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REGISTERED NUMBER: 03894378 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

INTERFACE MANUFACTURING LIMITED

INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378)






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


INTERFACE MANUFACTURING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: M Love
I R Casselden
J K Justice
N King
H O'Shaughnessy





SECRETARY: I R Casselden





REGISTERED OFFICE: Unit 4
Brunel Road
Churchfields Industrial Estate
St. Leonards On Sea
East Sussex
TN38 9RT





REGISTERED NUMBER: 03894378 (England and Wales)





ACCOUNTANTS: Xeinadin
2 Upperton Gardens
Eastbourne
East Sussex
BN21 2AH

INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 2,000
Property, plant and equipment 5 101,919 115,804
Investments 6 40,437 50
144,356 117,854

CURRENT ASSETS
Inventories 7 748,052 696,646
Debtors 8 919,087 738,802
Cash at bank 237,249 215,769
1,904,388 1,651,217
CREDITORS
Amounts falling due within one year 9 540,880 346,279
NET CURRENT ASSETS 1,363,508 1,304,938
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,507,864

1,422,792

CREDITORS
Amounts falling due after more than one
year

10

15,225

25,115
NET ASSETS 1,492,639 1,397,677

CAPITAL AND RESERVES
Called up share capital 46,387 46,387
Share premium 38,497 38,497
Retained earnings 1,407,755 1,312,793
SHAREHOLDERS' FUNDS 1,492,639 1,397,677

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 directors acknowledge their 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.

INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:




M Love - Director



I R Casselden - Director


INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378)

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

1. STATUTORY INFORMATION

Interface Manufacturing 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.

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

Goodwill
The directors consider that the goodwill purchased in 2006 now has negligible value since it related to client relationships forged by the previous owner.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - Straight line over 3 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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.


INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is not recognised in respect of timing differences that have originated but not reversed at the balance sheet date. The directors accept that this accounting treatment does not comply with Financial Reporting Standard 102 but still conclude that the financial statements give a true and fair view of the company's financial position and performance.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 30 ).

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 254,122 2,000 256,122
AMORTISATION
At 1 March 2023
and 29 February 2024 254,122 - 254,122
NET BOOK VALUE
At 29 February 2024 - 2,000 2,000
At 28 February 2023 - 2,000 2,000

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 24,502 255,490 8,265 31,153 319,410
Additions - - 4,398 6,583 10,981
Disposals - - (383 ) - (383 )
At 29 February 2024 24,502 255,490 12,280 37,736 330,008
DEPRECIATION
At 1 March 2023 20,296 146,367 6,589 30,354 203,606
Charge for year 1,051 21,825 944 770 24,590
Eliminated on disposal - - (107 ) - (107 )
At 29 February 2024 21,347 168,192 7,426 31,124 228,089
NET BOOK VALUE
At 29 February 2024 3,155 87,298 4,854 6,612 101,919
At 28 February 2023 4,206 109,123 1,676 799 115,804

INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378)

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

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 March 2023 50 - 50
Additions - 40,387 40,387
At 29 February 2024 50 40,387 40,437
NET BOOK VALUE
At 29 February 2024 50 40,387 40,437
At 28 February 2023 50 - 50

7. INVENTORIES
2024 2023
£    £   
Stocks 378,549 646,140
Work-in-progress 250,660 -
Finished goods 118,843 50,506
748,052 696,646

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 883,822 450,444
Amounts recoverable under contracts - 264,575
Other debtors 28 10
Amounts owed by related undertakings 18,694 11,404
Prepayments 16,543 12,369
919,087 738,802

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,732 9,732
Trade creditors 227,013 161,444
Amounts owed to associates 3,227 3,089
Tax 50,878 69,153
Social security and other taxes 18,572 22,051
Pension Payable 1,931 1,990
VAT 5,957 3,057
Other creditors 12,784 16,060
Accrued expenses 210,786 59,703
540,880 346,279

INTERFACE MANUFACTURING LIMITED (REGISTERED NUMBER: 03894378)

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

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 15,225 25,115

11. CHARGES

The Registrar of Companies for England and Wales certified that a debenture dated 1 July 2010 for securing all monies due or to become due from the company to HSBC Bank Plc on any account whatsoever, was registered pursuant to chapter 1 part 25 of the Companies Act 2006 on the 6 July 2010.

There is also a fixed and floating charge over all property and assets dated 1 September 2006 in favour of RBS Invoice Finance Limited.