Caseware UK (AP4) 2021.0.152 2021.0.152 2022-05-312022-05-312021-06-01falseNo description of principal activitytrue11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06245933 2021-06-01 2022-05-31 06245933 2020-06-01 2021-05-31 06245933 2022-05-31 06245933 2021-05-31 06245933 2020-06-01 06245933 c:Director1 2021-06-01 2022-05-31 06245933 d:PlantMachinery 2021-06-01 2022-05-31 06245933 d:PlantMachinery 2022-05-31 06245933 d:PlantMachinery 2021-05-31 06245933 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 06245933 d:MotorVehicles 2021-06-01 2022-05-31 06245933 d:MotorVehicles 2022-05-31 06245933 d:MotorVehicles 2021-05-31 06245933 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 06245933 d:FurnitureFittings 2021-06-01 2022-05-31 06245933 d:FurnitureFittings 2022-05-31 06245933 d:FurnitureFittings 2021-05-31 06245933 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 06245933 d:OfficeEquipment 2021-06-01 2022-05-31 06245933 d:OfficeEquipment 2022-05-31 06245933 d:OfficeEquipment 2021-05-31 06245933 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 06245933 d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 06245933 d:CurrentFinancialInstruments 2022-05-31 06245933 d:CurrentFinancialInstruments 2021-05-31 06245933 d:Non-currentFinancialInstruments 2022-05-31 06245933 d:Non-currentFinancialInstruments 2021-05-31 06245933 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 06245933 d:CurrentFinancialInstruments d:WithinOneYear 2021-05-31 06245933 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 06245933 d:Non-currentFinancialInstruments d:AfterOneYear 2021-05-31 06245933 d:ShareCapital 2022-05-31 06245933 d:ShareCapital 2021-05-31 06245933 d:RetainedEarningsAccumulatedLosses 2022-05-31 06245933 d:RetainedEarningsAccumulatedLosses 2021-05-31 06245933 c:FRS102 2021-06-01 2022-05-31 06245933 c:AuditExempt-NoAccountantsReport 2021-06-01 2022-05-31 06245933 c:FullAccounts 2021-06-01 2022-05-31 06245933 c:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 06245933 d:HirePurchaseContracts d:WithinOneYear 2022-05-31 06245933 d:HirePurchaseContracts d:WithinOneYear 2021-05-31 06245933 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-05-31 06245933 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-05-31 06245933 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 06245933 d:AcceleratedTaxDepreciationDeferredTax 2021-05-31 06245933 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-05-31 06245933 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-05-31 06245933 d:LeasedAssetsHeldAsLessee 2022-05-31 06245933 d:LeasedAssetsHeldAsLessee 2021-05-31 iso4217:GBP xbrli:pure

Registered number: 06245933










INSIDE OUTSIDE KITCHENS & BATHROOMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2022

 
INSIDE OUTSIDE KITCHENS & BATHROOMS LIMITED
REGISTERED NUMBER: 06245933

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
28,925
40,733

  
28,925
40,733

Current assets
  

Stocks
 5 
5,124
750

Debtors: amounts falling due within one year
 6 
1,166
22,612

Cash at bank and in hand
 7 
73,867
20,351

  
80,157
43,713

Creditors: amounts falling due within one year
 8 
(76,756)
(42,575)

Net current assets
  
 
 
3,401
 
 
1,138

Total assets less current liabilities
  
32,326
41,871

Creditors: amounts falling due after more than one year
 9 
(5,980)
(16,233)

Provisions for liabilities
  

Deferred tax
 11 
(7,231)
(7,739)

  
 
 
(7,231)
 
 
(7,739)

Net assets
  
19,115
17,899


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
19,015
17,799

  
19,115
17,899


Page 1

 
INSIDE OUTSIDE KITCHENS & BATHROOMS LIMITED
REGISTERED NUMBER: 06245933
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S P Brind
Director

Date: 1 August 2022

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
INSIDE OUTSIDE KITCHENS & BATHROOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

1.


General information

Inside Outside Kitchens & Bathrooms Limited (06245933) is a privately owned company limited by shares and is incorporated in England & Wales. The registered office is Woodcot Cottage, Bunces Shaw Road, Farley Hill, Wokingham, RG7 1UU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
INSIDE OUTSIDE KITCHENS & BATHROOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
INSIDE OUTSIDE KITCHENS & BATHROOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 5

 
INSIDE OUTSIDE KITCHENS & BATHROOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 6

 
INSIDE OUTSIDE KITCHENS & BATHROOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).


4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 June 2021
6,613
81,686
5,754
5,597
99,650


Additions
-
-
-
3,410
3,410


Disposals
-
(27,192)
-
-
(27,192)



At 31 May 2022

6,613
54,494
5,754
9,007
75,868



Depreciation


At 1 June 2021
5,476
43,169
5,192
5,082
58,919


Charge for the year on owned assets
284
8,016
140
325
8,765


Disposals
-
(20,739)
-
-
(20,739)



At 31 May 2022

5,760
30,446
5,332
5,407
46,945



Net book value



At 31 May 2022
853
24,048
422
3,600
28,923



At 31 May 2021
1,138
38,517
561
515
40,731

Page 7

 
INSIDE OUTSIDE KITCHENS & BATHROOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2022
2021
£
£



Motor vehicles
22,534
30,046

22,534
30,046


5.


Stocks

2022
2021
£
£

Raw materials and consumables
5,124
750

5,124
750



6.


Debtors

2022
2021
£
£


Prepayments and accrued income
1,166
22,612

1,166
22,612



7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
73,867
20,351

73,867
20,351


Page 8

 
INSIDE OUTSIDE KITCHENS & BATHROOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
10,540
1,200

Corporation tax
13,748
3,151

Other taxation and social security
6,964
3,456

Obligations under finance lease and hire purchase contracts
10,252
10,252

Other creditors
19,413
18,091

Accruals and deferred income
15,839
6,425

76,756
42,575



9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Net obligations under finance leases and hire purchase contracts
5,980
16,233

5,980
16,233



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2022
2021
£
£


Within one year
10,252
10,252

Between 1-5 years
5,981
16,233

16,233
26,485

Page 9

 
INSIDE OUTSIDE KITCHENS & BATHROOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

11.


Deferred taxation




2022
2021


£

£






At beginning of year
(7,739)
(2,498)


Charged to profit or loss
508
(5,241)



At end of year
(7,231)
(7,739)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(7,231)
(7,739)

(7,231)
(7,739)


12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £6,419 (2021: £5,664).

 
Page 10