IRIS Accounts Production v23.3.1.45 06791093 Board of Directors 1.7.22 30.6.23 30.6.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure067910932022-06-30067910932023-06-30067910932022-07-012023-06-30067910932021-06-30067910932021-07-012022-06-30067910932022-06-3006791093ns16:EnglandWales2022-07-012023-06-3006791093ns15:PoundSterling2022-07-012023-06-3006791093ns11:Director12022-07-012023-06-3006791093ns11:PrivateLimitedCompanyLtd2022-07-012023-06-3006791093ns11:SmallEntities2022-07-012023-06-3006791093ns11:AuditExempt-NoAccountantsReport2022-07-012023-06-3006791093ns11:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3006791093ns11:SmallCompaniesRegimeForAccounts2022-07-012023-06-3006791093ns11:FullAccounts2022-07-012023-06-3006791093ns11:Director22022-07-012023-06-3006791093ns11:Director32022-07-012023-06-3006791093ns11:CompanySecretary12022-07-012023-06-3006791093ns11:RegisteredOffice2022-07-012023-06-3006791093ns6:CurrentFinancialInstruments2023-06-3006791093ns6:CurrentFinancialInstruments2022-06-3006791093ns6:ShareCapital2023-06-3006791093ns6:ShareCapital2022-06-3006791093ns6:RetainedEarningsAccumulatedLosses2023-06-3006791093ns6:RetainedEarningsAccumulatedLosses2022-06-3006791093ns6:LandBuildings2022-07-012023-06-3006791093ns6:PlantMachinery2022-07-012023-06-3006791093ns6:LandBuildings2022-06-3006791093ns6:PlantMachinery2022-06-3006791093ns6:LandBuildings2023-06-3006791093ns6:PlantMachinery2023-06-3006791093ns6:LandBuildings2022-06-3006791093ns6:PlantMachinery2022-06-3006791093ns6:WithinOneYearns6:CurrentFinancialInstruments2023-06-3006791093ns6:WithinOneYearns6:CurrentFinancialInstruments2022-06-3006791093ns6:WithinOneYear2023-06-3006791093ns6:WithinOneYear2022-06-3006791093ns6:BetweenOneFiveYears2023-06-3006791093ns6:BetweenOneFiveYears2022-06-3006791093ns6:AllPeriods2023-06-3006791093ns6:AllPeriods2022-06-30
REGISTERED NUMBER: 06791093 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

ITS Interiors Ltd

ITS Interiors Ltd (Registered number: 06791093)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ITS Interiors Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: M Quirke
N J F Forster
C Howe





SECRETARY: M Quirke





REGISTERED OFFICE: ITS House
South Portway Close
Round Spinney Industrial Estate
Northampton
Northamptonshire
NN3 8RH





REGISTERED NUMBER: 06791093 (England and Wales)





ACCOUNTANTS: Bostockwhite Limited
Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ

ITS Interiors Ltd (Registered number: 06791093)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 250,595 200,822

CURRENT ASSETS
Stocks 20,425 49,670
Debtors 5 5,562,840 1,964,043
Cash at bank 3,264,505 2,680,142
8,847,770 4,693,855
CREDITORS
Amounts falling due within one year 6 4,544,009 1,953,036
NET CURRENT ASSETS 4,303,761 2,740,819
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,554,356

2,941,641

PROVISIONS FOR LIABILITIES 53,474 41,323
NET ASSETS 4,500,882 2,900,318

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,500,782 2,900,218
SHAREHOLDERS' FUNDS 4,500,882 2,900,318

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.

ITS Interiors Ltd (Registered number: 06791093)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by:





M Quirke - Director


ITS Interiors Ltd (Registered number: 06791093)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

ITS Interiors 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.

When the outcome of a contract can be estimated reliably, the Company recognises revenue associated with the contract by reference to the stage of completion of the contract at the end of the reporting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 5% on cost and 2% on cost
Plant and machinery etc - 50% on cost and 25% on cost

Tangible fixed assets are initially recognised at cost which is the purchase price plus any directly attributable costs. Subsequently, tangible fixed assets are measured at cost less accumulated depreciation and impairment losses.

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.

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.

ITS Interiors Ltd (Registered number: 06791093)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

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 42 (2022 - 43 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2022 226,423 357,790 584,213
Additions - 95,729 95,729
Disposals - (10,121 ) (10,121 )
At 30 June 2023 226,423 443,398 669,821
DEPRECIATION
At 1 July 2022 65,057 318,334 383,391
Charge for year 10,169 35,787 45,956
Eliminated on disposal - (10,121 ) (10,121 )
At 30 June 2023 75,226 344,000 419,226
NET BOOK VALUE
At 30 June 2023 151,197 99,398 250,595
At 30 June 2022 161,366 39,456 200,822

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 4,288,894 1,382,789
Other debtors 1,273,946 581,254
5,562,840 1,964,043

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 1,223,210 462,810
Taxation and social security 951,513 361,519
Other creditors 2,369,286 1,128,707
4,544,009 1,953,036

ITS Interiors Ltd (Registered number: 06791093)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 30.6.22
£    £   
Within one year 16,932 4,574
Between one and five years 47,968 21,604
64,900 26,178