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REGISTERED NUMBER: 09644837 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

INTER-TUBE LTD

INTER-TUBE LTD (REGISTERED NUMBER: 09644837)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


INTER-TUBE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mrs V E Peters
N B Peters





REGISTERED OFFICE: Ground Floor
Custom House
Waterfront East
Brierley Hill
West Midlands
DY5 1XH





REGISTERED NUMBER: 09644837 (England and Wales)





ACCOUNTANTS: Poole Waterfield Limited
Ground Floor
Custom House
Waterfront East
Brierley Hill
West Midlands
DY5 1XH

INTER-TUBE LTD (REGISTERED NUMBER: 09644837)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,625 2,437
Tangible assets 5 83,379 17,529
85,004 19,966

CURRENT ASSETS
Stocks 1,250,812 1,195,689
Debtors 6 2,041,922 3,097,760
Cash at bank 15,224 151,156
3,307,958 4,444,605
CREDITORS
Amounts falling due within one year 7 3,077,841 4,186,472
NET CURRENT ASSETS 230,117 258,133
TOTAL ASSETS LESS CURRENT
LIABILITIES

315,121

278,099

CREDITORS
Amounts falling due after more than one
year

8

(56,327

)

-

PROVISIONS FOR LIABILITIES 10 - (4,781 )
NET ASSETS 258,794 273,318

INTER-TUBE LTD (REGISTERED NUMBER: 09644837)

BALANCE SHEET - continued
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 258,744 273,268
258,794 273,318

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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:





N B Peters - Director


INTER-TUBE LTD (REGISTERED NUMBER: 09644837)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Inter-tube 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.

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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


INTER-TUBE LTD (REGISTERED NUMBER: 09644837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
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.

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 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022
and 30 June 2023 3,250
AMORTISATION
At 1 July 2022 813
Charge for year 812
At 30 June 2023 1,625
NET BOOK VALUE
At 30 June 2023 1,625
At 30 June 2022 2,437

The 'other intangible assets' are represented by app software development costs.

INTER-TUBE LTD (REGISTERED NUMBER: 09644837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 1,128 3,512 - 21,415 26,055
Additions - 650 94,020 730 95,400
At 30 June 2023 1,128 4,162 94,020 22,145 121,455
DEPRECIATION
At 1 July 2022 282 2,638 - 5,606 8,526
Charge for year 212 381 23,505 5,452 29,550
At 30 June 2023 494 3,019 23,505 11,058 38,076
NET BOOK VALUE
At 30 June 2023 634 1,143 70,515 11,087 83,379
At 30 June 2022 846 874 - 15,809 17,529

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 2,041,237 3,068,076
Other debtors - 24,998
Prepayments 685 4,686
2,041,922 3,097,760

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 7,259 -
Trade creditors 1,055,237 2,261,048
Taxation and social security 327,321 308,054
Other creditors 1,688,024 1,617,370
3,077,841 4,186,472

Included in "Other creditors" above is trade finance of £1,670,877 (2022 - £1,555,714).

INTER-TUBE LTD (REGISTERED NUMBER: 09644837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 56,327 -

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Trade finance 1,670,841 1,555,714
Hire purchase 63,586 -
1,734,427 1,555,714

The trade finance is secured by fixed and floating charges over the assets of the company, together with a limited personal guarantee of a member of the Board of Directors.

The hire purchase is secured by a fixed and floating charge over the asset to which it relates.

10. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax - 4,781

Deferred
tax
£   
Balance at 1 July 2022 4,781
Unused amounts reversed during year (4,781 )
Balance at 30 June 2023 -