IRIS Accounts Production v25.1.0.734 08156901 director 1.8.23 31.7.24 31.7.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh081569012023-07-31081569012024-07-31081569012023-08-012024-07-31081569012022-07-31081569012022-08-012023-07-31081569012023-07-3108156901ns15:EnglandWales2023-08-012024-07-3108156901ns14:PoundSterling2023-08-012024-07-3108156901ns10:Director12023-08-012024-07-3108156901ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3108156901ns10:SmallEntities2023-08-012024-07-3108156901ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3108156901ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3108156901ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3108156901ns10:FullAccounts2023-08-012024-07-3108156901ns10:RegisteredOffice2023-08-012024-07-3108156901ns5:CurrentFinancialInstruments2024-07-3108156901ns5:CurrentFinancialInstruments2023-07-3108156901ns5:Non-currentFinancialInstruments2024-07-3108156901ns5:Non-currentFinancialInstruments2023-07-3108156901ns5:ShareCapital2024-07-3108156901ns5:ShareCapital2023-07-3108156901ns5:RetainedEarningsAccumulatedLosses2024-07-3108156901ns5:RetainedEarningsAccumulatedLosses2023-07-3108156901ns5:PlantMachinery2023-08-012024-07-3108156901ns5:FurnitureFittings2023-08-012024-07-3108156901ns5:MotorVehicles2023-08-012024-07-3108156901ns5:ComputerEquipment2023-08-012024-07-3108156901ns5:PlantMachinery2023-07-3108156901ns5:PlantMachinery2024-07-3108156901ns5:PlantMachinery2023-07-3108156901ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3108156901ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31
REGISTERED NUMBER: 08156901 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

INDUSTRIAL PRODUCTS ONLINE LIMITED

INDUSTRIAL PRODUCTS ONLINE LIMITED (REGISTERED NUMBER: 08156901)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


INDUSTRIAL PRODUCTS ONLINE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: G M K Robinson





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 08156901 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

INDUSTRIAL PRODUCTS ONLINE LIMITED (REGISTERED NUMBER: 08156901)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 4,487 5,441

CURRENT ASSETS
Debtors 5 98,803 232,128
Cash at bank 431,265 286,536
530,068 518,664
CREDITORS
Amounts falling due within one year 6 426,331 427,812
NET CURRENT ASSETS 103,737 90,852
TOTAL ASSETS LESS CURRENT
LIABILITIES

108,224

96,293

CREDITORS
Amounts falling due after more than one
year

7

-

9,533
NET ASSETS 108,224 86,760

CAPITAL AND RESERVES
Called up and paid share capital 101 100
Retained earnings 108,123 86,660
SHAREHOLDERS' FUNDS 108,224 86,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

INDUSTRIAL PRODUCTS ONLINE LIMITED (REGISTERED NUMBER: 08156901)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 April 2025 and were signed by:





G M K Robinson - Director


INDUSTRIAL PRODUCTS ONLINE LIMITED (REGISTERED NUMBER: 08156901)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Industrial Products Online Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


INDUSTRIAL PRODUCTS ONLINE LIMITED (REGISTERED NUMBER: 08156901)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 65,442
Additions 2,046
At 31 July 2024 67,488
DEPRECIATION
At 1 August 2023 60,001
Charge for year 3,000
At 31 July 2024 63,001
NET BOOK VALUE
At 31 July 2024 4,487
At 31 July 2023 5,441

INDUSTRIAL PRODUCTS ONLINE LIMITED (REGISTERED NUMBER: 08156901)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 98,342 139,926
Other debtors 461 92,202
98,803 232,128

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 5,218
Trade creditors 207,810 168,915
Taxation and social security 83,653 77,903
Other creditors 134,868 175,776
426,331 427,812

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 9,533

8. RELATED PARTY DISCLOSURES

Amounts included in other creditors totalling £7,278 (2023 - £7,278) are due to a company controlled by the director.