REGISTERED NUMBER: 08392012 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

IRONMONGERY INNOVATIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A McEldon

R K Nicholls

REGISTERED OFFICE:

Second Floor South

The Fitted Rigging House

Anchor Wharf, The Historic Dockyard

Chatham

Kent

ME4 4TZ

REGISTERED NUMBER:

08392012 (England and Wales)

ACCOUNTANTS:

Carleys

Second Floor South

The Fitted Rigging House

The Historic Dockyard

Chatham

Kent

ME4 4TZ

FIXED ASSETS

Tangible assets

4

137,581

51,672

CURRENT ASSETS

Stocks

162,027

159,685

Debtors

5

812,469

1,014,429

Cash at bank and in hand

439,989

411,578

1,414,485

1,585,692

CREDITORS

Amounts falling due within one year

6

(346,064

)

(531,087

)

NET CURRENT ASSETS

1,068,421

1,054,605

TOTAL ASSETS LESS CURRENT LIABILITIES

1,206,002

1,106,277

CREDITORS

Amounts falling due after more than one year

7

(94,189

)

(26,546

)

PROVISIONS FOR LIABILITIES

(8,484

)

(12,918

)

NET ASSETS

1,103,329

1,066,813

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

1,102,329

1,065,813

SHAREHOLDERS' FUNDS

1,103,329

1,066,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2025 and were signed on its behalf by:

M A McEldon - Director

1.	STATUTORY INFORMATION

Ironmongery Innovations 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 etc

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net estimated selling price less selling costs. In determining the costs of goods purchased for sale, the first in, first out basis is used.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Hire purchase and leasing commitments

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a ‘finance lease’. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments.

All other leases are accounted for as ‘operating leases’ and the rental charges are charged to the profit and loss account on a straight line basis over the life 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 8 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2024

9,124

102,575

111,699

Additions

-

110,601

110,601

At 28 February 2025

9,124

213,176

222,300

DEPRECIATION

At 1 March 2024

9,124

50,903

60,027

Charge for year

-

24,692

24,692

At 28 February 2025

9,124

75,595

84,719

NET BOOK VALUE

At 28 February 2025

-

137,581

137,581

At 29 February 2024

-

51,672

51,672

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

298,124

441,622

Other debtors

514,345

572,807

812,469

1,014,429

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

23,550

8,876

Trade creditors

132,519

308,570

Taxation and social security

111,387

149,484

Other creditors

78,608

64,157

346,064

531,087

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

94,189

26,546

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

585

Ordinary A

£1

585

585

350

Ordinary B

£1

350

350

65

Ordinary C

£1

65

65

1,000

1,000

9.	OTHER FINANCIAL COMMITMENTS

The company has financial commitments of £99,600.