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REGISTERED NUMBER: 08904706 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

IDG SUPPLY UK LTD

IDG SUPPLY UK LTD (REGISTERED NUMBER: 08904706)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IDG SUPPLY UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







Directors: S M Timmons
D H Ball
C E Delph





Registered office: Suite 2 First Floor
10 Temple Back
Bristol
BS1 6FL





Registered number: 08904706 (England and Wales)





Auditors: Mark Arber Limited
Statutory Auditors
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

IDG SUPPLY UK LTD (REGISTERED NUMBER: 08904706)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £   
CURRENT ASSETS
Debtors 4 1,024,620 1,268,910
Cash at bank - 24,760
1,024,620 1,293,670
CREDITORS
Amounts falling due within one year 5 (1,162,096 ) (1,350,200 )
NET CURRENT LIABILITIES (137,476 ) (56,530 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(137,476

)

(56,530

)

CAPITAL AND RESERVES
Called up share capital 251,500 251,500
Retained earnings (388,976 ) (308,030 )
SHAREHOLDERS' FUNDS (137,476 ) (56,530 )

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 31 October 2023 and were signed on its behalf by:





C E Delph - Director


IDG SUPPLY UK LTD (REGISTERED NUMBER: 08904706)

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

1. STATUTORY INFORMATION

IDG Supply UK Ltd 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.

The Company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

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.

Going concern
These accounts have been drawn up on the going concern basis. The company is dependent upon the support of its parent company in order to meet its working capital requirements. The parent company has provided assurances that that support will continue for a period that exceeds twelve months from the date of approval of these financial statements. On the basis of these assurances the director's believe the company will continue to have sufficient funds in order to meet its financial liabilities as they fall due and that the going concern basis is appropriate.

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 5 (2020 - 5 ) .

IDG SUPPLY UK LTD (REGISTERED NUMBER: 08904706)

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 891,667 1,107,062
Amounts owed by group undertakings 25,002 23,686
Prepayments 107,951 138,162
1,024,620 1,268,910

The amounts owed by group undertakings totalling £25,002 (2020: £23,686) are unsecured, interest free and repayable on demand.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 5,583 -
Trade creditors 177,609 169,731
Amounts owed to group undertakings 917,954 1,126,250
VAT 29,960 44,545
Accruals and deferred income 30,990 9,674
1,162,096 1,350,200

The amounts owed to group undertakings totalling £917,954 (2020: £1,126,250) are unsecured, interest free and repayable on demand.

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Arber (Senior Statutory Auditor)
for and on behalf of Mark Arber Limited

7. PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represent contributions payable by the Company to the fund and amounted to £2,897 (2020: £2,316). Contribution totalling £NIL (2020: £NIL) were payable to the fund at the balance sheet date.

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

The immediate parent company is IDG Holdings Europe Ltd a company incorporated in the United Kingdom.

The ultimate parent company is Sonepar S.A.S a company incorporated in France.