Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false2023-03-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03515324 2023-03-01 2024-02-29 03515324 2022-03-01 2023-02-28 03515324 2024-02-29 03515324 2023-02-28 03515324 c:CompanySecretary1 2023-03-01 2024-02-29 03515324 c:Director1 2023-03-01 2024-02-29 03515324 c:RegisteredOffice 2023-03-01 2024-02-29 03515324 d:FurnitureFittings 2023-03-01 2024-02-29 03515324 d:FurnitureFittings 2024-02-29 03515324 d:FurnitureFittings 2023-02-28 03515324 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03515324 d:CurrentFinancialInstruments 2024-02-29 03515324 d:CurrentFinancialInstruments 2023-02-28 03515324 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 03515324 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 03515324 d:ShareCapital 2024-02-29 03515324 d:ShareCapital 2023-02-28 03515324 d:RetainedEarningsAccumulatedLosses 2024-02-29 03515324 d:RetainedEarningsAccumulatedLosses 2023-02-28 03515324 c:FRS102 2023-03-01 2024-02-29 03515324 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 03515324 c:FullAccounts 2023-03-01 2024-02-29 03515324 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03515324 2 2023-03-01 2024-02-29 03515324 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Company registration number: 03515324







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 FEBRUARY 2024


IMPERIAL TUBE AND FITTINGS LIMITED






































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IMPERIAL TUBE AND FITTINGS LIMITED
 


 
COMPANY INFORMATION


Director
Mr W A Eve 




Company secretary
Mrs S McDougall



Registered number
03515324



Registered office
Lynton House
7-12 Tavistock Square

London

WC1H 9LT




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


IMPERIAL TUBE AND FITTINGS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


IMPERIAL TUBE AND FITTINGS LIMITED
REGISTERED NUMBER:03515324



STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
419
706

  
419
706

Current assets
  

Stocks
 5 
11,141
14,851

Debtors: amounts falling due within one year
 6 
35,073
10,653

Cash at bank and in hand
  
39,873
20,063

  
86,087
45,567

Creditors: amounts falling due within one year
 7 
(42,923)
(24,642)

Net current assets
  
 
 
43,164
 
 
20,925

Total assets less current liabilities
  
43,583
21,631

  

Net assets
  
43,583
21,631


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
43,483
21,531

  
43,583
21,631


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

W A Eve
Director
Date: 2 October 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 


IMPERIAL TUBE AND FITTINGS LIMITED
REGISTERED NUMBER:03515324


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024


Page 2

 


IMPERIAL TUBE AND FITTINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Imperial Tube and Fittings Limited is a private company limited by shares incorporated in England and Wales. The address of the principal place of business is Unit 16, Littleton House, Littleton Road, Ashford, Middlesex, TW15 1UU.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover is derived from the manufacture and supply of hoses, tubing and fittings and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Page 3

 


IMPERIAL TUBE AND FITTINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures, fittings and computer equipment
-
20% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Page 4

 


IMPERIAL TUBE AND FITTINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

  
2.10

Foreign currency translation

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Income and Retained Earnings within 'other operating income'.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 


IMPERIAL TUBE AND FITTINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and Machinery etc.

£



Cost or valuation


At 1 March 2023
4,165


Disposals
(2,490)



At 29 February 2024

1,675



Depreciation


At 1 March 2023
3,459


Charge for the year on owned assets
287


Disposals
(2,490)



At 29 February 2024

1,256



Net book value



At 29 February 2024
419



At 28 February 2023
706


5.


Stocks

29 February
28 February
2024
2023
£
£

Finished goods and goods for resale
11,141
14,851

11,141
14,851


Page 6

 


IMPERIAL TUBE AND FITTINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
35,073
6,141

Other debtors
-
4,512

35,073
10,653



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
17,148
7,397

Corporation tax
5,686
-

Other taxation and social security
1,001
145

Other creditors
15,988
14,000

Accruals and deferred income
3,100
3,100

42,923
24,642



8.


Financial commitments

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to the following:

29 February
28 February
2024
2023
        £
        £
Within 1 year

15,619

17,999
 
Within 2 to 5 years

-

15,619
 

15,619

33,618
 

 
Page 7