Registered number
06011067
INSIDE OUTSIDE DESIGN LTD
Filleted Accounts
30 November 2021
INSIDE OUTSIDE DESIGN LTD
Registered number: 06011067
Balance Sheet
as at 30 November 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 4,048 1,902
Current assets
Debtors 4 25,619 21,884
Cash at bank and in hand 7,801 -
33,420 21,884
Creditors: amounts falling due within one year 5 (19,314) (13,630)
Net current assets 14,106 8,254
Total assets less current liabilities 18,154 10,156
Creditors: amounts falling due after more than one year 6 (6,250) (9,000)
Provisions for liabilities (769) (361)
Net assets 11,135 795
Capital and reserves
Called up share capital 2 2
Profit and loss account 11,133 793
Shareholders' funds 11,135 795
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G T Jones
Director
Approved by the board on 13 September 2022
INSIDE OUTSIDE DESIGN LTD
Notes to the Accounts
for the year ended 30 November 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2020 22,607
Additions 3,668
At 30 November 2021 26,275
Depreciation
At 1 December 2020 20,705
Charge for the year 1,522
At 30 November 2021 22,227
Net book value
At 30 November 2021 4,048
At 30 November 2020 1,902
4 Debtors 2021 2020
£ £
Other debtors 25,619 21,884
5 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 2,500 5,655
Trade creditors - 280
Taxation and social security costs 16,464 7,345
Other creditors 350 350
19,314 13,630
6 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 6,250 9,000
7 Loans 2021 2020
£ £
Creditors include:
Instalments falling due for payment after more than five years - 1,000
8 Controlling party
The company is under the control of G T Jones by virtue of his shareholding in the company.
9 Other information
INSIDE OUTSIDE DESIGN LTD is a private company limited by shares and incorporated in England. Its registered office is:
2 Oak Tree Farm
Hambrook
Chichester
West Sussex
PO18 8QA
INSIDE OUTSIDE DESIGN LTD 06011067 false 2020-12-01 2021-11-30 2021-11-30 VT Final Accounts April 2022 G T Jones No description of principal activity 06011067 2019-12-01 2020-11-30 06011067 core:WithinOneYear 2020-11-30 06011067 core:AfterOneYear 2020-11-30 06011067 core:ShareCapital 2020-11-30 06011067 core:RetainedEarningsAccumulatedLosses 2020-11-30 06011067 2020-12-01 2021-11-30 06011067 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 06011067 bus:AuditExemptWithAccountantsReport 2020-12-01 2021-11-30 06011067 bus:Director40 2020-12-01 2021-11-30 06011067 1 2020-12-01 2021-11-30 06011067 2 2020-12-01 2021-11-30 06011067 core:PlantMachinery 2020-12-01 2021-11-30 06011067 countries:England 2020-12-01 2021-11-30 06011067 bus:FRS102 2020-12-01 2021-11-30 06011067 bus:FullAccounts 2020-12-01 2021-11-30 06011067 2021-11-30 06011067 core:WithinOneYear 2021-11-30 06011067 core:AfterOneYear 2021-11-30 06011067 core:ShareCapital 2021-11-30 06011067 core:RetainedEarningsAccumulatedLosses 2021-11-30 06011067 core:PlantMachinery 2021-11-30 06011067 2020-11-30 06011067 core:PlantMachinery 2020-11-30 iso4217:GBP xbrli:pure