IBTEC Ltd - Accounts to registrar (filleted) - small 18.2
IBTEC Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 July 2021 |
| for |
| IBTEC Ltd |
| IBTEC Ltd (Registered number: 08624294) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2021 |
| Page |
| Company Information | 1 |
| Chartered Certified Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 |
| IBTEC Ltd |
| Company Information |
| for the Year Ended 31 July 2021 |
| Director: |
| Registered office: |
| Registered number: |
| Accountants: |
| The Stables |
| Broseley Hall |
| Church Street |
| Broseley |
| Shropshire |
| TF12 5DG |
| Chartered Certified Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| IBTEC Ltd |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IBTEC Ltd for the year ended 31 July 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the director of IBTEC Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of IBTEC Ltd and state those matters that we have agreed to state to the director of IBTEC Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
| It is your duty to ensure that IBTEC Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of IBTEC Ltd. You consider that IBTEC Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of IBTEC Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| The Stables |
| Broseley Hall |
| Church Street |
| Broseley |
| Shropshire |
| TF12 5DG |
| IBTEC Ltd (Registered number: 08624294) |
| Balance Sheet |
| 31 July 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| Capital and reserves |
| Called up share capital | 8 |
| Retained earnings | 9 |
| Shareholders' funds |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| IBTEC Ltd (Registered number: 08624294) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2021 |
| 1. | STATUTORY INFORMATION |
| IBTEC Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| IBTEC Ltd (Registered number: 08624294) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2021 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Patents and |
| licences |
| £ |
| Cost |
| At 1 August 2020 |
| and 31 July 2021 |
| Net book value |
| At 31 July 2021 |
| At 31 July 2020 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 August 2020 |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 July 2021 |
| Depreciation |
| At 1 August 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 July 2021 |
| Net book value |
| At 31 July 2021 |
| At 31 July 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Directors' current accounts | 22,505 | 35,193 |
| VAT |
| IBTEC Ltd (Registered number: 08624294) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Corporation tax |
| Social security and other taxes | ( |
) |
| Accruals and deferred income |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 August 2020 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 July 2021 |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 July 2021 and 31 July 2020: |
| 2021 | 2020 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |