Company Registration No. 10508200 (England and Wales)
Increasingly Technologies Limited
Unaudited accounts
for the period from 2 December 2016 to 31 December 2017
Increasingly Technologies Limited
Unaudited accounts
Contents
Increasingly Technologies Limited
Company Information
for the period from 2 December 2016 to 31 December 2017
Directors
Satish Jayakumar
Sridhar Missula Sharma
Company Number
10508200 (England and Wales)
Registered Office
7 PEACOCK PLACE
LONDON
N1 1YG
UNITED KINGDOM
Accountants
Thrive Accountants LLP
The City Arc
89 Worship Street
London
EC2A 2BF
Increasingly Technologies Limited
Statement of financial position
as at
31 December 2017
Cash at bank and in hand
258,612
Creditors: amounts falling due within one year
(76,167)
Net current assets
244,495
Called up share capital
13
Profit and loss account
(160,685)
Shareholders' funds
244,905
For the period ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 8 March 2018.
Satish Jayakumar
Director
Company Registration No. 10508200
Increasingly Technologies Limited
Notes to the Accounts
for the period from 2 December 2016 to 31 December 2017
Increasingly Technologies Limited is a private company, limited by shares, registered in England and Wales, registration number 10508200. The registered office is 7 PEACOCK PLACE, LONDON, N1 1YG, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 years
The accounts are presented in £ sterling.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Computer equipment
Cost or valuation
At cost
Increasingly Technologies Limited
Notes to the Accounts
for the period from 2 December 2016 to 31 December 2017
6
Creditors: amounts falling due within one year
2017
Taxes and social security
9,769
Loans from directors
41,564
7
Average number of employees
During the period the average number of employees was 2.