2022-04-012023-03-312023-03-31false10090602INTERIOR CEILINGS AND PARTITIONS 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INTERIOR CEILINGS AND PARTITIONS LTD

Registered Number
10090602
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

INTERIOR CEILINGS AND PARTITIONS LTD
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

SAEED, Martin
SAEED, Michael

Registered Address

19 Nailers Close
Birmingham
B32 3QR

Registered Number

10090602 (England and Wales)
INTERIOR CEILINGS AND PARTITIONS LTD
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets536,61045,370
36,61045,370
Current assets
Debtors66,240114,805
Cash at bank and on hand111,565112,448
117,805227,253
Creditors amounts falling due within one year7(126,195)(214,987)
Net current assets (liabilities)(8,390)12,266
Total assets less current liabilities28,22057,636
Creditors amounts falling due after one year8(22,673)(33,322)
Net assets5,54724,314
Capital and reserves
Called up share capital22
Profit and loss account5,54524,312
Shareholders' funds5,54724,314
The financial statements were approved and authorised for issue by the Board of Directors on 27 October 2023, and are signed on its behalf by:
SAEED, Michael
Director
Registered Company No. 10090602
INTERIOR CEILINGS AND PARTITIONS LTD
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: 33% on the reducing balance

Reducing balance (%)
Plant and machinery33
Fixtures and fittings33
Vehicles33
Office Equipment33
Revenue recognition policy
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
4.Employee information

20232022
Average number of employees during the year22
5.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 22-64,244-64,244
Additions1,338-2,1153,453
At 31 March 231,33864,2442,11567,697
Depreciation and impairment
At 01 April 22-18,874-18,874
Charge for year33811,34553012,213
At 31 March 2333830,21953031,087
Net book value
At 31 March 231,00034,0251,58536,610
At 31 March 22-45,370-45,370
6.Debtors

2023

2022

££
Trade debtors / trade receivables6,240114,502
Prepayments and accrued income-303
Total6,240114,805
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.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables4,82257,028
Bank borrowings and overdrafts9,8709,906
Taxation and social security84,375106,461
Finance lease and HP contracts27,12841,592
Total126,195214,987
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.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts22,67333,322
Total22,67333,322