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Company No: 03400514 (England and Wales)

INTERNATIONAL EXPORT SUPPLIES LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

INTERNATIONAL EXPORT SUPPLIES LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

INTERNATIONAL EXPORT SUPPLIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
INTERNATIONAL EXPORT SUPPLIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 167,522 196,647
167,522 196,647
Current assets
Stocks 4 245,234 203,124
Debtors 5 2,507,928 2,277,021
Investments 6 494,154 426,446
Cash at bank and in hand 135,444 259,620
3,382,760 3,166,211
Creditors: amounts falling due within one year 7 ( 1,628,530) ( 1,760,917)
Net current assets 1,754,230 1,405,294
Total assets less current liabilities 1,921,752 1,601,941
Provision for liabilities 8 ( 11,853) ( 17,882)
Net assets 1,909,899 1,584,059
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 1,908,899 1,583,059
Total shareholder's funds 1,909,899 1,584,059

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of International Export Supplies Limited (registered number: 03400514) were approved and authorised for issue by the Director. They were signed on its behalf by:

D S Dodd
Director

25 March 2025

INTERNATIONAL EXPORT SUPPLIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
INTERNATIONAL EXPORT SUPPLIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

International Export Supplies Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Interex House Maitland Road,, Lion Barn Industrial Estate,, Needham Market,, IP6 8NS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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 assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 5 years straight line
Vehicles 4 years straight line
Office equipment 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 16 18

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £ £
Cost
At 01 October 2023 174,396 22,600 201,399 59,808 28,558 486,761
Additions 0 0 32,750 1,895 3,401 38,046
At 30 September 2024 174,396 22,600 234,149 61,703 31,959 524,807
Accumulated depreciation
At 01 October 2023 89,937 22,109 102,506 52,058 23,504 290,114
Charge for the financial year 11,211 155 50,350 2,385 3,070 67,171
At 30 September 2024 101,148 22,264 152,856 54,443 26,574 357,285
Net book value
At 30 September 2024 73,248 336 81,293 7,260 5,385 167,522
At 30 September 2023 84,459 491 98,893 7,750 5,054 196,647

4. Stocks

2024 2023
£ £
Finished goods 245,234 203,124

5. Debtors

2024 2023
£ £
Trade debtors 764,737 583,341
Amounts owed by Group undertakings 0 1,499,542
Amounts owed by connected companies 1,483,348 0
Amounts owed by director 14,481 12,840
Prepayments 82,271 100,424
VAT recoverable 163,091 76,874
Other debtors 0 4,000
2,507,928 2,277,021

6. Current asset investments

2024 2023
£ £
Listed investments – at fair value 494,154 426,446

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 687,351 579,622
Amounts owed to Group undertakings 666,482 1,018,367
Accruals 107,390 54,218
Taxation and social security 123,562 66,016
Other creditors 43,745 42,694
1,628,530 1,760,917

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 17,882) ( 33,485)
Credited to the Income Statement 6,029 15,603
At the end of financial year ( 11,853) ( 17,882)

9. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 113,750 148,750

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 35,000 35,000
between one and five years 78,750 113,750
113,750 148,750

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 1,263 1,511

10. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amount owed by the director 14,481 12,840

11. Ultimate controlling party

Parent Company:

Amber Star Holdings Limited
Interex House Maitland Road, Lion Barn Industrial Estate, Needham Market, IP6 8NS