INFLOW (U.K.) LIMITED
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,837 9,106
Current assets
Stocks 57,699 65,816
Debtors 4 80,204 55,977
Cash at bank and in hand 215,716 198,459
353,619 320,252
Creditors: amounts falling due within one year 5 (171,534) (154,732)
Net current assets 182,085 165,520
Total assets less current liabilities 188,922 174,626
Provisions for liabilities (2,175) (2,175)
Net assets 186,747 172,451
Capital and reserves
Called up share capital 100 100
Profit and loss account 186,647 172,351
Shareholders' funds 186,747 172,451
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K.W. COPELAND
Director
Approved by the board on 2 July 2025
INFLOW (U.K.) LIMITED
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% reducing balance basis
Office fixtures, fittings and equipment 25% reducing balance basis
Motor vehicles 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Office fixtures and fittings etc. Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 22,383 78,769 11,520 112,672
At 31 October 2024 22,383 78,769 11,520 112,672
Depreciation
At 1 November 2023 20,832 72,079 10,655 103,566
Charge for the year 380 1,673 216 2,269
At 31 October 2024 21,212 73,752 10,871 105,835
Net book value
At 31 October 2024 1,171 5,017 649 6,837
At 31 October 2023 1,551 6,690 865 9,106
4 Debtors 2024 2023
£ £
Trade debtors 78,146 53,986
Prepayments 2,058 1,991
80,204 55,977
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 86,131 68,427
Corporation tax 22,715 23,918
Other taxes and social security costs 10,143 6,320
Directors' loan accounts 52,545 56,067
171,534 154,732
6 Contingent liabilities
There is a small contingent liability for remedial work in respect of contractual warranties which cannot be estimated. No such liabilities have been notified at the date of the directors' report.
7 Controlling party
The ultimate controlling parties of the company are Mr. K.W. Copeland and Mrs. P.J. Copeland, directors of the company, who own 51% and 29% respectively of the issued share capital.
8 Other information
INFLOW (U.K.) LIMITED is a private company limited by shares and incorporated in England (Company Number 02762222). Its registered office is Unit 1, Raleigh Hall Industrial Estate, Eccleshall, Staffs, ST21 6JL.
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