IRIS Accounts Production v23.3.0.418 05997821 Board of Directors Board of Directors 1.5.22 30.4.23 30.4.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh059978212022-04-30059978212023-04-30059978212022-05-012023-04-30059978212021-04-30059978212021-05-012022-04-30059978212022-04-3005997821ns14:PoundSterlingns10:Original2022-05-012023-04-3005997821ns10:Originalns10:Director12022-05-012023-04-3005997821ns10:Original2022-05-012023-04-3005997821ns10:Originalns10:Director22022-05-012023-04-3005997821ns10:Original2023-04-3005997821ns10:Originalns10:PrivateLimitedCompanyLtd2022-05-012023-04-3005997821ns10:Originalns10:SmallEntities2022-05-012023-04-3005997821ns10:Originalns10:AuditExemptWithAccountantsReport2022-05-012023-04-3005997821ns10:SmallCompaniesRegimeForAccountsns10:Original2022-05-012023-04-3005997821ns10:Originalns10:FullAccounts2022-05-012023-04-3005997821ns10:Originalns10:OrdinaryShareClass12022-05-012023-04-3005997821ns10:CompanySecretary1ns10:Original2022-05-012023-04-3005997821ns10:Originalns10:RegisteredOffice2022-05-012023-04-3005997821ns10:Original2022-04-3005997821ns10:Originalns5:CurrentFinancialInstruments2023-04-3005997821ns10:Originalns5:CurrentFinancialInstruments2022-04-3005997821ns5:ShareCapitalns10:Original2023-04-3005997821ns5:ShareCapitalns10:Original2022-04-3005997821ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-04-3005997821ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-3005997821ns10:Originalns5:PlantMachinery2022-05-012023-04-3005997821ns10:Originalns5:ComputerEquipment2022-05-012023-04-3005997821ns10:Original2021-05-012022-04-3005997821ns10:Originalns5:PlantMachinery2022-04-3005997821ns10:Originalns5:ComputerEquipment2022-04-3005997821ns10:Original2022-04-3005997821ns10:Originalns5:PlantMachinery2023-04-3005997821ns10:Originalns5:ComputerEquipment2023-04-3005997821ns10:Originalns5:PlantMachinery2022-04-3005997821ns10:Originalns5:ComputerEquipment2022-04-3005997821ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3005997821ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-04-3005997821ns10:Originalns5:DeferredTaxation2022-04-3005997821ns10:Originalns5:DeferredTaxation2022-05-012023-04-3005997821ns10:Originalns5:DeferredTaxation2023-04-3005997821ns10:Originalns10:OrdinaryShareClass12023-04-3005997821ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-3005997821ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-012023-04-30
REGISTERED NUMBER: 05997821















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

INNERDRIVE LIMITED

INNERDRIVE LIMITED (Registered number: 05997821)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 6

INNERDRIVE LIMITED

COMPANY INFORMATION
for the Year Ended 30 APRIL 2023







DIRECTORS: E T Watson
B K Busch





SECRETARY: E T Watson





REGISTERED OFFICE: 259 Croydon Road
Beckenham
Kent
BR3 3PS





REGISTERED NUMBER: 05997821





ACCOUNTANTS: HARLEYS
259 Croydon Road
Beckenham
Kent
BR3 3PS

INNERDRIVE LIMITED (Registered number: 05997821)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,900 13,200

CURRENT ASSETS
Debtors 5 48,510 54,379
Cash at bank and in hand 83,065 111,493
131,575 165,872
CREDITORS
Amounts falling due within one year 6 102,866 123,781
NET CURRENT ASSETS 28,709 42,091
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,609

55,291

PROVISIONS FOR LIABILITIES 7 4,000 2,600
NET ASSETS 45,609 52,691

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 45,509 52,591
SHAREHOLDERS' FUNDS 45,609 52,691

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 19 October 2023 and were signed on its behalf by:




E T Watson - Director



B K Busch - Director


INNERDRIVE LIMITED (Registered number: 05997821)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2023

1. STATUTORY INFORMATION

INNERDRIVE LIMITED is a private company, limited by shares , registered in Not specified/Other. 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.
Plant and machinery - 20% on reducing balance
Office equipment - 20% on reducing balance

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.

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 11 (2022 - 8 ) .

INNERDRIVE LIMITED (Registered number: 05997821)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2023

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 May 2022 6,004 20,495 26,499
Additions 1,046 11,835 12,881
At 30 April 2023 7,050 32,330 39,380
DEPRECIATION
At 1 May 2022 1,204 12,095 13,299
Charge for year 1,146 4,035 5,181
At 30 April 2023 2,350 16,130 18,480
NET BOOK VALUE
At 30 April 2023 4,700 16,200 20,900
At 30 April 2022 4,800 8,400 13,200

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 42,274 48,129
Prepayments 6,236 6,250
48,510 54,379

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 10,560 1,230
Tax 18,700 21,225
Social security and other taxes 5,715 564
VAT 18,576 22,596
Directors' current accounts 47,200 76,151
Accrued expenses 2,115 2,015
102,866 123,781

7. PROVISIONS FOR LIABILITIES
30.4.23 30.4.22
£    £   
Deferred tax 4,000 2,600

Deferred
tax
£   
Balance at 1 May 2022 2,600
Provided during year 1,400
Balance at 30 April 2023 4,000

INNERDRIVE LIMITED (Registered number: 05997821)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 May 2022 52,591
Profit for the year 81,418
Dividends (88,500 )
At 30 April 2023 45,509

INNERDRIVE LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
INNERDRIVE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






HARLEYS
259 Croydon Road
Beckenham
Kent
BR3 3PS


20 October 2023