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REGISTERED NUMBER: 08279636 (England and Wales)


















Report of the Directors and

Financial Statements for the Year Ended 31 December 2023

for

Item Products Holdings Ltd

Item Products Holdings Ltd (Registered number: 08279636)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Directors 2

Abridged Balance Sheet 3

Notes to the Financial Statements 4


Item Products Holdings Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J A Cook
C S A Glover





REGISTERED OFFICE: Item House
Blackburn Road
Houghton Regis
Dunstable
Bedfordshire
LU5 5BQ





REGISTERED NUMBER: 08279636 (England and Wales)





AUDITORS: George Hay Partnership LLP
Chartered Accountants
and Statutory Auditor
Unit 1B
Focus 4
Fourth Avenue
Letchworth
Hertfordshire
SG6 2TU

Item Products Holdings Ltd (Registered number: 08279636)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
J A Cook and C S A Glover were appointed as directors after 31 December 2023 but prior to the date of this report.

D C Holt and J A Cook ceased to be directors after 31 December 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, George Hay Partnership LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J A Cook - Director


3 May 2024

Item Products Holdings Ltd (Registered number: 08279636)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 493,301
Investments 6 1,027,838 1,027,838
1,027,838 1,521,139

CURRENT ASSETS
Debtors 1,613 9,044
Cash at bank 532,601 93,624
534,214 102,668
CREDITORS
Amounts falling due within one year 663,210 332,687
NET CURRENT LIABILITIES (128,996 ) (230,019 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

898,842

1,291,120

CREDITORS
Amounts falling due after more than one
year

7

-

320,998
NET ASSETS 898,842 970,122

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 898,840 970,120
SHAREHOLDERS' FUNDS 898,842 970,122

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 Balance Sheet for the year ended 31 December 2023 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 3 May 2024 and were signed on its behalf by:





C S A Glover - Director


Item Products Holdings Ltd (Registered number: 08279636)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Item Products Holdings Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Item Products Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Long leasehold property is not being depreciated as it is the directors' opinion that the useful economic life and residual value would mean this charge is immaterial.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Item Products Holdings Ltd (Registered number: 08279636)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 493,301
Additions 3,248
Disposals (496,549 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 493,301

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2023
and 31 December 2023 1,027,838
NET BOOK VALUE
At 31 December 2023 1,027,838
At 31 December 2022 1,027,838

The company acquired 100% of the issued share capital of Item Products Limited on 30th September 2013.

Item Products Holdings Ltd (Registered number: 08279636)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans more than 5 years
by instalments - 155,997
- 155,997

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 242,665

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1.00 2 2

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

R C Dilley FCA FCCA (Senior Statutory Auditor)
for and on behalf of George Hay Partnership LLP

11. POST BALANCE SHEET EVENTS

Since the balance sheet date, the company was sold to Ciaran Glover and Jack Cook and effectively became directors at the date of the sale. The current directors David Holt and Julian Cook resigned as directors on the same date.