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REGISTERED NUMBER: 03646330 (England and Wales)















INTONE DESIGNS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021






INTONE DESIGNS LIMITED (REGISTERED NUMBER: 03646330)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


INTONE DESIGNS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2021







DIRECTORS: Mr R Parrish
Mrs L C R Deaton
Mr M D Deaton





SECRETARY: Mrs L C R Deaton





REGISTERED OFFICE: Unit 3 Britannia Industrial Estate
Cherry Holt Road
Bourne
Lincolnshire
PE10 9LA





REGISTERED NUMBER: 03646330 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

INTONE DESIGNS LIMITED (REGISTERED NUMBER: 03646330)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 118,155 115,345
118,155 115,345

CURRENT ASSETS
Stocks 233,387 252,466
Debtors 6 139,166 100,998
Cash at bank and in hand 2,339 14,893
374,892 368,357
CREDITORS
Amounts falling due within one year 7 260,427 253,346
NET CURRENT ASSETS 114,465 115,011
TOTAL ASSETS LESS CURRENT LIABILITIES 232,620 230,356

CREDITORS
Amounts falling due after more than one year 8 (71,350 ) (78,977 )

PROVISIONS FOR LIABILITIES (29,439 ) (21,802 )
NET ASSETS 131,831 129,577

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 131,731 129,477
131,831 129,577

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.

INTONE DESIGNS LIMITED (REGISTERED NUMBER: 03646330)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2021


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 6 September 2022 and were signed on its behalf by:





Mrs L C R Deaton - Director


INTONE DESIGNS LIMITED (REGISTERED NUMBER: 03646330)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

1. STATUTORY INFORMATION

Intone Designs 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
Turnover represents amounts charged to customers for goods and services provided during the year, excluding value added tax and trade discounts. Sales are recognised upon delivery to the customer, or upon collection by the customer.

Intangible fixed assets
Intangible fixed assets relate to IT Software. Amortisation has been charged at 10% on cost.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 10% on cost and 10% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

INTONE DESIGNS LIMITED (REGISTERED NUMBER: 03646330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2020 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2020
and 31 October 2021 15,756
AMORTISATION
At 1 November 2020
and 31 October 2021 15,756
NET BOOK VALUE
At 31 October 2021 -
At 31 October 2020 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2020 8,600 500,071 85,944 46,044 640,659
Additions - 1,074 512 18,145 19,731
At 31 October 2021 8,600 501,145 86,456 64,189 660,390
DEPRECIATION
At 1 November 2020 8,000 423,923 66,067 27,324 525,314
Charge for year 200 8,566 2,234 5,921 16,921
At 31 October 2021 8,200 432,489 68,301 33,245 542,235
NET BOOK VALUE
At 31 October 2021 400 68,656 18,155 30,944 118,155
At 31 October 2020 600 76,148 19,877 18,720 115,345

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 121,828 62,524
Other debtors 17,338 38,474
139,166 100,998

INTONE DESIGNS LIMITED (REGISTERED NUMBER: 03646330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 10,169 10,169
Hire purchase contracts 18,163 23,401
Trade creditors 160,014 130,955
Taxation and social security 37,528 32,661
Other creditors 34,553 56,160
260,427 253,346

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 36,322 39,831
Hire purchase contracts 35,028 39,146
71,350 78,977

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts 53,191 62,547

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:


Number: Class: Nominal value: 2021 2020

51 A Ordinary 1 51 51
25 B Ordinary 1 25 25
24 C Ordinary 1 24 24
100 100


11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R Parrish by virtue of his 51% shareholding