Company registration number:
03500602
International Distributors Limited
Unaudited filleted abridged financial statements
30 June 2024
International Distributors Limited
Contents
Directors and other information
Abridged statement of financial position
Notes to the financial statements
International Distributors Limited
Directors and other information
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Director |
Mr. Ramesh Parekh |
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Company number |
03500602 |
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Registered office |
83 Cambridge Street |
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London |
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SW1V 4PS |
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International Distributors Limited
Abridged statement of financial position
30 June 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
415 |
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553 |
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_______ |
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_______ |
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415 |
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553 |
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Current assets |
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Stocks |
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6,250 |
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6,250 |
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Debtors |
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70,106 |
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61,041 |
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Cash at bank and in hand |
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759 |
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1,108 |
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_______ |
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_______ |
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77,115 |
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68,399 |
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Creditors: amounts falling due |
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within one year |
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(
34,582) |
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(
24,294) |
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_______ |
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_______ |
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Net current assets |
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42,533 |
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44,105 |
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_______ |
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Total assets less current liabilities |
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42,948 |
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44,658 |
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Creditors: amounts falling due |
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after more than one year |
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(
284,661) |
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(
263,675) |
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_______ |
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Net liabilities |
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(
241,713) |
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(
219,017) |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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5,000 |
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5,000 |
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Profit and loss account |
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(
246,713) |
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(
224,017) |
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_______ |
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Shareholders deficit |
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(
241,713) |
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(
219,017) |
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_______ |
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_______ |
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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.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
30 May 2025
, and are signed on behalf of the board by:
Mr. Ramesh Parekh
Director
Company registration number:
03500602
International Distributors Limited
Notes to the financial statements
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 83 Cambridge Street, London, SW1V 4PS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.Current 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 balance sheet date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fittings fixtures and equipment |
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25 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Financial instruments
The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
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5.
Tangible assets
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£ |
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Cost |
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At 1 July 2023 and 30 June 2024 |
11,251 |
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Depreciation |
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At 1 July 2023 |
10,698 |
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Charge for the year |
138 |
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At 30 June 2024 |
10,836 |
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Carrying amount |
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At 30 June 2024 |
415 |
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_______ |
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At 30 June 2023 |
553 |
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_______ |
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6.
Controlling party
The company is under the control of G Sampson and the director R Parekh, who own 100% of the issued share capital.