Registration number:
Intercept Services Limited
for the Year Ended 30 June 2019
Intercept Services Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Intercept Services Limited
(Registration number: 07284437)
Balance Sheet as at 30 June 2019
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2019 |
2018 |
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Fixed assets |
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Intangible assets not including goodwill |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
( |
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Total equity |
( |
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For the financial year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Mr Carl Frank Howarth
Director
Page 1 |
Intercept Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2019
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The director has considered the position of the company and based on projections prepared, he is confident that the company will become profitable in the foreseeable future. The director is therefore satisfied that the accounts are prepared on a going concern basis.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 2 |
Intercept Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2019
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leashold land and buildings |
18% straight line |
Plant and machinery |
15% reducing balance |
Motor vehicles |
25% straight line |
Furniture, fittings and equipment |
15% reducing balance |
Intangible assets
Intangible assets relates wholly to development costs in relation to a portfolio of products. As stated below, intangible assets are being amortised at 25% straight line but only where development costs have been completed. For products in the course of development, amortisation will commence upon the completion of the project.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Development costs |
25% straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Staff numbers |
The average number of persons employed by the company (including the director) during the year was
Page 3 |
Intercept Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2019
Intangible assets |
Other intangible assets |
Total |
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Cost or valuation |
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At 1 July 2018 |
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Additions acquired separately |
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At 30 June 2019 |
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Amortisation |
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At 1 July 2018 |
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Amortisation charge |
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At 30 June 2019 |
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Carrying amount |
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At 30 June 2019 |
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At 30 June 2018 |
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Tangible assets |
Land and buildings |
Fixtures and fittings |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 July 2018 |
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Additions |
- |
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- |
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Disposals |
- |
- |
- |
( |
( |
At 30 June 2019 |
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Depreciation |
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At 1 July 2018 |
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Charge for the period |
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At 30 June 2019 |
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Carrying amount |
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At 30 June 2019 |
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At 30 June 2018 |
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Stocks |
2019 |
2018 |
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Stock |
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Page 4 |
Intercept Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2019
Debtors |
2019 |
2018 |
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Trade debtors |
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Other debtors |
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Creditors |
2019 |
2018 |
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Due within one year |
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Bank loans and overdrafts |
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HP and finance lease liabilities |
4,760 |
3,219 |
Trade creditors |
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Taxation and social security |
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Other creditors |
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Due after more than one year |
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Bank loans and overdrafts |
- |
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HP and finance lease liabilities |
11,240 |
16,000 |
Other non-current financial liabilities |
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- |
3,408,510 |
18,974 |
Bank borrowings
The bank loans are secured against the assets of the company. |
Other borrowings
Hire Purchase have a carrying amount at the year end of £16,000 (2018 - £19,219).
The liabilies are secured against the assets to which the agreement relates.
Related party transactions |
Summary of transactions with other related parties
All trade from Intercept IP Ltd has been transferred to Intercept Services Limited through the inter-company loan accounts. There is no interest charged on the loan and no fixed repayment terms.
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