2023-04-012024-03-312024-03-31false03335461INTERMODE 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INTERMODE LIMITED

Registered Number
03335461
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

INTERMODE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

GUNC, Mustafa Asim

Company Secretary

GUNC, Ilknur

Registered Address

Unit S Oyo Business Units
Hindmans Way
Dagenham
RM9 6LN

Registered Number

03335461 (England and Wales)
INTERMODE LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets393,06773,058
93,06773,058
Current assets
Stocks4123,500115,500
Debtors94,55159,709
Cash at bank and on hand15,50536,573
233,556211,782
Creditors amounts falling due within one year5(212,486)(166,492)
Net current assets (liabilities)21,07045,290
Total assets less current liabilities114,137118,348
Creditors amounts falling due after one year6(36,286)(41,536)
Net assets77,85176,812
Capital and reserves
Called up share capital22
Profit and loss account77,84976,810
Shareholders' funds77,85176,812
The financial statements were approved and authorised for issue by the Director on 3 January 2025, and are signed on its behalf by:
GUNC, Mustafa Asim
Director
Registered Company No. 03335461
INTERMODE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery10
Fixtures and fittings10
Vehicles10
Office Equipment10
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year54
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 2373,23521,8909,156104,281
Additions30,350--30,350
At 31 March 24103,58521,8909,156134,631
Depreciation and impairment
At 01 April 2322,2687,7521,20331,223
Charge for year8,1321,41479510,341
At 31 March 2430,4009,1661,99841,564
Net book value
At 31 March 2473,18512,7247,15893,067
At 31 March 2350,96714,1387,95373,058
4.Stocks

2024

2023

££
Finished goods123,500115,500
Total123,500115,500
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables19,00122,937
Bank borrowings and overdrafts1,5395,550
Other creditors191,946138,005
Total212,486166,492
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts36,28641,536
Total36,28641,536