Intu Tech (North East) Limited
Intu Tech (North East) Limited
Registered number: 7997155
Unaudited Financial Statements
For The Year Ended 31 March 2017
C W Dix Limited
Accountants & Business Advisors
4 Silkwood Court
Wakefield
West Yorkshire
WF5 9TP
Intu Tech (North East) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Statement of Changes in Equity | 3 |
| Notes to the Financial Statements | 4—6 |
Intu Tech (North East) Limited
Balance Sheet
As at
31 March 2017
Balance Sheet
Registered number:
7997155
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 6 |
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| CURRENT ASSETS | |||||
| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 9 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 10 |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | 114,493 | 22,831 | |||
Page 1
Intu Tech (North East) Limited
Balance Sheet (continued)
As at
31 March 2017
Director's responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account
On behalf of the board
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The notes on pages 4 to 6 form part of these financial statements.
Page 2
Intu Tech (North East) Limited
Statement of Changes in Equity
For The Year Ended 31 March 2017
Statement of Changes in Equity
| Share Capital | Profit & Loss Account | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 April 2015 |
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32,024 |
| Profit for the year and total comprehensive income | - |
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10,807 |
| Dividends paid | - | (20,000) | (20,000) |
| As at 31 March 2016 and 1 April 2016 |
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22,831 |
| Profit for the year and total comprehensive income | - |
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113,662 |
| Dividends paid | - | (22,000) | (22,000) |
| As at |
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114,493 |
Page 3
Intu Tech (North East) Limited
Notes to the Unaudited Accounts
For The Year Ended 31 March 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Statement of Compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015.
Details of how FRS 102 has affected the reported financial position and financial performance is given in note 17.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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| Fixtures & Fittings |
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1.4.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.5.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
4.
Average number of employees
Average number of employees, including directors, during the year was as follows:
| 2017 | 2016 | ||
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| Office and administration |
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| Sales, marketing and distribution |
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| Manufacturing |
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Page 4
Intu Tech (North East) Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
6.
Tangible Assets
| Motor Vehicles | Fixtures & Fittings | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at |
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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7.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| VAT | - |
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| Other taxes and social security |
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8.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other taxes and social security | - |
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| VAT |
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| Accruals and deferred income |
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| Director's loan account |
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Page 5
Intu Tech (North East) Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
9.
Deferred Taxation
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| As at |
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| Deferred taxation |
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| Deferred tax |
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The provision for deferred taxation is made up of accelerated capital allowances
11.
Transactions With and Loans to Directors
Dividends paid to directors
| 2017 | 2016 | |
|---|---|---|
| £ | £ | |
| Mr Lee Southon | 22,000 | 20,000 |
12.
Dividends
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
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| 22,000 | 20,000 | ||
13.
Ultimate Controlling Party
The company's ultimate controlling party is L Southon by virtue of his ownership of 100% of the issued share capital in the company.
14.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.
15.
General Information
Intu Tech (North East) Limited Registered number 7997155 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 4, Silkwood Court, Wakefield, West Yorkshire, WF5 9TP.
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