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Unaudited Financial Statements for the Year Ended 31 October 2021 |
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IDENTYSOL LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 October 2021 |
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for |
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IDENTYSOL LIMITED |
IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Contents of the Financial Statements |
for the year ended 31 October 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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IDENTYSOL LIMITED |
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Company Information |
for the year ended 31 October 2021 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Balance Sheet |
31 October 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Balance Sheet - continued |
31 October 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Notes to the Financial Statements |
for the year ended 31 October 2021 |
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1. | STATUTORY INFORMATION |
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Identysol Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the fair value of consideration receivable net of VAT and trade discounts. Revenue from the sale of computer and IT services is recognised at the point of sale. |
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Intangible assets |
Amortisation is provided at the following annual rates in order to write of each asset over its estimated useful life. |
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Patents and licences - 10% on cost |
Development costs - 10% on cost |
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Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Plant and machinery - 25% reducing balance |
Computer equipment - 33% straight line |
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Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Impairment |
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Notes to the Financial Statements - continued |
for the year ended 31 October 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Going concern |
The director has agreed to support the company as necessary in the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Patents |
and | Development |
licences | costs | Totals |
£ | £ | £ |
COST |
At 1 November 2020 |
and 31 October 2021 |
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AMORTISATION |
At 1 November 2020 |
and 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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At 31 October 2020 |
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5. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 November 2020 |
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Disposals | ( |
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At 31 October 2021 |
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DEPRECIATION |
At 1 November 2020 |
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Eliminated on disposal | ( |
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At 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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At 31 October 2020 |
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IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Notes to the Financial Statements - continued |
for the year ended 31 October 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Other creditors |
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8. | SECURED DEBTS |
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On 20 July 2017 a debenture charge was registered at Companies House whereby a fixed and floating charge is held over the company's assets. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 12,160 | 12,160 |