Integrated Ironmongery Solutions Limited 14163571 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the sale of door furniture & ironmongery. Digita Accounts Production Advanced 6.30.9574.0 true true true 14163571 2023-04-01 2024-03-31 14163571 2024-03-31 14163571 core:RetainedEarningsAccumulatedLosses 2024-03-31 14163571 core:ShareCapital 2024-03-31 14163571 core:CurrentFinancialInstruments 2024-03-31 14163571 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14163571 bus:SmallEntities 2023-04-01 2024-03-31 14163571 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14163571 bus:FullAccounts 2023-04-01 2024-03-31 14163571 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14163571 bus:RegisteredOffice 2023-04-01 2024-03-31 14163571 bus:Director2 2023-04-01 2024-03-31 14163571 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14163571 1 2023-04-01 2024-03-31 14163571 countries:AllCountries 2023-04-01 2024-03-31 14163571 2022-06-10 2023-03-31 14163571 2023-03-31 14163571 core:RetainedEarningsAccumulatedLosses 2023-03-31 14163571 core:ShareCapital 2023-03-31 14163571 core:CurrentFinancialInstruments 2023-03-31 14163571 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 14163571

Integrated Ironmongery Solutions Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 31 March 2024

 

Integrated Ironmongery Solutions Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Integrated Ironmongery Solutions Limited

(Registration number: 14163571)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

           

Current assets

   

 

Stocks

 

9,436

 

6,946

Debtors

4

 

82,238

 

42,386

Cash at bank and in hand

   

443

 

2,392

   

92,117

 

51,724

Creditors: Amounts falling due within one year

5

 

(67,467)

 

(45,095)

Net assets

   

24,650

 

6,629

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

24,550

 

6,529

 

Total equity

   

24,650

 

6,629

For the financial year ending 31 March 2024 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 July 2024 and signed on its behalf by:
 

.........................................
Mr A.N. Crawshaw
Director

 

Integrated Ironmongery Solutions Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Unit B
Eurolink Industrial Estate
Mildred Sylvester Way
Normanton
West Yorkshire
WF6 1TA
United Kingdom

These financial statements were authorised for issue by the Board on 22 July 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.

The financial statements are presented in Sterling (£).

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 value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Integrated Ironmongery Solutions Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Debtors

Debtors: amounts falling due within one year

2024
£

2023
£

Trade debtors

82,138

42,286

Other debtors

100

100

 

82,238

42,386

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

49,205

35,839

Amounts owed to group undertakings

13,151

-

Taxation and social security

4,011

7,656

Other creditors

1,100

1,600

67,467

45,095

 

Integrated Ironmongery Solutions Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2024

6

Parent and ultimate parent undertaking

The company's immediate parent is DCB Holdings Limited, incorporated in England & Wales.