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Registered number: 06726954
Innroom Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
The Arkk Alliance Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06726954
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 42,825 26,292
42,825 26,292
CURRENT ASSETS
Stocks 5 16,725 15,000
Debtors 6 22,500 22,500
Cash at bank and in hand - 4,521
39,225 42,021
Creditors: Amounts Falling Due Within One Year 7 (130,255 ) (131,813 )
NET CURRENT ASSETS (LIABILITIES) (91,030 ) (89,792 )
TOTAL ASSETS LESS CURRENT LIABILITIES (48,205 ) (63,500 )
Creditors: Amounts Falling Due After More Than One Year 8 (31,461 ) (41,166 )
NET LIABILITIES (79,666 ) (104,666 )
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account (79,676 ) (104,676 )
SHAREHOLDERS' FUNDS (79,666) (104,666)
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Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Sunil Thapliyal
Director
23rd July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Innroom Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06726954 . The registered office is The Blue Boar Temple Grafton, Alcester, Stratford Upon Avon, Warwickshire, B49 6NR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line Method
Fixtures & Fittings 25% Straight Line Method
Computer Equipment 25% Straight Line Method
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2022: 16)
16 16
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2022 14,433 99,385 5,047 118,865
Additions - 31,399 1,041 32,440
As at 31 October 2023 14,433 130,784 6,088 151,305
Depreciation
As at 1 November 2022 13,014 76,257 3,302 92,573
Provided during the period 1,260 13,732 915 15,907
As at 31 October 2023 14,274 89,989 4,217 108,480
Net Book Value
As at 31 October 2023 159 40,795 1,871 42,825
As at 1 November 2022 1,419 23,128 1,745 26,292
5. Stocks
2023 2022
£ £
Finished goods 16,725 15,000
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 22,500 22,500
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 48,285 33,967
Bank loans and overdrafts 3,900 6,751
Other taxes and social security 12,911 13,707
VAT 19,284 11,604
Other creditors 1,961 2,190
Directors' loan accounts 43,914 63,594
130,255 131,813
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 31,461 41,166
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
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