Company Registration No. 10508200 (England and Wales)
Increasingly Technologies Limited
Unaudited accounts
for the year ended 31 December 2020
Increasingly Technologies Limited
Unaudited accounts
Contents
Increasingly Technologies Limited
Company Information
for the year ended 31 December 2020
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 2020
Tangible assets
7,343
3,558
Cash at bank and in hand
815,738
393,143
Creditors: amounts falling due within one year
(278,473)
(71,977)
Net current assets
1,038,617
533,715
Net assets
1,045,960
537,273
Called up share capital
13
13
Share premium
405,577
405,577
Profit and loss account
640,370
131,683
Shareholders' funds
1,045,960
537,273
For the year ending 31 December 2020 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 30 September 2021 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 2020
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 2020
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2020
125
4,245
4,370
Additions
1,691
4,594
6,285
At 31 December 2020
1,816
8,839
10,655
At 1 January 2020
40
772
812
Charge for the year
306
2,194
2,500
At 31 December 2020
346
2,966
3,312
At 31 December 2020
1,470
5,873
7,343
At 31 December 2019
85
3,473
3,558
5
Debtors: amounts falling due within one year
2020
2019
Trade debtors
434,918
156,683
Accrued income and prepayments
32,316
46,942
Other debtors
34,118
8,924
6
Creditors: amounts falling due within one year
2020
2019
Trade creditors
63,085
13,313
Taxes and social security
15,020
51,528
Loans from directors
-
6,349
7
Average number of employees
During the year the average number of employees was 5 (2019: 3).