Inspired Testing Limited Filleted accounts for Companies House (small and micro)
Inspired Testing Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
10141744
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Financial Statements |
Year ended 28 February 2021
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
2 |
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Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions
Taxation including deferred tax |
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Net liabilities |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders deficit |
(
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
8 July 2021
, and are signed on behalf of the board by:
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Director |
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Company registration number:
10141744
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Notes to the Financial Statements |
Year ended 28 February 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/- Sable Accounting, 13th Floor, One Croydon, 12-16 Addiscombe Road, Croydon, CR0 0XT.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
Revenue recognition
Income tax
Foreign currencies
Tangible assets
Depreciation
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:
Computer equipment |
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Impairment of fixed assets
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2020:
4
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5.
Tangible assets
Equipment |
Total |
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£ |
£ |
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Cost |
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At 1 March 2020 |
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Additions |
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At 28 February 2021 |
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Depreciation |
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At 1 March 2020 |
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Charge for the year |
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At 28 February 2021 |
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Carrying amount |
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At 28 February 2021 |
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At 29 February 2020 |
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6.
Debtors
2021 |
2020 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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Trade creditors |
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Amounts owed to group undertakings |
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Social security and other taxes |
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Other creditors |
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8.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
2021 |
2020 |
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£ |
£ |
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Included in provisions |
(
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(
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The deferred tax account consists of the tax effect of timing differences in respect of:
2021 |
2020 |
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£ |
£ |
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Unused tax losses |
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(
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9.
Summary audit opinion
As the income statement has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
10.
Related party transactions
The company has taken advantage of the exemption available under FRS 102 paragraph 33.1a whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group Sales to related parties:
2021 | 2020 | ||
£ | £ | ||
Group companies | 1,712 | 220,000 | |
Purchases from related parties:
2021 | 2020 | ||
£ | £ | ||
Group companies | 152,223 | 57,600 | |
Entities controlled by directors | 33,020 | 147,797 | |
Amounts owed by related parties:
2021 | 2020 | ||
£ | £ | ||
Group companies | 175,577 | 21,430 | |
Amounts owed to related parties:
2020 | 2020 | ||
£ | £ | ||
Group companies | – | 2,205 | |
Entities controlled by directors | – | 12,000 | |
11.
Ultimate controlling party
The immediate parent company is Inspired Testing (Pty) Ltd and the ultimate controlling party is Dynamic Technologies Holdings (Pty) Ltd , both companies are incorporated in South Africa.
The largest and smallest group which the company is consolidated into is Dynamic Technologies Holdings (Pty) Ltd.
The business address for both is: 2 Venus Street, Melrose estate, Johannesburg, South Africa