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REGISTERED NUMBER: 05997821















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

INNERDRIVE LIMITED

INNERDRIVE LIMITED (Registered number: 05997821)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 6

INNERDRIVE LIMITED

COMPANY INFORMATION
for the Year Ended 30 APRIL 2024







DIRECTORS: E T Watson
B K Busch





SECRETARY: E T Watson





REGISTERED OFFICE: 259 Croydon Road
Beckenham
Kent
BR3 3PS





REGISTERED NUMBER: 05997821





ACCOUNTANTS: HARLEYS
259 Croydon Road
Beckenham
Kent
BR3 3PS

INNERDRIVE LIMITED (Registered number: 05997821)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,800 20,900

CURRENT ASSETS
Debtors 5 25,975 48,510
Cash at bank 30,864 83,065
56,839 131,575
CREDITORS
Amounts falling due within one year 6 55,905 102,866
NET CURRENT ASSETS 934 28,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,734

49,609

PROVISIONS FOR LIABILITIES 7 4,000 4,000
NET ASSETS 17,734 45,609

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 17,634 45,509
SHAREHOLDERS' FUNDS 17,734 45,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 21 November 2024 and were signed on its behalf by:




E T Watson - Director



B K Busch - Director


INNERDRIVE LIMITED (Registered number: 05997821)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024

1. STATUTORY INFORMATION

INNERDRIVE LIMITED is a private company, limited by shares , registered in Not specified/Other. 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Office equipment - 20% on reducing balance

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 - 11 ).

INNERDRIVE LIMITED (Registered number: 05997821)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 May 2023 7,050 32,330 39,380
Additions 938 4,187 5,125
At 30 April 2024 7,988 36,517 44,505
DEPRECIATION
At 1 May 2023 2,350 16,130 18,480
Charge for year 1,138 4,087 5,225
At 30 April 2024 3,488 20,217 23,705
NET BOOK VALUE
At 30 April 2024 4,500 16,300 20,800
At 30 April 2023 4,700 16,200 20,900

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 20,182 42,274
Prepayments 5,793 6,236
25,975 48,510

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 8,498 10,560
Tax 3,150 18,700
Social security and other taxes 6,939 5,715
VAT 11,933 18,576
Directors' current accounts 23,200 47,200
Accrued expenses 2,185 2,115
55,905 102,866

7. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 4,000 4,000

Deferred
tax
£   
Balance at 1 May 2023 4,000
Balance at 30 April 2024 4,000

INNERDRIVE LIMITED (Registered number: 05997821)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 May 2023 45,509
Profit for the year 13,125
Dividends (41,000 )
At 30 April 2024 17,634

INNERDRIVE LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
INNERDRIVE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






HARLEYS
259 Croydon Road
Beckenham
Kent
BR3 3PS


21 November 2024