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REGISTERED NUMBER: 06051393 (England and Wales)












INVERTER DRIVES SOUTHERN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






INVERTER DRIVES SOUTHERN LIMITED (REGISTERED NUMBER: 06051393)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INVERTER DRIVES SOUTHERN LIMITED

COMPANY INFORMATION
for the year ended 31 January 2023







DIRECTORS: P W Livesey
A Loxton





SECRETARY: P W Livesey





REGISTERED OFFICE: Station House
Connaught Road
Brookwood
WOKING
Surrey
GU24 0ER





REGISTERED NUMBER: 06051393 (England and Wales)





ACCOUNTANTS: HPCA Limited
Station House
Connaught Road
Brookwood
Woking
Surrey
GU24 0ER

INVERTER DRIVES SOUTHERN LIMITED (REGISTERED NUMBER: 06051393)

BALANCE SHEET
31 January 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,786 10,749

CURRENT ASSETS
Stocks 303,324 171,682
Debtors 5 538,463 648,878
Cash at bank 646,725 454,754
1,488,512 1,275,314
CREDITORS
Amounts falling due within one year 6 (865,587 ) (797,775 )
NET CURRENT ASSETS 622,925 477,539
TOTAL ASSETS LESS CURRENT
LIABILITIES

630,711

488,288

PROVISIONS FOR LIABILITIES 7 (1,946 ) (2,042 )
NET ASSETS 628,765 486,246

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 8 50 50
Retained earnings 8 628,665 486,146
SHAREHOLDERS' FUNDS 628,765 486,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

INVERTER DRIVES SOUTHERN LIMITED (REGISTERED NUMBER: 06051393)

BALANCE SHEET - continued
31 January 2023


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 13 October 2023 and were signed on its behalf by:





P W Livesey - Director


INVERTER DRIVES SOUTHERN LIMITED (REGISTERED NUMBER: 06051393)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2023

1. STATUTORY INFORMATION

Inverter Drives Southern 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

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.


INVERTER DRIVES SOUTHERN LIMITED (REGISTERED NUMBER: 06051393)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 2 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 3,282 24,958 12,255 - 40,495
Additions - - - 1,132 1,132
At 31 January 2023 3,282 24,958 12,255 1,132 41,627
DEPRECIATION
At 1 February 2022 1,211 22,816 5,719 - 29,746
Charge for year 528 960 2,451 156 4,095
At 31 January 2023 1,739 23,776 8,170 156 33,841
NET BOOK VALUE
At 31 January 2023 1,543 1,182 4,085 976 7,786
At 31 January 2022 2,071 2,142 6,536 - 10,749

INVERTER DRIVES SOUTHERN LIMITED (REGISTERED NUMBER: 06051393)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 503,475 601,312
Other debtors 33,738 46,818
Prepayments 1,250 748
538,463 648,878

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 306,863 425,631
Tax 80,920 56,789
Social security and other taxes 964 1,424
VAT 61,564 16,500
Other creditors - 780
Directors' current accounts 393,184 290,872
Accrued expenses 22,092 5,779
865,587 797,775

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,946 2,042

Deferred
tax
£   
Balance at 1 February 2022 2,042
Utilised during year (96 )
Balance at 31 January 2023 1,946

All of the deferred taxation provision relates to timing differences between the recognition of capital allowances and depreciation of fixed assets.

INVERTER DRIVES SOUTHERN LIMITED (REGISTERED NUMBER: 06051393)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

8. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 February 2022 486,146 50 486,196
Profit for the year 342,519 342,519
Dividends (200,000 ) (200,000 )
At 31 January 2023 628,665 50 628,715

9. ULTIMATE CONTROLLING PARTY

The controlling party is P Livesey.