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IP Enclosures UK Limited

Registered Number
13240421
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

IP Enclosures UK Limited
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

Giles Francis
Peter Francis
Jonathan Hungerford

Registered Address

Unit 11 Sherwood Road
Bromsgrove
B60 3DR

Registered Number

13240421 (England and Wales)
IP Enclosures UK Limited
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets346,63145,484
46,63145,484
Current assets
Stocks4477,255494,582
Debtors541,420117,964
Cash at bank and on hand81,13766,856
599,812679,402
Creditors amounts falling due within one year6(878,908)(871,603)
Net current assets (liabilities)(279,096)(192,201)
Total assets less current liabilities(232,465)(146,717)
Net assets(232,465)(146,717)
Capital and reserves
Called up share capital1,0001,000
Profit and loss account(233,465)(147,717)
Shareholders' funds(232,465)(146,717)
The financial statements were approved and authorised for issue by the Board of Directors on 22 April 2025, and are signed on its behalf by:
Giles Francis
Director
Registered Company No. 13240421
IP Enclosures UK Limited
Notes to the Financial Statements
for the year ended 30 June 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery13-
Fixtures and fittings-8
Office Equipment50-
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 year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 2348,095
Additions8,250
At 30 June 2456,345
Depreciation and impairment
At 01 July 232,611
Charge for year7,103
At 30 June 249,713
Net book value
At 30 June 2446,631
At 30 June 2345,484
4.Stocks

2024

2023

££
Raw materials and consumables477,255494,582
Total477,255494,582
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables32,043110,178
Other debtors3,111-
Prepayments and accrued income6,2667,786
Total41,420117,964
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables77,123103,328
Taxation and social security32,03741,708
Other creditors734,536649,674
Accrued liabilities and deferred income35,21276,893
Total878,908871,603