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REGISTERED NUMBER: SC517135 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

FOR

IN-FLOOR LIMITED

IN-FLOOR LIMITED (REGISTERED NUMBER: SC517135)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2021




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


IN-FLOOR LIMITED (REGISTERED NUMBER: SC517135)

ABRIDGED BALANCE SHEET
31 October 2021

31.10.21 31.10.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,760 13,014

CURRENT ASSETS
Stocks 96,500 71,500
Debtors 78,379 100,795
Cash at bank 243,871 16,920
418,750 189,215
CREDITORS
Amounts falling due within one year 427,488 200,292
NET CURRENT LIABILITIES (8,738 ) (11,077 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,022

1,937

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,020 1,935
1,022 1,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

IN-FLOOR LIMITED (REGISTERED NUMBER: SC517135)

ABRIDGED BALANCE SHEET - continued
31 October 2021



The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2022 and were signed on its behalf by:





I Pickering - Director


IN-FLOOR LIMITED (REGISTERED NUMBER: SC517135)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2021

1. STATUTORY INFORMATION

In-Floor Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC517135

Registered office: 22 Backbrae Street
Kilsyth
G65 0NH

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 8 ) .

IN-FLOOR LIMITED (REGISTERED NUMBER: SC517135)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2021

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2020
and 31 October 2021 30,847
DEPRECIATION
At 1 November 2020 17,833
Charge for year 3,254
At 31 October 2021 21,087
NET BOOK VALUE
At 31 October 2021 9,760
At 31 October 2020 13,014

5. PENSION COMMITMENTS

The company operates a defined contribution 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 £2,521 (2018: £Nil). At the balance sheet date, unpaid contributions of £3,856 (2018: £Nil) were due to the fund. They are included in other creditors.

6. COVID 19

As a member of the retail sector the business was not subject to the mandatory shut down imposed by both the UK and Scottish Governments. However, due to significant footfall/reduced orders/supplier issues etc the Directors made the decision to temporarily cease trading/shut down. During this period staff have been furloughed, laid off, made redundant etc. With staff being placed on furlough the business is eligible for the Government's Coronavirus Job Retention Scheme (CJRS) which will reimburse 80% of the salaries of furloughed staff of all eligible businesses. It has also made an application for a grant through the Scottish Government Coronavirus Business Support Fund and should it be successful will receive £25,000. Additional finance has been sought through the Coronavirus Business Interruption Loan Scheme with £50,000 being received.

The directors/owners have made it clear that once restrictions were lifted trading resumed at full capacity with immediate effect.