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COMPANY REGISTRATION NUMBER: 10222744
Interlex International Limited
Filleted Unaudited Financial Statements
31 December 2023
Interlex International Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
35,325
57,088
Current assets
Debtors
6
615,711
1,104,503
Cash at bank and in hand
774,401
440,832
------------
------------
1,390,112
1,545,335
Creditors: amounts falling due within one year
7
970,489
895,836
------------
------------
Net current assets
419,623
649,499
---------
---------
Total assets less current liabilities
454,948
706,587
Creditors: amounts falling due after more than one year
8
49,460
61,286
---------
---------
Net assets
405,488
645,301
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
405,388
645,201
---------
---------
Shareholders funds
405,488
645,301
---------
---------
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 December 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Interlex International Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 26 September 2024 , and are signed on behalf of the board by:
Mr Basar
Director
Company registration number: 10222744
Interlex International Limited
Notes to the Financial Statements
Year ended 31 December 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 Suite 1, First floor, 1 Duchess Street, London, W1W 6AN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
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.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fixtures, fittings and equipment
-
33% straight line
Motor vehicles
-
25% straight line
Equipment
-
33% straight line
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
55,132
85,719
2,148
142,999
--------
--------
-------
---------
Depreciation
At 1 January 2023
55,132
29,297
1,482
85,911
Charge for the year
21,430
333
21,763
--------
--------
-------
---------
At 31 December 2023
55,132
50,727
1,815
107,674
--------
--------
-------
---------
Carrying amount
At 31 December 2023
34,992
333
35,325
--------
--------
-------
---------
At 31 December 2022
56,422
666
57,088
--------
--------
-------
---------
6. Debtors
2023
2022
£
£
Trade debtors
439,354
836,582
Other debtors
176,357
267,921
---------
------------
615,711
1,104,503
---------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
57,120
68,679
Corporation tax
169,739
176,800
Social security and other taxes
129,335
26,993
Other creditors
614,295
623,364
---------
---------
970,489
895,836
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
49,460
61,286
--------
--------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
24,000
24,000
Later than 1 year and not later than 5 years
24,000
--------
--------
24,000
48,000
--------
--------
10. Directors' advances, credits and guarantees
At the year end, the company owed the directors £543,641 (2022:£411,577). The loans were on interest free terms and repayable on demand. Dividends paid to directors during the year amounted to £656,269.
11. Related party transactions
During the year, the company paid rent totalling £24,000 to Mr Pomford. Included in other debtors is an amount of £119,946 (2022: £199,055) receivable from Interlex Sport SLU, a company controlled by Mr Pomford. The loan is interest free and repayable on demand.