1 July 2022 false No description of principal activity Taxfiler 2023.10 03584766business:PrivateLimitedCompanyLtd2022-07-012023-06-30 035847662022-06-30 035847662022-07-012023-06-30 03584766business:AuditExemptWithAccountantsReport2022-07-012023-06-30 03584766business:FilletedAccounts2022-07-012023-06-30 035847662023-06-30 03584766business:Director12022-07-012023-06-30 03584766business:RegisteredOffice2022-07-012023-06-30 035847662022-06-30 03584766core:WithinOneYear2023-06-30 03584766core:WithinOneYear2022-06-30 03584766core:AfterOneYear2023-06-30 03584766core:AfterOneYear2022-06-30 03584766core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 03584766core:ShareCapitalcore:PreviouslyStatedAmount2022-06-30 03584766core:CapitalRedemptionReservecore:PreviouslyStatedAmount2023-06-30 03584766core:CapitalRedemptionReservecore:PreviouslyStatedAmount2022-06-30 03584766core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 03584766core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-06-30 03584766core:PreviouslyStatedAmount2023-06-30 03584766core:PreviouslyStatedAmount2022-06-30 03584766business:SmallEntities2022-07-012023-06-30 03584766countries:EnglandWales2022-07-012023-06-30 03584766core:MotorVehicles2022-07-012023-06-30 03584766core:FurnitureFittings2022-07-012023-06-30 03584766core:ComputerEquipment2022-07-012023-06-30 03584766core:MotorVehicles2022-06-30 03584766core:FurnitureFittings2022-06-30 03584766core:ComputerEquipment2022-06-30 03584766core:MotorVehicles2023-06-30 03584766core:FurnitureFittings2023-06-30 03584766core:ComputerEquipment2023-06-30 03584766business:OrdinaryShareClass12022-07-012023-06-30 03584766business:OrdinaryShareClass12021-07-012022-06-30 035847662021-07-012022-06-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 03584766 (England and Wales)
IndustrialMachines.Net Limited Unaudited accounts for the year ended 30 June 2023
IndustrialMachines.Net Limited Unaudited accounts Contents
Page
- 2 -
IndustrialMachines.Net Limited Company Information for the year ended 30 June 2023
Director
Benjamin James Fowler
Company Number
03584766 (England and Wales)
Registered Office
5 ARDEN COURT ARDEN ROAD ALCESTER B49 6HN ENGLAND
Accountants
The Ledger House Accountancy Ltd Minerva Mill, Office 34 Station Road Alcester Warwickshire B49 5ET
- 3 -
IndustrialMachines.Net Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
45,937 
82,640 
Current assets
Inventories
26,500 
- 
Debtors
278,244 
198,632 
Cash at bank and in hand
188,796 
243,886 
493,540 
442,518 
Creditors: amounts falling due within one year
(301,586)
(239,917)
Net current assets
191,954 
202,601 
Total assets less current liabilities
237,891 
285,241 
Creditors: amounts falling due after more than one year
(21,385)
(29,923)
Net assets
216,506 
255,318 
Capital and reserves
Called up share capital
100 
100 
Capital redemption reserve
35 
35 
Profit and loss account
216,371 
255,183 
Shareholders' funds
216,506 
255,318 
For the year ending 30 June 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 director acknowledges his 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 and authorised for issue on 16 January 2024 and were signed on its behalf by
Benjamin James Fowler Director Company Registration No. 03584766
- 4 -
IndustrialMachines.Net Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
IndustrialMachines.Net Limited is a private company, limited by shares, registered in England and Wales, registration number 03584766. The registered office is 5 ARDEN COURT, ARDEN ROAD, ALCESTER, B49 6HN, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Motor vehicles
25% reducing balance
Fixtures & fittings
10% straight line
Computer equipment
33.3% straight line
Inventories
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 taxation
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. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
- 5 -
IndustrialMachines.Net Limited Notes to the Accounts for the year ended 30 June 2023
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 July 2022
125,088 
23,299 
14,012 
162,399 
Additions
- 
5,000 
675 
5,675 
Disposals
(68,420)
- 
- 
(68,420)
At 30 June 2023
56,668 
28,299 
14,687 
99,654 
Depreciation
At 1 July 2022
53,723 
13,052 
12,984 
79,759 
Charge for the year
10,625 
2,149 
739 
13,513 
On disposals
(39,555)
- 
- 
(39,555)
At 30 June 2023
24,793 
15,201 
13,723 
53,717 
Net book value
At 30 June 2023
31,875 
13,098 
964 
45,937 
At 30 June 2022
71,365 
10,247 
1,028 
82,640 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
19,235 
21,068 
Trade debtors
236,753 
156,654 
Accrued income and prepayments
22,256 
20,910 
278,244 
198,632 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
68,426 
32,641 
Taxes and social security
62,438 
53,027 
Other creditors
12,969 
63,722 
Accruals
52,003 
527 
Deferred income
105,750 
90,000 
301,586 
239,917 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
19,908 
29,923 
Taxes and social security
1,477 
- 
21,385 
29,923 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
- 6 -
IndustrialMachines.Net Limited Notes to the Accounts for the year ended 30 June 2023
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
- 7 -