3 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 13,609 384 13,993 10,270 505 10,775 3,218 3,339 xbrli:pure xbrli:shares iso4217:GBP 03645522 2022-10-01 2023-09-30 03645522 2023-09-30 03645522 2022-09-30 03645522 2021-10-01 2022-09-30 03645522 2022-09-30 03645522 2021-09-30 03645522 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 03645522 bus:Director1 2022-10-01 2023-09-30 03645522 core:WithinOneYear 2023-09-30 03645522 core:WithinOneYear 2022-09-30 03645522 core:ShareCapital 2023-09-30 03645522 core:ShareCapital 2022-09-30 03645522 core:RetainedEarningsAccumulatedLosses 2023-09-30 03645522 core:RetainedEarningsAccumulatedLosses 2022-09-30 03645522 bus:SmallEntities 2022-10-01 2023-09-30 03645522 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 03645522 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 03645522 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 03645522 bus:FullAccounts 2022-10-01 2023-09-30 03645522 bus:OrdinaryShareClass1 2023-09-30 03645522 bus:OrdinaryShareClass1 2022-09-30 03645522 core:OfficeEquipment 2022-10-01 2023-09-30 03645522 core:OfficeEquipment 2022-09-30 03645522 core:OfficeEquipment 2023-09-30 03645522 core:AccountingPolicyChangeIncreaseDecrease bus:Director1 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 03645522
Interesting Devices Ltd.
Filleted Unaudited Financial Statements
30 September 2023
Interesting Devices Ltd.
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
3,218
3,339
Current assets
Stocks
4,183
3,795
Debtors
5
13,335
8,988
Cash at bank and in hand
28,718
40,165
-------
-------
46,236
52,948
Prepayments and accrued income
618
219
Creditors: amounts falling due within one year
6
4,769
5,710
-------
-------
Net current assets
42,085
47,457
-------
-------
Total assets less current liabilities
45,303
50,796
Accruals and deferred income
1,120
1,060
-------
-------
Net assets
44,183
49,736
-------
-------
Capital and reserves
Called up share capital
7
2
2
Profit and loss account
44,181
49,734
-------
-------
Shareholders funds
44,183
49,736
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Interesting Devices Ltd.
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 20 November 2023 , and are signed on behalf of the board by:
D.E. Farrell
Director
Company registration number: 03645522
Interesting Devices Ltd.
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered and trading in England and Wales with company number 03645522 . The address of the registered office is 24 The Crescent, Keresley End, Coventry, CV7 8JT, West Midlands.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.
Judgements in applying accounting policies and key sources of estimation in uncertainty
In preparing these financial statements the director has had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover represents the net invoiced sales of goods from ordinary activities, excluding VAT.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Equipment
-
15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 October 2022
13,609
13,609
Additions
384
384
-------
-------
At 30 September 2023
13,993
13,993
-------
-------
Depreciation
At 1 October 2022
10,270
10,270
Charge for the year
505
505
-------
-------
At 30 September 2023
10,775
10,775
-------
-------
Carrying amount
At 30 September 2023
3,218
3,218
-------
-------
At 30 September 2022
3,339
3,339
-------
-------
5. Debtors
2023
2022
£
£
Trade debtors
13,335
8,988
-------
------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
3,334
3,588
Other creditors
1,435
2,122
------
------
4,769
5,710
------
------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
8. Director's advances, credits and guarantees
At the reporting date the directors loan account was in credit by £1,371 (2022: £105). There is no fixed term for repayment and no interest is charged.