
|
|
|
Intangibles are being written off in equal annual instalments over their estimated economic life of 3 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and Equipment |
| £ |
|
Cost |
|
At 1 April 2021 |
44,257 |
|
At 31 March 2022 |
44,257 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2021 |
31,209 |
|
Charge for the year |
3,272 |
|
At 31 March 2022 |
34,481 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2022 |
9,776 |
|
At 31 March 2021 |
13,048 |
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Trade debtors |
8,869 |
|
835 |
|
Other debtors |
4,028 |
|
3,234 |
|
|
|
|
|
|
12,897 |
|
4,069 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans and overdrafts |
7,541 |
|
7,500 |
|
Trade creditors |
12,487 |
|
9,233 |
|
Corporation tax |
13,919 |
|
5,767 |
|
Other taxes and social security costs |
34,806 |
|
40,308 |
|
Other creditors |
14,680 |
|
13,415 |
|
|
|
|
|
|
83,433 |
|
76,223 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans |
35,000 |
|
42,500 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Controlling party |
|
|
The company is not under the control of any one individual. |
|
|
| 9 |
Other information |
|
|
INTELLISPHERE LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
The Technocentre |
|
Puma Way |
|
Coventry |
|
CV1 2TT |
