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REGISTERED NUMBER: 03894378 (England and Wales)















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: M Love
I R Casselden
J K Justice
N King
H O'Shaughnessy





SECRETARY: I R Casselden





REGISTERED OFFICE: Unit 4
Brunel Road
Churchfields Industrial Estate
St. Leonards On Sea
East Sussex
TN38 9RT





REGISTERED NUMBER: 03894378 (England and Wales)





ACCOUNTANTS: x5 Xeinadin Group
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 2,000 2,000
Property, plant and equipment 5 119,318 127,576
Investments 6 50 50
121,368 129,626

CURRENT ASSETS
Inventories 7 598,186 564,665
Debtors 8 802,885 718,141
Cash at bank and in hand 143,298 439,985
1,544,369 1,722,791
CREDITORS
Amounts falling due within one year 9 496,156 787,081
NET CURRENT ASSETS 1,048,213 935,710
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,169,581

1,065,336

CREDITORS
Amounts falling due after more than one
year

10

(34,998

)

(50,000

)

PROVISIONS FOR LIABILITIES (22,421 ) (23,935 )
NET ASSETS 1,112,162 991,401

CAPITAL AND RESERVES
Called up share capital 46,387 46,387
Share premium 38,497 38,497
Retained earnings 1,027,278 906,517
SHAREHOLDERS' FUNDS 1,112,162 991,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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.

INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378)

BALANCE SHEET - continued
28 FEBRUARY 2022


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

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 9 September 2022 and were signed on its behalf by:




M Love - Director



I R Casselden - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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
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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - Straight line over 3 years

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 28 (2021 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 March 2021
and 28 February 2022 254,122 2,000 256,122
AMORTISATION
At 1 March 2021
and 28 February 2022 254,122 - 254,122
NET BOOK VALUE
At 28 February 2022 - 2,000 2,000
At 28 February 2021 - 2,000 2,000

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2021 24,502 217,055 7,882 30,270 279,709
Additions - 18,175 383 - 18,558
At 28 February 2022 24,502 235,230 8,265 30,270 298,267
DEPRECIATION
At 1 March 2021 17,024 100,659 5,701 28,749 152,133
Charge for year 1,869 23,582 468 897 26,816
At 28 February 2022 18,893 124,241 6,169 29,646 178,949
NET BOOK VALUE
At 28 February 2022 5,609 110,989 2,096 624 119,318
At 28 February 2021 7,478 116,396 2,181 1,521 127,576

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 50
NET BOOK VALUE
At 28 February 2022 50
At 28 February 2021 50

7. INVENTORIES
2022 2021
£    £   
Stocks 525,870 432,486
Finished goods 72,316 132,179
598,186 564,665

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 613,840 525,177
Amounts recoverable under contracts 149,881 105,255
Other debtors 38 1
Amounts owed by related undertakings 1 11,744
VAT 10,539 53,457
Prepayments 28,586 22,507
802,885 718,141

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 9,492 -
Trade creditors 399,159 703,909
Amounts owed to associates 363 3,221
Tax 30,891 42,100
Social security and other taxes 15,333 15,097
Pension Payable 1,676 1,571
Other creditors 13,400 10,327
Accrued expenses 25,842 10,856
496,156 787,081

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 34,998 50,000

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.






x5 Xeinadin Group
2 Upperton Gardens
Eastbourne
East Sussex
BN21 2AH


9 September 2022