Registered number
NI630962
Ifenestration Ltd
Report and Accounts
30 April 2023
Ifenestration Ltd
Registered number: NI630962
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 29,336 36,670
Current assets
Stocks 11,000 7,000
Debtors 4 831 3,885
Cash at bank and in hand 3,077 1,889
14,908 12,774
Creditors: amounts falling due within one year 5 (5,859) (6,093)
Net current assets 9,049 6,681
Total assets less current liabilities 38,385 43,351
Creditors: amounts falling due after more than one year 6 (59,768) (53,445)
Net liabilities (21,383) (10,094)
Capital and reserves
Called up share capital 1 1
Profit and loss account (21,384) (10,095)
Shareholders' funds (21,383) (10,094)
The directors are 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 directors acknowledge their 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.
John Magee
Director
Approved by the board on 28 September 2023
Ifenestration Ltd
Notes to the Accounts
for the year ended 30 April 2023
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.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 May 2022 36,670
At 30 April 2023 36,670
Depreciation
Charge for the year 7,334
At 30 April 2023 7,334
Net book value
At 30 April 2023 29,336
At 30 April 2022 36,670
4 Debtors 2023 2022
£ £
Other debtors 831 3,885
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 4,273 4,273
Other taxes and social security costs 1,022 407
Other creditors 564 1,413
5,859 6,093
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 33,521 22,924
Obligations under finance lease and hire purchase contracts 26,247 30,521
59,768 53,445
7 Other information
Ifenestration Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
22 St Colmans Park
Newry
BT34 2BX
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