Company Registration No. 10508200 (England and Wales)
Increasingly Technologies Limited
Unaudited accounts
for the year ended 31 December 2022
Increasingly Technologies Limited
Unaudited accounts
Contents
Increasingly Technologies Limited
Company Information
for the year ended 31 December 2022
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
4a The Barns, Bulrushes Farm
Coombe Hill Road
East Grinstead
West Sussex
RH19 4LZ
Increasingly Technologies Limited
Statement of financial position
as at 31 December 2022
Tangible assets
6,253
10,290
Cash at bank and in hand
263,770
533,146
Creditors: amounts falling due within one year
(393,163)
(170,037)
Net current assets
399,473
926,864
Total assets less current liabilities
405,726
937,154
Provisions for liabilities
Net assets
404,166
937,154
Called up share capital
13
13
Share premium
405,577
405,577
Profit and loss account
(1,424)
531,564
Shareholders' funds
404,166
937,154
For the year ending 31 December 2022 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 4 July 2023 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 2022
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 2022
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2022
2,898
14,307
17,205
At 31 December 2022
2,898
15,078
17,976
At 1 January 2022
786
6,129
6,915
Charge for the year
688
4,120
4,808
At 31 December 2022
1,474
10,249
11,723
At 31 December 2022
1,424
4,829
6,253
At 31 December 2021
2,112
8,178
10,290
Amounts falling due within one year
Trade debtors
443,448
507,733
Accrued income and prepayments
17,953
37,616
Other debtors
67,465
18,406
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
201,207
145,659
Taxes and social security
36,316
11,312
Loans from directors
-
(18,925)
7
Average number of employees
During the year the average number of employees was 7 (2021: 6).