Registered number
09477800
Industree Limited
Filleted Accounts
30 April 2023
Industree Limited
Registered number: 09477800
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,365 12,328
Current assets
Stocks 41,077 22,375
Debtors 4 32,372 12,225
Investments held as current assets 5 - 137,937
Cash at bank and in hand 70,611 180,648
144,060 353,185
Creditors: amounts falling due within one year 6 (32,096) (34,596)
Net current assets 111,964 318,589
Total assets less current liabilities 122,329 330,917
Creditors: amounts falling due after more than one year 7 (22,388) (32,181)
Net assets 99,941 298,736
Capital and reserves
Called up share capital 4 4
Profit and loss account 99,937 298,732
Shareholders' funds 99,941 298,736
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Finn
Director
Approved by the board on 27 August 2024
Industree Limited
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2022 2,827 22,584 25,411
Additions - 1,766 1,766
At 30 April 2023 2,827 24,350 27,177
Depreciation
At 1 May 2022 283 12,800 13,083
Charge for the year 56 3,673 3,729
At 30 April 2023 339 16,473 16,812
Net book value
At 30 April 2023 2,488 7,877 10,365
At 30 April 2022 2,544 9,784 12,328
4 Debtors 2023 2022
£ £
Trade debtors 29,765 9,988
Other debtors 2,607 2,237
32,372 12,225
5 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments - 137,937
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 10,603 5,881
Taxation and social security costs 5,285 17,814
Other creditors 6,208 901
32,096 34,596
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,388 32,181
8 Controlling party
The company is controlled by D Finn.
9 Other information
Industree Limited is a private company limited by shares and incorporated in England. Its registered office is:
c/o Philip Bowdidge Accountancy
34 Ringwood Road
Walkford
Christchurch
BH23 5RD
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