Integrated Ductwork Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10423085 (England and Wales)

Financial Statements

for the Year Ended 31 October 2018

for

Integrated Ductwork Solutions Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A T Gannon

REGISTERED OFFICE:

Third Floor

Granite Buildings

6 Stanley Street

Liverpool

Merseyside

L1 6AF

REGISTERED NUMBER:

10423085 (England and Wales)

ACCOUNTANTS:

Sloan & Co.

Chartered Certified Accountants

Granite Buildings

6 Stanley Street

Liverpool

Merseyside

L1 6AF

FIXED ASSETS

Tangible assets

4

44,059

58,379

CURRENT ASSETS

Stocks

970

1,860

Debtors

63,635

13,368

Cash at bank

4,266

34,186

68,871

49,414

CREDITORS

Amounts falling due within one year

84,319

54,080

NET CURRENT LIABILITIES

(15,448

)

(4,666

)

TOTAL ASSETS LESS CURRENT LIABILITIES

28,611

53,713

CREDITORS

Amounts falling due after more than one year

25,200

42,000

NET ASSETS

3,411

11,713

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

3,410

11,712

SHAREHOLDERS' FUNDS

3,411

11,713

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 30 July 2019 and were signed by:

A T Gannon - Director

1.	STATUTORY INFORMATION

Integrated Ductwork Solutions 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.

The company`s current liabilities exceed its current assets by £15,448. In view of the known income stream for the

forthcoming twelve months the Director considers it appropriate to prepare these financial statements on the going concern

basis.

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

-

20% on cost

Stocks

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

items.

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 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2017

and 31 October 2018

71,599

DEPRECIATION

At 1 November 2017

13,220

Charge for year

14,320

At 31 October 2018

27,540

NET BOOK VALUE

At 31 October 2018

44,059

At 31 October 2017

58,379