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Indigo Tangerine Limited

Registered Number
10390301
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

Indigo Tangerine Limited
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

A C Wood

Registered Address

First Floor Offices
40 Norwood
Beverley
HU17 9EY

Registered Number

10390301 (England and Wales)
Indigo Tangerine Limited
Statement of Financial Position
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3195317
195317
Current assets
Stocks41,434-
Debtors52273,134
Cash at bank and on hand2,5438,080
4,20411,214
Creditors amounts falling due within one year6(4,008)(2,155)
Net current assets (liabilities)1969,059
Total assets less current liabilities3919,376
Creditors amounts falling due after one year7(4,932)(5,978)
Provisions for liabilities-(60)
Net assets(4,541)3,338
Capital and reserves
Called up share capital100100
Profit and loss account(4,641)3,238
Shareholders' funds(4,541)3,338
The financial statements were approved and authorised for issue by the Director on 27 January 2025, and are signed on its behalf by:
A C Wood
Director
Registered Company No. 10390301
Indigo Tangerine Limited
Notes to the Financial Statements
for the year ended 30 September 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
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
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
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 year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 October 232,3282,328
At 30 September 242,3282,328
Depreciation and impairment
At 01 October 232,0112,011
Charge for year122122
At 30 September 242,1332,133
Net book value
At 30 September 24195195
At 30 September 23317317
4.Stocks

2024

2023

££
Work in progress1,434-
Total1,434-
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2271,504
Other debtors-1,630
Total2273,134
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables48-
Bank borrowings and overdrafts1,3891,353
Amounts owed to related parties1,8952
Taxation and social security-166
Accrued liabilities and deferred income676634
Total4,0082,155
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £1,389 (2023 £1,353) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 10 years, with no repayments in the first year, and with the final instalment due in May 2030. The overall carrying value of the loan as at the year-end is £6,321 (2023 £7,331).
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts4,9325,978
Total4,9325,978
Long term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £4,932 (2023 £5,978) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 10 years, with no repayments in the first year, and with the final instalment due in May 2030. The overall carrying value of the loan as at the year-end is £6,321 (2023 £7,331).