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REGISTERED NUMBER: 06826131 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

INDUSTRIAL ABSEILING LTD

INDUSTRIAL ABSEILING LTD (REGISTERED NUMBER: 06826131)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INDUSTRIAL ABSEILING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: K Rhodes
C Rhodes





REGISTERED OFFICE: 28 Station Road
Lidlington
Bedfordshire
MK43 0SE





REGISTERED NUMBER: 06826131 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

INDUSTRIAL ABSEILING LTD (REGISTERED NUMBER: 06826131)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 56,303 39,741

CURRENT ASSETS
Debtors 6 122,086 173,853
Cash at bank 73,300 48,447
195,386 222,300
CREDITORS
Amounts falling due within one year 7 111,934 108,877
NET CURRENT ASSETS 83,452 113,423
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,755

153,164

CREDITORS
Amounts falling due after more than one year 8 - 4,000
NET ASSETS 139,755 149,164

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 139,655 149,064
SHAREHOLDERS' FUNDS 139,755 149,164

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 29 November 2023 and were signed on its behalf by:





C Rhodes - Director


INDUSTRIAL ABSEILING LTD (REGISTERED NUMBER: 06826131)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Industrial Abseiling 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 presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair vale of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

INDUSTRIAL ABSEILING LTD (REGISTERED NUMBER: 06826131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 March 2022 25,303 122,254 147,557
Additions 1,187 54,476 55,663
Disposals - (110,597 ) (110,597 )
At 28 February 2023 26,490 66,133 92,623
Depreciation
At 1 March 2022 16,063 91,753 107,816
Charge for year 4,776 8,068 12,844
Eliminated on disposal - (84,340 ) (84,340 )
At 28 February 2023 20,839 15,481 36,320
Net book value
At 28 February 2023 5,651 50,652 56,303
At 28 February 2022 9,240 30,501 39,741

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
Additions 13,999
At 28 February 2023 13,999
Depreciation
Charge for year 1,750
At 28 February 2023 1,750
Net book value
At 28 February 2023 12,249

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 118,009 148,957
Other debtors 4,077 24,896
122,086 173,853

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,581 3,000
Trade creditors 5,375 25,403
Taxation and social security 81,186 46,141
Other creditors 21,792 34,333
111,934 108,877

INDUSTRIAL ABSEILING LTD (REGISTERED NUMBER: 06826131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Obligations held under hire purchase are secured on the assets concerned.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 4,000

Obligations held under hire purchase are secured on the assets concerned.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

Included within creditors is an amount of £1,371 (2022: debtor of £24,728) due to C Rhodes and K Rhodes, directors.No interest has been charged on this balance during the year (2022: £1,178) and there are no set repayment terms.