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Registration number: 09547347

Inventory 4 Lets.com Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

Inventory 4 Lets.com Ltd

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 10

 

Inventory 4 Lets.com Ltd

Company Information

Directors

Mr Martin Margott

Lynette Haftel

Registered office

42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

Accountants

KCMJLLP
Suite 1B
18 Crendon Street
High Wycombe
Bucks
HP13 6LS

 

Inventory 4 Lets.com Ltd

Directors' Report for the Year Ended 30 April 2023

The directors present their report and the financial statements for the year ended 30 April 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Martin Margott

Lynette Haftel

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 29 January 2024 and signed on its behalf by:
 

.........................................
Mr Martin Margott
Director

 

Inventory 4 Lets.com Ltd

Profit and Loss Account for the Year Ended 30 April 2023

Note

2023
£

2022
£

Turnover

 

-

40,000

Gross profit

 

-

40,000

Administrative expenses

 

(500)

(39,077)

Operating (loss)/profit

 

(500)

923

(Loss)/profit before tax

(500)

923

(Loss)/profit for the financial year

 

(500)

923

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Inventory 4 Lets.com Ltd

Statement of Comprehensive Income for the Year Ended 30 April 2023

2023
£

2022
£

(Loss)/profit for the year

(500)

923

Total comprehensive income for the year

(500)

923

 

Inventory 4 Lets.com Ltd

(Registration number: 09547347)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

656

656

Creditors: Amounts falling due within one year

5

(28,320)

(27,820)

Total assets less current liabilities

 

(27,664)

(27,164)

Creditors: Amounts falling due after more than one year

5

(20,000)

(20,000)

Net liabilities

 

(47,664)

(47,164)

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

(47,666)

(47,166)

Shareholders' deficit

 

(47,664)

(47,164)

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

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Approved and authorised by the Board on 29 January 2024 and signed on its behalf by:
 

.........................................
Mr Martin Margott
Director

 

Inventory 4 Lets.com Ltd

Statement of Changes in Equity for the Year Ended 30 April 2023

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

2

(47,166)

(47,164)

Loss for the year

-

(500)

(500)

At 30 April 2023

2

(47,666)

(47,664)

Share capital
£

Retained earnings
£

Total
£

At 1 May 2021

2

(48,089)

(48,087)

Profit for the year

-

923

923

At 30 April 2022

2

(47,166)

(47,164)

 

Inventory 4 Lets.com Ltd

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

1

General information

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

The address of its registered office is:
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

These financial statements were authorised for issue by the Board on 29 January 2024.

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.

Tax

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.

 

Inventory 4 Lets.com Ltd

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

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% on NBV

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Inventory 4 Lets.com Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

2,745

2,745

At 30 April 2023

2,745

2,745

Depreciation

At 1 May 2022

2,089

2,089

At 30 April 2023

2,089

2,089

Carrying amount

At 30 April 2023

656

656

At 30 April 2022

656

656

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

6,500

6,000

Taxation and social security

32,752

32,752

Other creditors

(10,932)

(10,932)

28,320

27,820

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

20,000

20,000

6

Share capital

Allotted, called up and fully paid shares

 

Inventory 4 Lets.com Ltd

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

 

2023

2022

 

No.

£

No.

£

Ordinary Share of £100 each

2

200

2

200

         

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

20,000

20,000

8

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £Nil per each Ordinary Share

 

-

 

-