Company Registration No. 03369629 (England and Wales)
Inside-Out Branding Limited
Unaudited accounts
for the year ended 30 June 2024
Inside-Out Branding Limited
Unaudited accounts
Contents
Inside-Out Branding Limited
Company Information
for the year ended 30 June 2024
Directors
Nicholas Francis Watson Turley
Sue Turley
Company Number
03369629 (England and Wales)
Registered Office
Upper Woodhead
Krumlin Barkisland
Halifax
West Yorkshire
HX4 0EQ
Accountants
Bridgehouse Accountancy Svcs
27 Greenacre Park
Rawdon
Leeds
West Yorkshire
LS19 6AP
Inside-Out Branding Limited
Statement of financial position
as at 30 June 2024
Tangible assets
5,367
8,050
Cash at bank and in hand
27,318
10,033
Creditors: amounts falling due within one year
(23,873)
(8,709)
Net current assets
4,371
1,750
Called up share capital
900
900
Capital redemption reserve
120,000
120,000
Profit and loss account
(111,162)
(111,100)
Shareholders' funds
9,738
9,800
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by
Nicholas Francis Watson Turley
Director
Company Registration No. 03369629
Inside-Out Branding Limited
Notes to the Accounts
for the year ended 30 June 2024
Inside-Out Branding Limited is a private company, limited by shares, registered in England and Wales, registration number 03369629. The registered office is Upper Woodhead, Krumlin Barkisland, Halifax, West Yorkshire, HX4 0EQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:
Fixtures & fittings
3 - 10 years
Computer equipment
3 - 4 years
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Inside-Out Branding Limited
Notes to the Accounts
for the year ended 30 June 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
7,369
4,126
Taxes and social security
1,504
1,504
Other creditors
8,096
3,931
Allotted, called up and fully paid:
900 Ordinary shares of £1 each
900
900
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).