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Company Registration No. 07803327 (England and Wales)
Integration Made Simple Ltd Unaudited accounts for the year ended 31 October 2023
Integration Made Simple Ltd Unaudited accounts Contents
Page
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Integration Made Simple Ltd Company Information for the year ended 31 October 2023
Directors
D J Russell G R R Russell
Secretary
G R R Russell
Company Number
07803327 (England and Wales)
Registered Office
20 MONCKTON ROAD BOROUGH GREEN SEVENOAKS KENT TN15 8SD United Kingdom
Accountants
Meredith GB Consultants Ltd 49 Westerham Road Bessels Green Sevenoaks Kent TN13 2QB
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Integration Made Simple Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,112 
22,332 
Current assets
Inventories
54,711 
73,879 
Debtors
16,976 
36,038 
Cash at bank and in hand
12,023 
67,076 
83,710 
176,993 
Creditors: amounts falling due within one year
(121,236)
(152,030)
Net current (liabilities)/assets
(37,526)
24,963 
Total assets less current liabilities
(16,414)
47,295 
Creditors: amounts falling due after more than one year
(39,316)
(45,738)
Net (liabilities)/assets
(55,730)
1,557 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(55,732)
1,555 
Shareholders' funds
(55,730)
1,557 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2024 and were signed on its behalf by
D J Russell Director Company Registration No. 07803327
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Integration Made Simple Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Integration Made Simple Ltd is a private company, limited by shares, registered in England and Wales, registration number 07803327. The registered office is 20 MONCKTON ROAD, BOROUGH GREEN, SEVENOAKS, KENT, TN15 8SD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees operated under the Government's NEST scheme. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33%pa Straight line basis
Motor vehicles
25%pa Straight line basis
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Integration Made Simple Ltd Notes to the Accounts for the year ended 31 October 2023
Going concern
The director has confirmed that he will continue to give financial support to the company until such time as its position improves. The Company had been adversely affected by Government policy regarding industrial closures during the Coronavirus pandemic crisis. The director has confirmed that he will not recall his loan within 12 months. The director considers that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if any financial support were withdrawn.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
24,528 
27,013 
51,541 
Additions
- 
26,392 
26,392 
Disposals
- 
(25,618)
(25,618)
At 31 October 2023
24,528 
27,787 
52,315 
Depreciation
At 1 November 2022
21,649 
7,560 
29,209 
Charge for the year
1,787 
6,612 
8,399 
On disposals
- 
(6,405)
(6,405)
At 31 October 2023
23,436 
7,767 
31,203 
Net book value
At 31 October 2023
1,092 
20,020 
21,112 
At 31 October 2022
2,879 
19,453 
22,332 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
9,085 
8,965 
Trade debtors
7,741 
26,358 
Accrued income and prepayments
- 
565 
Other debtors
150 
150 
16,976 
36,038 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,641 
5,000 
Obligations under finance leases and hire purchase contracts
16,711 
- 
Taxes and social security
3,365 
1,091 
Proposed dividends
- 
12,000 
Other creditors
891 
36,591 
Loans from directors
91,813 
90,252 
Accruals
2,815 
2,767 
Deferred income
- 
4,329 
121,236 
152,030 
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Integration Made Simple Ltd Notes to the Accounts for the year ended 31 October 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
31,495 
37,917 
Other creditors
7,821 
7,821 
39,316 
45,738 
Aggregate of amounts that fall due for payment after five years
16,753 
25,738 
Long term credits are comprised of two loans: From I Russell £7821 which is interest free and has no fixed date for repayment, and Barclays Coronavirus Loan of £50000 taken out in May 2020; where the loan is over 10 years with no repayments payable in the first year and interest is at a fixed rate of 2.5%. The loan is underwritten by the Government. Total falling due after 5 years is £18932.
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Pension commitments
National Employment Savings Trust ('NEST') The Company has an auto-enrolment pension scheme which is administered by NEST. The National Employment Savings Trust ('NEST') is a statutory, contributory, defined contribution scheme, governed by the National Employment Savings Trust Order 2010 and operated by a non-departmental public body as Trustee, the NEST Corporation Membership is available under the auto-enrolment scheme where contributions are made by employees and the Company, although employees are able to opt out. In the year the Company contributed £170 (2022: £240) on behalf of 1 (2022: 2) employees.
10
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 October 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
2,018 
3,484 
Later than one year and not later than five years
6,053 
9,584 
8,071 
13,068 
11
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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