Company Registration No. 11809518 (England and Wales)
Inflatebounce Limited
Unaudited accounts
for the year ended 28 February 2023
Inflatebounce Limited
Unaudited accounts
Contents
Inflatebounce Limited
Company Information
for the year ended 28 February 2023
Directors
Christopher Keen
Paul Grainger
Company Number
11809518 (England and Wales)
Registered Office
Fenton Manor Farm
Fenton Road
Warboys
Cambs
PE28 2SN
Inflatebounce Limited
Statement of financial position
as at 28 February 2023
Tangible assets
73,455
76,217
Cash at bank and in hand
41,266
136,956
Creditors: amounts falling due within one year
(59,177)
(159,529)
Net current assets
10,870
10,163
Total assets less current liabilities
84,325
86,380
Creditors: amounts falling due after more than one year
(36,189)
(43,175)
Provisions for liabilities
Deferred tax
(13,951)
(14,481)
Called up share capital
100
100
Profit and loss account
34,085
28,624
Shareholders' funds
34,185
28,724
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by
Christopher Keen
Director
Company Registration No. 11809518
Inflatebounce Limited
Notes to the Accounts
for the year ended 28 February 2023
Inflatebounce Limited is a private company, limited by shares, registered in England and Wales, registration number 11809518. The registered office is Fenton Manor Farm, Fenton Road, Warboys, Cambs, PE28 2SN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 the admission date booked and attended by the customer.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inflatebounce Limited
Notes to the Accounts
for the year ended 28 February 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
At 28 February 2023
128,137
Charge for the year
21,517
Surplus on revaluation
(944)
At 28 February 2023
54,682
At 28 February 2023
73,455
At 28 February 2022
76,217
Amounts falling due within one year
Accrued income and prepayments
6,922
-
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,478
3,432
Trade creditors
12,821
27,015
Taxes and social security
-
4,217
Other creditors
490
70,834
Loans from directors
2,578
43,257
Deferred income
15,467
1,404
Inflatebounce Limited
Notes to the Accounts
for the year ended 28 February 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Operating lease commitments
2023
2022
At 28 February 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
152,168
45,098
Later than one year and not later than five years
593,399
11,717
Later than five years
634,920
-
10
Transactions with related parties
During the year a director lent money to this company. The balance at 28 February 2023 was £2,578 (2022: £43,356).
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Average number of employees
During the year the average number of employees was 38 (2022: 29).