Registered number
08043765
INTERIOR TEC LIMITED
Filleted Accounts
30 April 2024
INTERIOR TEC LIMITED
Registered number: 08043765
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,933 5,573
Current assets
Debtors 4 12,316 12,496
Creditors: amounts falling due within one year 5 (10,922) (17,250)
Net current assets/(liabilities) 1,394 (4,754)
Total assets less current liabilities 11,327 819
Creditors: amounts falling due after more than one year 6 (9,506) (11,339)
Net assets/(liabilities) 1,821 (10,520)
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,820 (10,521)
Shareholders' funds 1,821 (10,520)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Apu Hoque
Director
Approved by the board on 21 February 2025
INTERIOR TEC LIMITED
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicle over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 5,338 16,365 21,703
Additions 2,350 7,200 9,550
Disposals - (2,706) (2,706)
At 30 April 2024 7,688 20,859 28,547
Depreciation
At 1 May 2023 2,471 13,659 16,130
Charge for the year 1,044 1,440 2,484
At 30 April 2024 3,515 15,099 18,614
Net book value
At 30 April 2024 4,173 5,760 9,933
At 30 April 2023 2,867 2,706 5,573
4 Debtors 2024 2023
£ £
Trade debtors 2,469 4,897
Other debtors 9,847 7,599
12,316 12,496
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,733 3,493
Trade creditors 760 760
Other creditors 7,429 12,997
10,922 17,250
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,506 11,339
7 Other information
INTERIOR TEC LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
134 Glebe Court
London Road
Mitcham
London
CR4 3NJ
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