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Unaudited Financial Statements

for the Year Ended 31 July 2023

for

into the loft Limited

into the loft Limited (Registered number: 07586479)

Contents of the Financial Statements
for the Year Ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


into the loft Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: D Fernandez
Miss L Charlton





REGISTERED OFFICE: 8-10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 07586479 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

into the loft Limited (Registered number: 07586479)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,638 18,870

CURRENT ASSETS
Debtors 5 70,334 12,643
Cash at bank and in hand 17,401 36,344
87,735 48,987
CREDITORS
Amounts falling due within one year 6 101,411 51,155
NET CURRENT LIABILITIES (13,676 ) (2,168 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,962

16,702

CREDITORS
Amounts falling due after more than one
year

7

(10,295

)

(12,950

)

PROVISIONS FOR LIABILITIES 8 (5,509 ) (3,585 )
NET ASSETS 158 167

CAPITAL AND RESERVES
Called up share capital 9 4 4
Retained earnings 154 163
SHAREHOLDERS' FUNDS 158 167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

into the loft Limited (Registered number: 07586479)

Balance Sheet - continued
31 July 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2024 and were signed on its behalf by:




Miss L Charlton - Director



D Fernandez - Director


into the loft Limited (Registered number: 07586479)

Notes to the Financial Statements
for the Year Ended 31 July 2023


1. STATUTORY INFORMATION

into the loft Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 15% on reducing balance
Computer equipment - Straight line over 3 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

into the loft Limited (Registered number: 07586479)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 - 22,200 - 22,200
Additions 11,923 - 3,990 15,913
At 31 July 2023 11,923 22,200 3,990 38,113
DEPRECIATION
At 1 August 2022 - 3,330 - 3,330
Charge for year 1,938 2,831 376 5,145
At 31 July 2023 1,938 6,161 376 8,475
NET BOOK VALUE
At 31 July 2023 9,985 16,039 3,614 29,638
At 31 July 2022 - 18,870 - 18,870

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,374 2,922
Prepayments and accrued income 56,960 9,721
70,334 12,643

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 2,655 4,440
Trade creditors 12,388 6,123
Tax 16,030 4,264
Social security and other taxes (1,545 ) 984
VAT 25,685 32,284
Directors' current accounts 44,898 2,260
Accrued expenses 1,300 800
101,411 51,155

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 10,295 12,950

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 5,509 3,585

into the loft Limited (Registered number: 07586479)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 August 2022 3,585
Provided during year 1,924
Balance at 31 July 2023 5,509

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4 A £1 4 4

10. ULTIMATE CONTROLLING PARTY

The company is under control of the board of directors.