Company No:
Contents
Note | 2021 | 2020 | ||
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Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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301,693 | 76,481 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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128,427 | 185,456 | |||
Creditors | ||||
Amounts falling due within one year | 6 | (
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Net current (liabilities)/assets | (13,349) | 54,552 | ||
Total assets less current liabilities | 288,344 | 131,033 | ||
Creditors | ||||
Amounts falling due after more than one year | 7 | (
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Provisions for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Intergage Group Limited (Formerly Intergage Ltd) (registered number:
Paul Simon Tansey
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.
Intergage Group Limited (Formerly Intergage Ltd) (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 55 Cobham Road, Ferndown Industrial Estate, Wimborne, BH21 7RB, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.
The functional currency of Intergage Group Limited (Formerly Intergage Ltd) is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Computer Equipment - 3 years straight line
Fixtures + Fittings - 25% reducing balance
Office Equipment - 33% reducing balance
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 June 2020 |
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At 31 May 2021 |
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Accumulated amortisation | |||
At 01 June 2020 |
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Charge for the financial year |
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At 31 May 2021 |
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Net book value | |||
At 31 May 2021 |
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At 31 May 2020 |
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Investment property | Fixtures and fittings | Office equipment | Computer equipment | Total | |||||
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Cost | |||||||||
At 01 June 2020 |
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Additions |
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Disposals |
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At 31 May 2021 |
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Accumulated depreciation | |||||||||
At 01 June 2020 |
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Charge for the financial year |
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Disposals |
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At 31 May 2021 |
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Net book value | |||||||||
At 31 May 2021 |
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At 31 May 2020 |
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2021 | 2020 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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Corporation tax |
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Other debtors |
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2021 | 2020 | ||
£ | £ | ||
Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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Corporation tax |
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Other taxation and social security |
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2021 | 2020 | ||
£ | £ | ||
Bank loans |
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