Internet Tickets Limited 31/10/2022 iXBRL
Internet Tickets Limited 31/10/2022 iXBRL
Filleted accounts
Company registration number:
04442713
Directors and other information
Directors |
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Registered office |
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Accountants |
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Accountants and Taxation Advisors | ||
The Old Dairy | ||
12 Stephen Road | ||
Headington | ||
Oxford | ||
OX3 9AY | ||
Balance sheet
31st October 2022
2022 | 2021 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 |
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Tangible assets | 6 |
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Investments | 7 |
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Current assets | |||||||||
Debtors | 8 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 9 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 10 |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital | 12 |
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Profit and loss account |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
03 March 2023
, and are signed on behalf of the board by:
Director
Company registration number:
04442713
Notes to the financial statements
Year ended 31st October 2022
1.
General information
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Consolidation
Turnover
Taxation
Intangible assets
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Trademarks | - |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment | - |
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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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2021:
11
).
5.
Intangible assets
Trademarks | Total | ||
£ | £ | ||
Cost | |||
At 1st November 2021 and 31st October 2022 |
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Amortisation | |||
At 1st November 2021 |
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Charge for the year |
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At 31st October 2022 |
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Carrying amount | |||
At 31st October 2022 |
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At 31st October 2021 |
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6.
Tangible assets
Equipment | Total | ||
£ | £ | ||
Cost | |||
At 1st November 2021 |
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Additions |
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At 31st October 2022 |
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Depreciation | |||
At 1st November 2021 |
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Charge for the year |
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At 31st October 2022 |
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Carrying amount | |||
At 31st October 2022 |
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At 31st October 2021 |
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7.
Investments
Shares in group undertakings and participating interests | Total | ||
£ | £ | ||
Cost | |||
At 1st November 2021 |
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Disposals |
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At 31st October 2022 |
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Impairment | |||
At 1st November 2021 and 31st October 2022 | - | - | |
_______ | _______ | ||
Carrying amount | |||
At 31st October 2022 |
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_______ | _______ | ||
At 31st October 2021 |
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Investments in group undertakings | |||||
Registered office | Class of share | Percentage of shares held | |||
Subsidiary undertakings | |||||
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England and Wales | Ordinary | 100 | ||
8.
Debtors
2022 | 2021 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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_______ | _______ | |||
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9.
Creditors: amounts falling due within one year
2022 | 2021 | |||
£ | £ | |||
Bank loan |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Social security and other taxes |
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Other creditors |
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_______ | _______ | |||
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10.
Creditors: amounts falling due after more than one year
2022 | 2021 | |||
£ | £ | |||
Bank loan |
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_______ | _______ | |||
11.
Deferred tax
The deferred tax included in the Balance sheet is as follows:
2022 | 2021 | |||
£ | £ | |||
Included in debtors (note 8) |
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_______ | _______ | |||
The deferred tax account consists of the tax effect of timing differences in respect of:
2022 | 2021 | |||
£ | £ | |||
Accelerated capital allowances |
(
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Unused tax losses |
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_______ | _______ | |||
27,113 | 48,721 | |||
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12.
Called up share capital
Issued, called up and fully paid
2022 | 2021 | ||||||||
No | £ | No | £ | ||||||
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25 | 25 | 25 | 25 | |||||
_______ | _______ | _______ | _______ | ||||||
13.
Controlling party