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REGISTERED NUMBER: 03038017 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

INTERLOCK FLEXIBLE PRODUCTS LIMITED

INTERLOCK FLEXIBLE PRODUCTS LIMITED (REGISTERED NUMBER: 03038017)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


INTERLOCK FLEXIBLE PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr P J Williams Snr
Mr P J Williams Jnr
Mrs S Winrow



SECRETARY: Mrs S Winrow



REGISTERED OFFICE: Unit 1 Burbidge Road
Bordesley Green
BIRMINGHAM
B9 4US



REGISTERED NUMBER: 03038017 (England and Wales)



ACCOUNTANTS: Michael Heaven & Associates Limited
Chartered Certified Accountants
47 Calthorpe Road
Edgbaston
BIRMINGHAM
B15 1TH



BANKERS: Lloyds Bank PLC
Units 2 & 3 Caxton Gate
36/38 New Street
Birmingham
West Midlands
B2 4LP



INCORPORATED: 27th March 1995

INTERLOCK FLEXIBLE PRODUCTS LIMITED (REGISTERED NUMBER: 03038017)

ABRIDGED BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,889 6,664

CURRENT ASSETS
Stocks 600 600
Debtors 149,060 169,542
149,660 170,142
CREDITORS
Amounts falling due within one year 72,831 56,640
NET CURRENT ASSETS 76,829 113,502
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,718

120,166

CREDITORS
Amounts falling due after more than one
year

(7,000

)

(13,000

)

PROVISIONS FOR LIABILITIES 6 (1,814 ) (1,266 )
NET ASSETS 72,904 105,900

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 72,804 105,800
SHAREHOLDERS' FUNDS 72,904 105,900

INTERLOCK FLEXIBLE PRODUCTS LIMITED (REGISTERED NUMBER: 03038017)

ABRIDGED BALANCE SHEET - continued
31ST MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th August 2024 and were signed on its behalf by:





Mr P J Williams Snr - Director


INTERLOCK FLEXIBLE PRODUCTS LIMITED (REGISTERED NUMBER: 03038017)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Interlock Flexible Products Limited is a private company, limited by shares , registered in England and Wales. 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 represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation has been provided for utilising either the reducing balance or straight line method based on the estimated useful lives of the individual class of asset.

Rates used as follows:-
Plant and machinery- 20% reducing balance
Motor vehicles- 20% reducing balance
Fixtures and fittings- 20% reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans from related parties.


INTERLOCK FLEXIBLE PRODUCTS LIMITED (REGISTERED NUMBER: 03038017)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

INTERLOCK FLEXIBLE PRODUCTS LIMITED (REGISTERED NUMBER: 03038017)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023 97,908
Disposals (74,917 )
At 31st March 2024 22,991
DEPRECIATION
At 1st April 2023 91,244
Charge for year 1,222
Eliminated on disposal (74,364 )
At 31st March 2024 18,102
NET BOOK VALUE
At 31st March 2024 4,889
At 31st March 2023 6,664

5. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,000 6,000

Amounts falling due between one and two years:
Bank loans 6,000 6,000

Amounts falling due between two and five years:
Bank loans 1,000 7,000

6. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,814 1,266

INTERLOCK FLEXIBLE PRODUCTS LIMITED (REGISTERED NUMBER: 03038017)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


6. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st April 2023 1,266
Provided during the year 548
Balance at 31st March 2024 1,814

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
60 Ordinary "A" £1 60 60
20 Ordinary "B" £1 20 20
20 Ordinary ''C'' £1 20 20
100 100

8. SECURITIES AND CHARGES

A fixed and floating charge limited to £60,000 exists over all assets of the company in respect of any shortfall on the overdraft facility and secured on the freehold property held by its related company, C.C.C.P Limited.

9. RELATED PARTY DISCLOSURES

At the year end there was a balance of £140,119 due from a related company in which all directors are also a director. This loan is interest free and repayable upon demand.

At the year end the amounts due to the directors totalled £51,388 (2023 - £37,001). These loans are interest free and repayable on demand.