Company Registration No. 09621667 (England and Wales)
INTENSITY RETAIL LTD
Unaudited accounts
for the year ended 30 June 2023
INTENSITY RETAIL LTD
Unaudited accounts
Contents
INTENSITY RETAIL LTD
Company Information
for the year ended 30 June 2023
Directors
Praful Nanji Amipara
Harsh Praful Amipara
Company Number
09621667 (England and Wales)
Registered Office
387-389 HIGH STREET NORTH
LONDON
E12 6PG
ENGLAND
Accountants
Equifin Accountancy Ltd
87 Kingshill drive
Harrow
Middlesex
HA3 8QQ
INTENSITY RETAIL LTD
Statement of financial position
as at 30 June 2023
Intangible assets
125,953
143,947
Tangible assets
46,354
46,090
Inventories
155,560
221,500
Cash at bank and in hand
63,719
73,014
Creditors: amounts falling due within one year
(371,252)
(373,467)
Net current assets
77,285
136,561
Total assets less current liabilities
249,592
326,598
Creditors: amounts falling due after more than one year
(161,992)
(251,827)
Called up share capital
100
100
Profit and loss account
87,500
74,671
Shareholders' funds
87,600
74,771
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 directors acknowledge their 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 of Directors and authorised for issue on 28 August 2023 and were signed on its behalf by
Praful Nanji Amipara
Director
Company Registration No. 09621667
INTENSITY RETAIL LTD
Notes to the Accounts
for the year ended 30 June 2023
INTENSITY RETAIL LTD is a private company, limited by shares, registered in England and Wales, registration number 09621667. The registered office is 387-389 HIGH STREET NORTH, LONDON, E12 6PG, 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.
These financial statements for the year ended 30 June 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
20% on reducing balance
Motor vehicles
20% on reducing balance
Fixtures & fittings
20% on reducing balance
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
INTENSITY RETAIL LTD
Notes to the Accounts
for the year ended 30 June 2023
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortised over its estimated useful life of 15 years.
4
Intangible fixed assets
Goodwill
Charge for the year
17,994
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2022
5,310
84,879
23,832
114,021
Additions
11,610
-
-
11,610
At 30 June 2023
16,920
84,879
23,832
125,631
At 1 July 2022
1,781
48,368
17,782
67,931
Charge for the year
2,834
7,302
1,210
11,346
At 30 June 2023
4,615
55,670
18,992
79,277
At 30 June 2023
12,305
29,209
4,840
46,354
At 30 June 2022
3,529
36,511
6,050
46,090
Amounts falling due within one year
Trade debtors
2,806
20,962
Amounts due from group undertakings etc.
159,852
127,752
Other debtors
66,600
66,800
INTENSITY RETAIL LTD
Notes to the Accounts
for the year ended 30 June 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
76,368
-
Trade creditors
23,812
24,476
Taxes and social security
13,329
11,204
Other creditors
6,492
14,942
Loans from directors
244,402
320,081
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
101,992
251,827
Amounts owed to group undertakings and other participating interests
50,000
-
9
Average number of employees
During the year the average number of employees was 6 (2022: 6).