Indoor Environmental Systems Limited 31/03/2020 iXBRL

Indoor Environmental Systems Limited 31/03/2020 iXBRL

INDOOR ENVIRONMENTAL SYSTEMS LIMITED - Company Information

Print Friendly Version

6 31/03/2020 2020-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2019-04-01 Sage Accounts Production 20.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 7711235 2019-04-01 2020-03-31 7711235 2020-03-31 7711235 2019-03-31 7711235 2018-04-01 2019-03-31 7711235 2019-03-31 7711235 2018-03-31 7711235 core:FurnitureFittingsToolsEquipment 2019-04-01 2020-03-31 7711235 core:MotorVehicles 2019-04-01 2020-03-31 7711235 bus:RegisteredOffice 2019-04-01 2020-03-31 7711235 bus:LeadAgentIfApplicable 2019-04-01 2020-03-31 7711235 bus:Director1 2019-04-01 2020-03-31 7711235 bus:Director4 2019-04-01 2020-03-31 7711235 core:FurnitureFittingsToolsEquipment 2019-03-31 7711235 core:MotorVehicles 2019-03-31 7711235 core:FurnitureFittingsToolsEquipment 2020-03-31 7711235 core:MotorVehicles 2020-03-31 7711235 core:WithinOneYear 2020-03-31 7711235 core:WithinOneYear 2019-03-31 7711235 core:RetainedEarningsAccumulatedLosses 2018-04-01 2019-03-31 7711235 core:RetainedEarningsAccumulatedLosses 2019-04-01 2020-03-31 7711235 core:AfterOneYear 2020-03-31 7711235 core:AfterOneYear 2019-03-31 7711235 core:ShareCapital 2020-03-31 7711235 core:ShareCapital 2019-03-31 7711235 core:RetainedEarningsAccumulatedLosses 2020-03-31 7711235 core:RetainedEarningsAccumulatedLosses 2019-03-31 7711235 core:ShareCapital 2018-03-31 7711235 core:RetainedEarningsAccumulatedLosses 2018-03-31 7711235 core:FurnitureFittingsToolsEquipment 2019-03-31 7711235 core:MotorVehicles 2019-03-31 7711235 bus:SmallEntities 2019-04-01 2020-03-31 7711235 bus:AuditExemptWithAccountantsReport 2019-04-01 2020-03-31 7711235 bus:FullAccounts 2019-04-01 2020-03-31 7711235 bus:SmallCompaniesRegimeForAccounts 2019-04-01 2020-03-31 7711235 bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31 7711235 core:CloseFamilyMembersKeyManagementPersonnel 2020-03-31 7711235 core:CloseFamilyMembersKeyManagementPersonnel 2019-03-31
Company registration number: 7711235
Indoor Environmental Systems Limited
Unaudited filleted financial statements
31 March 2020
Indoor Environmental Systems Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Indoor Environmental Systems Limited
Directors and other information
Directors Mr Craig Mc Donald
Mr John Clarke
Company number 7711235
Registered office Norfolk House
The Courtyard
Gorsey Lane
Coleshill
Business address Norfolk House
The Courtyard
Gorsey Lane
Coleshill
B46 1JA
Accountants Lindley & Co
17 Millbrook Drive
Shenstone
Lichfield
Staffordshire
WS14 0JL
Indoor Environmental Systems Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Indoor Environmental Systems Limited
Year ended 31 March 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Indoor Environmental Systems Limited for the year ended 31 March 2020 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Indoor Environmental Systems Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Indoor Environmental Systems Limited and state those matters that we have agreed to state to the board of directors of Indoor Environmental Systems Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Indoor Environmental Systems Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Indoor Environmental Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Indoor Environmental Systems Limited. You consider that Indoor Environmental Systems Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Indoor Environmental Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lindley & Co
Chartered Certified Accountants
17 Millbrook Drive
Shenstone
Lichfield
Staffordshire
WS14 0JL
6 August 2020
Indoor Environmental Systems Limited
Statement of financial position
31 March 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 5 19,267 30,322
_______ _______
19,267 30,322
Current assets
Debtors 6 258,350 212,419
Cash at bank and in hand 225,411 282,265
_______ _______
483,761 494,684
Creditors: amounts falling due
within one year 7 ( 90,807) ( 152,314)
_______ _______
Net current assets 392,954 342,370
_______ _______
Total assets less current liabilities 412,221 372,692
Creditors: amounts falling due
after more than one year 8 ( 2,111) ( 12,186)
Provisions for liabilities ( 3,661) ( 5,761)
_______ _______
Net assets 406,449 354,745
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 406,349 354,645
_______ _______
Shareholders funds 406,449 354,745
_______ _______
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 August 2020 , and are signed on behalf of the board by:
Mr Craig Mc Donald
Director
Company registration number: 7711235
Indoor Environmental Systems Limited
Statement of changes in equity
Year ended 31 March 2020
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2018 100 248,041 248,141
Profit for the year 129,632 129,632
_______ _______ _______
Total comprehensive income for the year - 129,632 129,632
Dividends paid and payable ( 23,028) ( 23,028)
_______ _______ _______
Total investments by and distributions to owners - ( 23,028) ( 23,028)
_______ _______ _______
At 31 March 2019 and 1 April 2019 100 354,645 354,745
Profit for the year 63,704 63,704
_______ _______ _______
Total comprehensive income for the year - 63,704 63,704
Dividends paid and payable ( 12,000) ( 12,000)
_______ _______ _______
Total investments by and distributions to owners - ( 12,000) ( 12,000)
_______ _______ _______
At 31 March 2020 100 406,349 406,449
_______ _______ _______
Indoor Environmental Systems Limited
Notes to the financial statements
Year ended 31 March 2020
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Indoor Environmental Systems Limited, Norfolk House, The Courtyard, Gorsey Lane, Coleshill.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2019: 4 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2019 and 31 March 2020 7,475 38,244 45,719
_______ _______ _______
Depreciation
At 1 April 2019 4,485 10,912 15,397
Charge for the year 1,495 9,560 11,055
_______ _______ _______
At 31 March 2020 5,980 20,472 26,452
_______ _______ _______
Carrying amount
At 31 March 2020 1,495 17,772 19,267
_______ _______ _______
At 31 March 2019 2,990 27,332 30,322
_______ _______ _______
6. Debtors
2020 2019
£ £
Trade debtors 258,250 212,319
Other debtors 100 100
_______ _______
258,350 212,419
_______ _______
7. Creditors: amounts falling due within one year
2020 2019
£ £
Trade creditors 15,604 76,932
Amounts owed to group undertakings and undertakings in which the company has a participating interest 35,284 3,109
Corporation tax 17,068 28,656
Social security and other taxes 13,244 31,670
Other creditors 9,607 11,947
_______ _______
90,807 152,314
_______ _______
8. Creditors: amounts falling due after more than one year
2020 2019
£ £
Other creditors 2,111 12,186
_______ _______
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2020 2019 2020 2019
£ £ £ £
FMS Integrated Building Services Limited - - ( 35,284) ( 3,109)
_______ _______ _______ _______
The company incurred costs of £26,444 (2019 £60,035) from FMS Integrated Building Services Limited.The company recharged costs of £293,057 (2019 £162,496) to FMS Integrated Buildiing Services Limited of which £173,136 (2019 £143,248) remained within trade debtors at the year end. This company is connected by common director and shareholder, Mr Craig McDonald.
10. Controlling party
The company is under the control of Mr C Mc Donald, Mr J Clark and Miss D Palmer who together control 100% of the issued share capital.