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COMPANY REGISTRATION NUMBER: 01617912
I & P Lifting Gear (Hire) Limited
Filleted Unaudited Financial Statements
30 June 2023
I & P Lifting Gear (Hire) Limited
Financial Statements
Year ended 30 June 2023
Contents
Pages
Balance sheet
1
Notes to the financial statements
2 to 3
I & P Lifting Gear (Hire) Limited
Balance Sheet
30 June 2023
2023
2022
Note
£
£
Fixed assets
Investments
4
10,000
10,000
Current assets
Debtors
5
6,541
27,541
Creditors: amounts falling due within one year
6
691
21,691
-------
--------
Net current assets
5,850
5,850
--------
--------
Total assets less current liabilities
15,850
15,850
--------
--------
Capital and reserves
Called up share capital
2,550
2,550
Capital redemption reserve
7,550
7,550
Profit and loss account
5,750
5,750
--------
--------
Shareholders funds
15,850
15,850
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 6 February 2024 , and are signed on behalf of the board by:
Mr G P Dean
Director
I & P Lifting Gear (Hire) Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales, registration number 01617912 . The address of the registered office is 237 Scotia Road, Tunstall, Stoke on Trent, ST6 4PS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal values. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Creditors Creditors are not interest bearing and are stated at their nominal value.
4. Investments
Shares in group undertakings
£
Cost
At 1 July 2022 and 30 June 2023
10,000
--------
Impairment
At 1 July 2022 and 30 June 2023
--------
Carrying amount
At 30 June 2023
10,000
--------
At 30 June 2022
10,000
--------
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
6,541
27,541
-------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
691
21,691
----
--------
7. Employee numbers
The average number of persons employed by the company during the year amounted to nil (2022: nil).