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COMPANY REGISTRATION NUMBER: 11545851
Influx (Yorkshire) Limited
Filleted Unaudited Financial Statements
For the period ended
31 August 2023
Influx (Yorkshire) Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
9,802
16,159
Current assets
Debtors
6
29,953
95,204
Cash at bank and in hand
38,893
5,626
--------
----------
68,846
100,830
Creditors: amounts falling due within one year
7
40,356
42,989
--------
----------
Net current assets
28,490
57,841
--------
--------
Total assets less current liabilities
38,292
74,000
Creditors: amounts falling due after more than one year
8
15,467
30,000
--------
--------
Net assets
22,825
44,000
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
22,725
43,900
--------
--------
Shareholders funds
22,825
44,000
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Influx (Yorkshire) Limited
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
Mr D T Brown
Director
Company registration number: 11545851
Influx (Yorkshire) Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Springfield Drive, Lofthouse, Wakefield, WF3 3FW.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
(d) Current tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Equipment
-
33% straight line
(g) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(h) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 September 2022
3,456
27,171
30,627
Additions
823
823
-------
--------
----
--------
At 31 August 2023
3,456
27,171
823
31,450
-------
--------
----
--------
Depreciation
At 1 September 2022
882
13,586
14,468
Charge for the year
303
6,793
84
7,180
-------
--------
----
--------
At 31 August 2023
1,185
20,379
84
21,648
-------
--------
----
--------
Carrying amount
At 31 August 2023
2,271
6,792
739
9,802
-------
--------
----
--------
At 31 August 2022
2,574
13,585
16,159
-------
--------
----
--------
6. Debtors
2023
2022
£
£
Trade debtors
23,941
48,776
Other debtors
6,012
46,428
--------
--------
29,953
95,204
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
6,000
Trade creditors
5,244
19,763
Corporation tax
25,721
18,504
Other creditors
3,391
4,722
--------
--------
40,356
42,989
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
10,500
22,500
Other creditors
4,967
7,500
--------
--------
15,467
30,000
--------
--------
9. Related party transactions
During the year the director made available loans to the company. At 31 August 2023 the balance outstanding was £ 9 (2022: £1,699). No interest is charged on this loan and the balance is repayable on demand.