Company Registration No. 05716815 (England and Wales)
Into The Blue (SW) Limited
Unaudited accounts
for the year ended 30 November 2023
Into The Blue (SW) Limited
Unaudited accounts
Contents
Into The Blue (SW) Limited
Company Information
for the year ended 30 November 2023
Company Number
05716815 (England and Wales)
Registered Office
Unit 25
Riverbank Court
North Devon Business Park, Chivenor
Barnstaple
Devon
EX31 4FY
England
Accountants
Westerly Accountancy Ltd
24 Orchard Road
Wrafton
Braunton
EX33 2DZ
Into The Blue (SW) Limited
Statement of financial position
as at 30 November 2023
Tangible assets
129,544
96,217
Cash at bank and in hand
20,990
32,073
Creditors: amounts falling due within one year
(465,253)
(370,036)
Net current assets
144,496
137,618
Net assets
274,040
233,835
Called up share capital
100
100
Profit and loss account
273,940
233,735
Shareholders' funds
274,040
233,835
For the year ending 30 November 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 director acknowledges his 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 and authorised for issue on 6 August 2024 and were signed on its behalf by
Nigel Knight
Director
Company Registration No. 05716815
Into The Blue (SW) Limited
Notes to the Accounts
for the year ended 30 November 2023
Into The Blue (SW) Limited is a private company, limited by shares, registered in England and Wales, registration number 05716815. The registered office is Unit 25, Riverbank Court, North Devon Business Park, Chivenor, Barnstaple, Devon, EX31 4FY, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
15% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
20% reducing balance
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.
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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Into The Blue (SW) Limited
Notes to the Accounts
for the year ended 30 November 2023
4
Intangible fixed assets
Goodwill
At 30 November 2023
32,500
At 30 November 2023
32,500
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 December 2022
108,935
150,510
-
11,897
271,342
Additions
38,950
24,035
498
874
64,357
At 30 November 2023
147,885
174,545
498
12,771
335,699
At 1 December 2022
60,022
106,583
-
8,520
175,125
Charge for the year
13,180
16,908
24
918
31,030
At 30 November 2023
73,202
123,491
24
9,438
206,155
At 30 November 2023
74,683
51,054
474
3,333
129,544
At 30 November 2022
48,913
43,927
-
3,377
96,217
Amounts falling due within one year
Trade debtors
227,514
234,245
Accrued income and prepayments
25,590
27,681
Other debtors
330,655
208,655
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
69,526
64,699
Taxes and social security
23,511
31,564
Other creditors
45,020
37,046
Loans from directors
226,036
179,602
Into The Blue (SW) Limited
Notes to the Accounts
for the year ended 30 November 2023
8
Transactions with related parties
Included within debtors are loans to related parties of £330,655 (2022: £208,655). The directors and shareholders of the Company are participators in the recipients.
Included within creditors are loans from a related party of £40,000 (2022: £30,000). A shareholder of the Company is a participator in the lending company.
9
Average number of employees
During the year the average number of employees was 9 (2022: 8).