REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022 |
FOR |
INTERFACE MANUFACTURING LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022 |
FOR |
INTERFACE MANUFACTURING LIMITED |
INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Report of the Accountants | 8 |
INTERFACE MANUFACTURING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 Upperton Gardens |
Eastbourne |
East Sussex |
BN21 2AH |
INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378) |
BALANCE SHEET |
28 FEBRUARY 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Property, plant and equipment | 5 |
Investments | 6 |
CURRENT ASSETS |
Inventories | 7 |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378) |
BALANCE SHEET - continued |
28 FEBRUARY 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
1. | STATUTORY INFORMATION |
Interface Manufacturing Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
The directors consider that the goodwill purchased in 2006 now has negligible value since it related to client relationships forged by the previous owner. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Inventories 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. |
Deferred tax |
Deferred tax is not recognised in respect of timing differences that have originated but not reversed at the balance sheet date. The directors accept that this accounting treatment does not comply with Financial Reporting Standard 102 but still conclude that the financial statements give a true and fair view of the company's financial position and performance. |
INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1 March 2021 |
and 28 February 2022 |
AMORTISATION |
At 1 March 2021 |
and 28 February 2022 |
NET BOOK VALUE |
At 28 February 2022 |
At 28 February 2021 |
5. | PROPERTY, PLANT AND EQUIPMENT |
Improvements | Fixtures |
to | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 March 2021 |
Additions |
At 28 February 2022 |
DEPRECIATION |
At 1 March 2021 |
Charge for year |
At 28 February 2022 |
NET BOOK VALUE |
At 28 February 2022 |
At 28 February 2021 |
INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 March 2021 |
and 28 February 2022 |
NET BOOK VALUE |
At 28 February 2022 |
At 28 February 2021 |
7. | INVENTORIES |
2022 | 2021 |
£ | £ |
Stocks |
Finished goods |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts recoverable under contracts | 149,881 | 105,255 |
Other debtors |
Amounts owed by related undertakings | 1 | 11,744 |
VAT |
Prepayments |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to associates | 363 | 3,221 |
Tax |
Social security and other taxes |
Pension Payable | 1,676 | 1,571 |
Other creditors |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
11. | CHARGES |
The Registrar of Companies for England and Wales certified that a debenture dated 1 July 2010 for securing all monies due or to become due from the company to HSBC Bank Plc on any account whatsoever, was registered pursuant to chapter 1 part 25 of the Companies Act 2006 on the 6 July 2010. |
There is also a fixed and floating charge over all property and assets dated 1 September 2006 in favour of RBS Invoice Finance Limited. |
INTERFACE MANUFACTURING LIMITED |
REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
INTERFACE MANUFACTURING LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 28 February 2022. |
We have prepared these finance statements, which comprise the Income Statement, Balance Sheet and the related notes, based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements. |
On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view". |
You have determined that the company is exempt from the statutory requirement for an audit for this accounting period. Therefore, the financial statements are unaudited. |
The financial statements are provided exclusively to the directors of the company for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance. |
2 Upperton Gardens |
Eastbourne |
East Sussex |
BN21 2AH |