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Registration number: 03000521

Interface Force Measurements Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Interface Force Measurements Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Interface Force Measurements Limited

Company Information

Director

Mr R Beyl

Registered office

Unit 19
Wellington Business Park
Dukes Ride
Crowthorne
RG45 6LS

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Interface Force Measurements Limited

(Registration number: 03000521)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

11,048

9,000

Current assets

 

Stocks

5

111,569

150,924

Debtors

6

685,604

652,010

Cash at bank and in hand

 

168,668

183,237

 

965,841

986,171

Creditors: Amounts falling due within one year

7

(311,948)

(291,378)

Net current assets

 

653,893

694,793

Total assets less current liabilities

 

664,941

703,793

Creditors: Amounts falling due after more than one year

7

(90,000)

(130,000)

Net assets

 

574,941

573,793

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

574,841

573,693

Shareholders' funds

 

574,941

573,793

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Interface Force Measurements Limited

(Registration number: 03000521)
Balance Sheet as at 30 September 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 April 2024
 


Mr R Beyl
Director

 

Interface Force Measurements Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 19
Wellington Business Park
Dukes Ride
Crowthorne
RG45 6LS

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Interface Force Measurements Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Motor vehicles

20% reducing balance

Fixtures and fittings

20% reducing balance

Computer equipment

20% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Interface Force Measurements Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 5).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

21,245

50,221

71,466

Additions

-

4,052

4,052

At 30 September 2023

21,245

54,273

75,518

Depreciation

At 1 October 2022

21,245

41,221

62,466

Charge for the year

-

2,004

2,004

At 30 September 2023

21,245

43,225

64,470

Carrying amount

At 30 September 2023

-

11,048

11,048

At 30 September 2022

-

9,000

9,000

 

Interface Force Measurements Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Stocks

2023
£

2022
£

Stocks

111,569

150,924

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

111,476

128,016

Amounts owed by related parties

10

559,607

511,607

Prepayments

 

14,521

8,094

Other debtors

 

-

4,293

   

685,604

652,010

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

40,000

40,000

Trade creditors

 

153,451

174,395

Taxation and social security

 

72,356

15,017

Accruals and deferred income

 

3,313

22,953

Other creditors

 

42,828

39,013

 

311,948

291,378

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

90,000

130,000

 

Interface Force Measurements Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

90,000

130,000

2023
£

2022
£

Current loans and borrowings

Bank borrowings

40,000

40,000

10

Related party transactions

There is a fixed and floating charge in place over the assets of the company in respect of a debenture in the parent company, Beyl Holdings Limited.

At 30 September 2023 the amounts owed to the director of the company totalled £4,746 which is included in Other creditors (2022 - £1,064 debtor). This balance is unsecured, interest free and has no fixed terms of repayment.

11

Parent and ultimate parent undertaking

The company's immediate parent is Beyl Holdings Limited, incorporated in England & Wales.