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REGISTERED NUMBER: 07931411 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Inside Out Office & Warehouse Cleaning
Ltd

Inside Out Office & Warehouse Cleaning
Ltd (Registered number: 07931411)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Inside Out Office & Warehouse Cleaning
Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: N M Strowger





REGISTERED OFFICE: Santa Maria
Anchor Lane, The Heath
Dedham
Colchester
Essex
CO7 6BX





REGISTERED NUMBER: 07931411 (England and Wales)





ACCOUNTANT: Dedham Accountancy & Taxation Services Limited
t/a R J Woods & Co
Santa Maria
Anchor Lane, The Heath
Dedham
Colchester
Essex
CO7 6BX

Inside Out Office & Warehouse Cleaning
Ltd (Registered number: 07931411)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 7,662 10,216

CURRENT ASSETS
Debtors 6 8,052 28,028
Cash at bank 122 23,128
8,174 51,156
CREDITORS
Amounts falling due within one year 7 23,677 38,827
NET CURRENT (LIABILITIES)/ASSETS (15,503 ) 12,329
TOTAL ASSETS LESS CURRENT
LIABILITIES

(7,841

)

22,545

CREDITORS
Amounts falling due after more than one
year

8

(8,750

)

(20,211

)

PROVISIONS FOR LIABILITIES 11 (1,073 ) (1,533 )
NET (LIABILITIES)/ASSETS (17,664 ) 801

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings (17,764 ) 701
SHAREHOLDERS' FUNDS (17,664 ) 801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Inside Out Office & Warehouse Cleaning
Ltd (Registered number: 07931411)

Balance Sheet - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 August 2024 and were signed by:





N M Strowger - Director


Inside Out Office & Warehouse Cleaning
Ltd (Registered number: 07931411)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Inside Out Office & Warehouse Cleaning Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are presented in Sterling (£).

Going concern
The director has considered the company's position at the time of signing the financial statements and for the foreseeable future, being a period of at least twelve months from the date of approval of the financial statements. It is difficult to produce precise forecasts for the remainder of the current financial year and the medium term. Nevertheless, the director has considered the company's financial strength, together with an assessment its operations and its finances. In addition, the director has confirmed that he will continue to financially support the company for the foreseeable future, and there have been no indications from the company's other creditors that they will not continue to support the company for the foreseeable future,.

Based on all of this, the director has concluded that there is a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. Therefore, the company will continue to adopt the going concern basis of accounting in preparing these financial statements.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

Turnover
Turnover 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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods and services:
Revenue from the sale of goods and services is recognised when the company has transferred the significant risks and rewards of ownership to the buyer, which is usually on the shipment of the goods, or on the completion of the provision of services.

Inside Out Office & Warehouse Cleaning
Ltd (Registered number: 07931411)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. ACCOUNTING POLICIES - continued

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 the assets less their residual value over their estimated useful lives, using the straight line method.

Depreciation is provided on the following bases:
Plant and machinery etc - 33% on cost and 25% on the reducing balance

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 or losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent 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 tax charge is calculated on the basis of the 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances
have been met.

Deferred tax balances are not recognised in respect of permanent timing differences except in respect of business combinations, when deferred tax is recognised on the differences between fair values of assets acquired and the future tax deductions available for them and the differences between fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Leasing commitments
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the company's benefit from the use of the leased asset.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Inside Out Office & Warehouse Cleaning
Ltd (Registered number: 07931411)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans,are measured at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 34,666
DEPRECIATION
At 1 March 2023 24,450
Charge for year 2,554
At 29 February 2024 27,004
NET BOOK VALUE
At 29 February 2024 7,662
At 28 February 2023 10,216

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 18,950
DEPRECIATION
At 1 March 2023 8,735
Charge for year 2,554
At 29 February 2024 11,289
NET BOOK VALUE
At 29 February 2024 7,661
At 28 February 2023 10,215

Inside Out Office & Warehouse Cleaning
Ltd (Registered number: 07931411)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 8,052 23,012
Prepayments and accrued income - 5,016
8,052 28,028

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 8,178 8,377
Hire purchase contracts (see note 9) 2,274 2,505
Trade creditors 1,809 2,629
Taxation and social security 7,610 13,019
Other creditors 3,806 12,297
23,677 38,827

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 8,750 15,750
Hire purchase contracts (see note 9) - 2,274
Other creditors - 2,187
8,750 20,211

Inside Out Office & Warehouse Cleaning
Ltd (Registered number: 07931411)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
29.2.24 28.2.23
£    £   
Gross obligations repayable:
Within one year 2,404 2,872
Between one and five years - 2,404
2,404 5,276

Finance charges repayable:
Within one year 130 367
Between one and five years - 130
130 497

Net obligations repayable:
Within one year 2,274 2,505
Between one and five years - 2,274
2,274 4,779


10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank overdrafts 1,178 1,377
Bank loans 15,750 22,750
Hire purchase contracts 2,274 4,779
19,202 28,906

Bank loans represents a loan from the company's bankers under the Coronavirus Business Interruption Loan Scheme (CBILS). The CBILS loan is guaranteed by the Government to the extent of 80% of the capital balance outstanding. The loan and other amounts owed to the company's bankers are secured by a debenture which gives fixed and floating charges over the company's assets.

11. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax
Accelerated capital allowances 1,073 1,533

Inside Out Office & Warehouse Cleaning
Ltd (Registered number: 07931411)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2023 1,533
Accelerated capital allowances (460 )
Balance at 29 February 2024 1,073

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

13. RELATED PARTY DISCLOSURES

At the balance sheet date Other Creditors includes £94 (2023: (£98) representing the balance of loans made to the company by the director to the company for working capital. The loans are unsecured, interest free and repayable on demand.