Company Registration No. 09438347 (England and Wales)
IGS Interiors Limited
Unaudited accounts
for the year ended 31 March 2024
IGS Interiors Limited
Unaudited accounts
Contents
IGS Interiors Limited
Company Information
for the year ended 31 March 2024
Director
Mr James Smithers
Company Number
09438347 (England and Wales)
Registered Office
380A New Hythe Lane
Larkfield
Aylesford
KENT
ME20 6RZ
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
IGS Interiors Limited
Statement of financial position
as at 31 March 2024
Tangible assets
1,972
2,239
Cash at bank and in hand
87,150
104,811
Creditors: amounts falling due within one year
(544,536)
(570,967)
Net current liabilities
(161,636)
(14,664)
Total assets less current liabilities
(159,664)
(12,425)
Creditors: amounts falling due after more than one year
-
(19,905)
Net liabilities
(159,664)
(32,330)
Called up share capital
100
100
Profit and loss account
(159,764)
(32,430)
Shareholders' funds
(159,664)
(32,330)
For the year ending 31 March 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 director acknowledges his 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 and authorised for issue on 9 December 2024 and were signed on its behalf by
Mr James Smithers
Director
Company Registration No. 09438347
IGS Interiors Limited
Notes to the Accounts
for the year ended 31 March 2024
IGS Interiors Limited is a private company, limited by shares, registered in England and Wales, registration number 09438347. The registered office is 380A New Hythe Lane, Larkfield, Aylesford, KENT, ME20 6RZ.
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.
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.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
IGS Interiors Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
3,263
7,998
11,261
At 31 March 2024
3,263
8,390
11,653
At 1 April 2023
2,472
6,550
9,022
Charge for the year
198
461
659
At 31 March 2024
2,670
7,011
9,681
At 31 March 2024
593
1,379
1,972
At 31 March 2023
791
1,448
2,239
Amounts falling due within one year
Trade debtors
188,128
324,879
Other debtors
107,622
126,613
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
19,842
11,109
Trade creditors
281,014
370,368
Amounts owed to group undertakings and other participating interests
5,000
-
Taxes and social security
238,680
166,277
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
James Smithers is the ultimate controller by virtue of his 100% shareholding
IGS Interiors Limited
Notes to the Accounts
for the year ended 31 March 2024
10
Average number of employees
During the year the average number of employees was 12 (2023: 12).