Interface Technologies Europe Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05645422 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

INTERFACE TECHNOLOGIES EUROPE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P E Pryke

SECRETARY:

Mrs H E Pryke

REGISTERED OFFICE:

Unit 12 Manfield Park

Guildford Road

Cranleigh

Surrey

GU6 8PT

REGISTERED NUMBER:

05645422 (England and Wales)

ACCOUNTANTS:

A & N (Haslemere) Limited

Aruna House

2 Kings Road

Haslemere

Surrey

GU27 2QA

FIXED ASSETS

Tangible assets

3

1,707

1,072

CURRENT ASSETS

Stocks

4

55,143

40,390

Debtors

5

52,417

159,042

Cash at bank and in hand

259,757

58,113

367,317

257,545

CREDITORS

Amounts falling due within one year

6

37,695

41,097

NET CURRENT ASSETS

329,622

216,448

TOTAL ASSETS LESS CURRENT LIABILITIES

331,329

217,520

PROVISIONS FOR LIABILITIES

153

-

NET ASSETS

331,176

217,520

CAPITAL AND RESERVES

Called up share capital

25

25

Capital redemption reserve

75

75

Retained earnings

331,076

217,420

331,176

217,520

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 24 September 2019 and were signed by:

P E Pryke - Director

1.	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.

Tangible fixed assets

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

Office equipment

-

25% on reducing balance

Stocks

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

items.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

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.

Research & development

The company's intention is to carry out work on innovative design on hardware and processes related to the company's

principal activity.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

3.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 January 2018

8,708

Additions

1,204

At 31 December 2018

9,912

DEPRECIATION

At 1 January 2018

7,636

Charge for year

569

At 31 December 2018

8,205

NET BOOK VALUE

At 31 December 2018

1,707

At 31 December 2017

1,072

4.

STOCKS

31.12.18

31.12.17

£

£

Stocks

55,143

40,390

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

41,278

122,912

Vat recoverable

11,050

12,674

Other debtors

89

23,456

52,417

159,042

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

26,059

28,099

Social security and other taxes

9,386

4,248

Accruals

1,250

8,750

Accrued expenses

1,000

-

37,695

41,097

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

All transactions with the directors have been included in their directors' loan accounts.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is P E Pryke.