Company Registration No. 10508200 (England and Wales)
Increasingly Technologies Limited
Unaudited accounts
for the year ended 31 December 2021
Increasingly Technologies Limited
Unaudited accounts
Contents
Increasingly Technologies Limited
Company Information
for the year ended 31 December 2021
Directors
Satish Jayakumar
Sridhar Missula Sharma
Company Number
10508200 (England and Wales)
Registered Office
7 PEACOCK PLACE
LONDON
N1 1YG
UNITED KINGDOM
Accountants
Thriveworks Ltd
Albert House
256-260 Old Street
London
EC1V 9DD
Increasingly Technologies Limited
Statement of financial position
as at
31 December 2021
Tangible assets
10,290
7,343
Cash at bank and in hand
533,146
815,738
Creditors: amounts falling due within one year
(170,037)
(278,473)
Net current assets
926,864
1,038,617
Net assets
937,154
1,045,960
Called up share capital
13
13
Share premium
405,577
405,577
Profit and loss account
531,564
640,370
Shareholders' funds
937,154
1,045,960
For the year ending 31 December 2021 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.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2022 and were signed on its behalf by
Satish Jayakumar
Director
Company Registration No. 10508200
Increasingly Technologies Limited
Notes to the Accounts
for the year ended 31 December 2021
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 remained unchanged from the previous year, and also 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:
Fixtures & fittings
5 years
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.
Increasingly Technologies Limited
Notes to the Accounts
for the year ended 31 December 2021
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2021
1,816
8,839
10,655
Additions
1,082
5,468
6,550
At 31 December 2021
2,898
14,307
17,205
At 1 January 2021
346
2,966
3,312
Charge for the year
440
3,163
3,603
At 31 December 2021
786
6,129
6,915
At 31 December 2021
2,112
8,178
10,290
At 31 December 2020
1,470
5,873
7,343
Amounts falling due within one year
Trade debtors
507,733
434,918
Accrued income and prepayments
37,616
32,316
Other debtors
18,406
34,118
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
145,659
63,085
Taxes and social security
11,312
15,020
Other creditors
2,330
987
Loans from directors
(18,925)
-
7
Average number of employees
During the year the average number of employees was 6 (2020: 5).