Company registration number 08487674 (England and Wales)
INDUSTVILLE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
INDUSTVILLE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
INDUSTVILLE LTD
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
114,947
156,043
Current assets
Stocks
682,320
725,441
Debtors
5
386,229
328,208
Cash at bank and in hand
1,627,646
1,994,666
2,696,195
3,048,315
Creditors: amounts falling due within one year
6
(544,008)
(719,750)
Net current assets
2,152,187
2,328,565
Total assets less current liabilities
2,267,134
2,484,608
Creditors: amounts falling due after more than one year
7
(426,320)
(239,394)
Provisions for liabilities
(9,294)
(16,207)
Net assets
1,831,520
2,229,007
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss reserves
1,821,520
2,219,007
Total equity
1,831,520
2,229,007
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
INDUSTVILLE LTD
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 22 January 2025 and are signed on its behalf by:
M Rypacek Miller
Director
Company Registration No. 08487674
INDUSTVILLE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Industville Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Wellesley House, Duke of Wellington Avenue, Royal Arsenal, London, SE18 6SS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings leasehold
5 years straight line
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
3 years straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’, which are measured at amortised costs. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
INDUSTVILLE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
24
27
INDUSTVILLE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Tangible fixed assets
Land and buildings leasehold
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
23,813
139,847
68,827
67,950
300,437
Additions
1,748
5,806
7,554
At 30 April 2024
23,813
141,595
74,633
67,950
307,991
Depreciation and impairment
At 1 May 2023
9,526
66,301
54,411
14,156
144,394
Depreciation charged in the year
4,763
18,424
12,015
13,448
48,650
At 30 April 2024
14,289
84,725
66,426
27,604
193,044
Carrying amount
At 30 April 2024
9,524
56,870
8,207
40,346
114,947
At 30 April 2023
14,287
73,546
14,416
53,794
156,043
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
106,440
130,184
Other debtors
158,388
103,122
Prepayments and accrued income
121,401
94,902
386,229
328,208
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
206,803
75,683
Taxation and social security
166,324
457,787
Other creditors
170,881
186,280
544,008
719,750
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
426,320
239,394
INDUSTVILLE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
545,249
826,596
The operating lease, as disclosed above, represents a lease on buildings and a car hire.