REGISTERED NUMBER: 08601131 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2024

for

INERTAS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Stuart Ian Baillie

REGISTERED OFFICE:

SUITE 4102 CHARLOTTE HOUSE

QUEENS DOCK BUSINESS CENTRE

LIVERPOOL

Merseyside

L1 0BG

REGISTERED NUMBER:

08601131 (England and Wales)

ACCOUNTANTS:

DBS Corporate Accountants

Suite 4102, Charlotte House

Queens Dock Business Centre

67-83 Norfolk Street

Liverpool

Merseyside

L1 0BG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

51,698

13,624

51,698

13,624

CURRENT ASSETS

Stocks

24,159

41,293

Debtors

6

59,593

111,523

Cash at bank and in hand

5,696

101,544

89,448

254,360

CREDITORS

Amounts falling due within one year

7

106,681

148,530

NET CURRENT (LIABILITIES)/ASSETS

(17,233

)

105,830

TOTAL ASSETS LESS CURRENT LIABILITIES

34,465

119,454

CREDITORS

Amounts falling due after more than one year

8

(26,516

)

(38,081

)

PROVISIONS FOR LIABILITIES

(3,024

)

(2,589

)

NET ASSETS

4,925

78,784

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,825

78,684

4,925

78,784

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.

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 director and authorised for issue on 7 October 2025 and were signed by:

Mr Stuart Ian Baillie - Director

1.	STATUTORY INFORMATION

INERTAS 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.

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 amounts derived from the services provided by the company falling within its ordinary activities, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2023

and 31 July 2024

8,000

AMORTISATION

At 1 August 2023

and 31 July 2024

8,000

NET BOOK VALUE

At 31 July 2024

-

At 31 July 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2023

23,773

Additions

42,903

At 31 July 2024

66,676

DEPRECIATION

At 1 August 2023

10,149

Charge for year

4,829

At 31 July 2024

14,978

NET BOOK VALUE

At 31 July 2024

51,698

At 31 July 2023

13,624

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade debtors

24,235

37,969

Other debtors

35,358

73,554

59,593

111,523

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Bank loans and overdrafts

34,911

10,871

Trade creditors

24,620

9,327

Taxation and social security

10,904

19,684

Other creditors

36,246

108,648

106,681

148,530

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.24

31.7.23

£

£

Bank loans

26,516

38,081