Indrisec Ltd
Registered number: 10926873
Statement of Financial Position
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 1,309 775
Current assets
Debtors 5 17,266 11,841
Cash at bank and in hand 535 2,522
17,801 14,363
Creditors: amounts falling due within one year 6 (66,363) (36,804)
Net current liabilities (48,562) (22,441)
Total assets less current liabilities (47,253) (21,666)
Creditors: amounts falling due after more than one year 7 (18,333) (21,979)
Net liabilities (65,586) (43,645)
Capital and reserves
Called up share capital 100 100
Profit and loss account (65,686) (43,745)
Shareholders' funds (65,586) (43,645)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Michael Perridge
Director
Approved by the board on 19 April 2024
Indrisec Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of loans.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 2 1
3 Government grants
The company has received government grants under the coronavirus job retention scheme. These grants are shown in the profit and loss for the period in which the related salary expenditure was incurred.

The company also received a business interruption payment relating to interest payable on a bounce back loan taken out in the period. The grant is shown in the the profit and loss in the period in which the related interest was incurred.

The company also received a local authority small business grant the income is shown in the profit and loss in the period in which the funds were received.
2023 2022
£ £
Grants received under the covid job retention scheme - 5,309
Business interruption payments - 104
Small business grant - 2,572
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 2,309
Additions 1,147
Disposals (417)
At 31 March 2023 3,039
Depreciation
At 1 April 2022 1,534
Charge for the year 437
On disposals (241)
At 31 March 2023 1,730
Net book value
At 31 March 2023 1,309
At 31 March 2022 775
5 Debtors 2023 2022
£ £
Trade debtors 3,567 4,335
Other debtors 13,699 7,506
17,266 11,841
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 15,717 8,750
Trade creditors 8 1,200
Accruals 2,445 1,040
Corporation tax 1,747 3,039
Other taxes and social security costs 43,298 17,665
Other creditors 3,148 5,110
66,363 36,804
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,333 21,979
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Michael Perridge
Repayable on demand 3,953 4,809 - 8,762
3,953 4,809 - 8,762
9 Other information
Indrisec Ltd is a private company limited by shares and incorporated in England. Its registered office is:
3 - 5 Alexandra Road
Farnborough
Hampshire
GU14 6BU
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