Company registration number 07915435 (England and Wales)
INTERIM BLUE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
INTERIM BLUE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
INTERIM BLUE LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
54,549
72,095
Current assets
Debtors
4
91,858
205,291
Cash at bank and in hand
267,885
148,326
359,743
353,617
Creditors: amounts falling due within one year
5
(116,786)
(195,634)
Net current assets
242,957
157,983
Total assets less current liabilities
297,506
230,078
Creditors: amounts falling due after more than one year
6
(60,710)
(68,126)
Provisions for liabilities
(13,108)
(13,698)
Net assets
223,688
148,254
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
223,686
148,252
Total equity
223,688
148,254
INTERIM BLUE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 October 2024 and are signed on its behalf by:
Ms C Benson
Mr K Poneskis
Director
Director
Company registration number 07915435 (England and Wales)
INTERIM BLUE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 February 2022
2
20,946
20,948
Year ended 31 January 2023:
Profit and total comprehensive income for the year
-
414,056
414,056
Dividends
-
(286,750)
(286,750)
Balance at 31 January 2023
2
148,252
148,254
Year ended 31 January 2024:
Profit and total comprehensive income for the year
-
279,434
279,434
Dividends
-
(204,000)
(204,000)
Balance at 31 January 2024
2
223,686
223,688
INTERIM BLUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information

Interim Blue Limited is a private company limited by shares incorporated in England and Wales.

The registered office is:

1st Floor 3 & 4 Cranmere Ct

Lustleigh Close

Matford Business Park

Exeter

Devon

EX2 8PW

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

 

The company recognises revenue when payment is made for consulting services provided.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Equity instruments

Ordinary shares are classified as equity.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

INTERIM BLUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
INTERIM BLUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
3
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 February 2023
6,066
92,001
98,067
Additions
198
-
0
198
At 31 January 2024
6,264
92,001
98,265
Depreciation and impairment
At 1 February 2023
2,972
23,000
25,972
Depreciation charged in the year
494
17,250
17,744
At 31 January 2024
3,466
40,250
43,716
Carrying amount
At 31 January 2024
2,798
51,751
54,549
At 31 January 2023
3,094
69,001
72,095
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,154
132,435
Other debtors
87,704
72,856
91,858
205,291
5
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
7,416
7,416
Trade creditors
58
641
Corporation tax
93,751
83,975
Other taxation and social security
15,213
27,552
Other creditors
114
75,980
Accruals and deferred income
234
70
116,786
195,634
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Obligations under finance leases
60,710
68,126
INTERIM BLUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
7
Related party transactions

During the year a company under common control loaned money to the company.

 

At the balance sheet date the amount due to the company under common control was £114 (2023 - £114).

 

This an interest free loan and there is no set date for repayment.

8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan to director, repaid within 9 months of year end
2.25
(22,422)
45,000
2
(7,787)
14,793
Loan to director, repaid within 9 months of year end
2.25
(53,444)
80,622
2
(16,694)
10,486
(75,866)
125,622
4
(24,481)
25,279
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