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Company Registration No. 11796227 (England and Wales)
Industry of Us Limited Unaudited accounts for the year ended 31 January 2024
Industry of Us Limited Unaudited accounts Contents
Page
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Industry of Us Limited Company Information for the year ended 31 January 2024
Directors
Kate Dowler James Eelbeck Peter Fullagar
Company Number
11796227 (England and Wales)
Registered Office
First Floor 4 Colston Yard Bristol BS1 5BD England
Accountants
Evans Entwistle Office 12a Equinox South, Great Park Road Bradley Stoke Bristol BS32 4QL
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Industry of Us Limited for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Industry of Us Limited for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Office 12a Equinox South, Great Park Road Bradley Stoke Bristol BS32 4QL 24 September 2024
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Industry of Us Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
15,513 
19,623 
Current assets
Debtors
68,614 
68,133 
Cash at bank and in hand
61,133 
188,371 
129,747 
256,504 
Creditors: amounts falling due within one year
(39,318)
(113,023)
Net current assets
90,429 
143,481 
Total assets less current liabilities
105,942 
163,104 
Creditors: amounts falling due after more than one year
(18,697)
(7,557)
Provisions for liabilities
Deferred tax
(2,936)
- 
Net assets
84,309 
155,547 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
84,209 
155,447 
Shareholders' funds
84,309 
155,547 
For the year ending 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by
Peter Fullagar Director Company Registration No. 11796227
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Industry of Us Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Industry of Us Limited is a private company, limited by shares, registered in England and Wales, registration number 11796227. The registered office is First Floor, 4 Colston Yard, Bristol, BS1 5BD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
5 years straight line
Computer equipment
5 years straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Industry of Us Limited Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
1,282 
25,326 
26,608 
Additions
937 
425 
1,362 
At 31 January 2024
2,219 
25,751 
27,970 
Depreciation
At 1 February 2023
21 
6,964 
6,985 
Charge for the year
378 
5,094 
5,472 
At 31 January 2024
399 
12,058 
12,457 
Net book value
At 31 January 2024
1,820 
13,693 
15,513 
At 31 January 2023
1,261 
18,362 
19,623 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
3,154 
- 
Trade debtors
65,413 
65,533 
Accrued income and prepayments
- 
2,600 
Other debtors
47 
- 
68,614 
68,133 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
8,783 
Trade creditors
5,207 
6,030 
Taxes and social security
30,769 
55,255 
Other creditors
3,342 
42,955 
39,318 
113,023 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Loans from directors
18,697 
7,557 
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Industry of Us Limited Notes to the Accounts for the year ended 31 January 2024
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
2,936 
- 
2024 
2023 
£ 
£ 
Charged to the profit and loss account
2,936 
- 
Provision at end of year
2,936 
- 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
10,000 Ordinary shares of £0.01 each
100 
100 
10
Average number of employees
During the year the average number of employees was 14 (2023: 8).
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