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REGISTERED NUMBER: 07262844 (England and Wales)

























Unaudited Financial Statements for the Year Ended 31 May 2024

for

Independent Fitters Limited

Independent Fitters Limited (Registered number: 07262844)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Independent Fitters Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: S R Blackshaw





REGISTERED OFFICE: 138 Stockport Road
Marple
Stockport
Cheshire
SK6 6DQ





REGISTERED NUMBER: 07262844 (England and Wales)





ACCOUNTANTS: IN Accountancy Limited
2 Station View
Bramhall Moor Lane
Hazel Grove
Stockport
Cheshire
SK7 5ER

Independent Fitters Limited (Registered number: 07262844)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,092 -
7,092 -

CURRENT ASSETS
Stocks 700 700
Debtors 6 10,099 2,469
Cash at bank and in hand 15,528 16,462
26,327 19,631
CREDITORS
Amounts falling due within one year 7 31,253 29,836
NET CURRENT LIABILITIES (4,926 ) (10,205 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,166 (10,205 )

CREDITORS
Amounts falling due after more than one
year

8

(5,667

)

-

PROVISIONS FOR LIABILITIES (1,274 ) -
NET LIABILITIES (4,775 ) (10,205 )

Independent Fitters Limited (Registered number: 07262844)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,875 ) (10,305 )
SHAREHOLDERS' FUNDS (4,775 ) (10,205 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 October 2024 and were signed by:





S R Blackshaw - Director


Independent Fitters Limited (Registered number: 07262844)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Independent Fitters Limited 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.

2. ACCOUNTING POLICIES

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

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Independent Fitters Limited (Registered number: 07262844)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. 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.

Going concern
The balance sheet is insolvent. There is no indication that creditors will withdraw their support and the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 9,500
AMORTISATION
At 1 June 2023
and 31 May 2024 9,500
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Independent Fitters Limited (Registered number: 07262844)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 6,415
Additions 7,400
Disposals (1,400 )
At 31 May 2024 12,415
DEPRECIATION
At 1 June 2023 6,415
Charge for year 308
Eliminated on disposal (1,400 )
At 31 May 2024 5,323
NET BOOK VALUE
At 31 May 2024 7,092

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 8,863 2,469
Other debtors 1,236 -
10,099 2,469

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 2,000 -
Trade creditors 17,658 21,579
Taxation and social security 4,797 2,196
Other creditors 6,798 6,061
31,253 29,836

Independent Fitters Limited (Registered number: 07262844)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 5,667 -

9. SECURED DEBTS

The bank loan shown within the accounts has been guaranteed personally by the directors.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S R Blackshaw.