Inscape Interiors Limited - Accounts to registrar (filleted) - small 18.2
Inscape Interiors Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2020 |
| for |
| INSCAPE INTERIORS LIMITED |
| INSCAPE INTERIORS LIMITED (REGISTERED NUMBER: 04367304) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| INSCAPE INTERIORS LIMITED |
| Company Information |
| for the Year Ended 31 March 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Old Tannery |
| Eastgate |
| Accrington |
| Lancashire |
| BB5 6PW |
| INSCAPE INTERIORS LIMITED (REGISTERED NUMBER: 04367304) |
| Balance Sheet |
| 31 March 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| INSCAPE INTERIORS LIMITED (REGISTERED NUMBER: 04367304) |
| Balance Sheet - continued |
| 31 March 2020 |
| 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 were signed on its behalf by: |
| INSCAPE INTERIORS LIMITED (REGISTERED NUMBER: 04367304) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2020 |
| 1. | STATUTORY INFORMATION |
| Inscape Interiors Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the value of goods sold and services provided, excluding value added tax, for which the |
| right to consideration has been obtained. |
| 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 |
| Plant and machinery | - |
| Website | - |
| Motor vehicles | - |
| Equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Finished goods are valued at selling price. |
| 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. |
| INSCAPE INTERIORS LIMITED (REGISTERED NUMBER: 04367304) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 3. | ACCOUNTING POLICIES - continued |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
| leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
| element of the future payments is treated as a liability. |
| 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. |
| Grants |
| Grants received towards the cost of tangible fixed assets are recognised in the profit and loss account over the |
| assets useful economic life. The amount not yet credited to the profit and loss account is included in accruals |
| and deferred income. Grants towards revenue expenditure are released to the profit and loss account as the |
| related expenditure is incurred. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 April 2019 |
| and 31 March 2020 |
| AMORTISATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| INSCAPE INTERIORS LIMITED (REGISTERED NUMBER: 04367304) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 6. | TANGIBLE FIXED ASSETS |
| Plant and | Motor |
| machinery | Website | vehicles | Equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2019 |
| Disposals | ( |
) | ( |
) |
| Transfer to ownership | (113,307 | ) | - | (9,251 | ) | (122,558 | ) |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| Transfer to ownership | (139,771 | ) | - | (6,621 | ) | (146,392 | ) |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| INSCAPE INTERIORS LIMITED (REGISTERED NUMBER: 04367304) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts | 124,164 | 183,950 |
| The hire purchase agreements are secured against the assets to which they relate. |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the year ended 31 March 2020 and the period |
| ended 31 March 2019: |
| 2020 | 2019 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| INSCAPE INTERIORS LIMITED (REGISTERED NUMBER: 04367304) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 12. | RELATED PARTY DISCLOSURES |
| During the year the company bought software from Inscape Washrooms & Cubicles Limited, a company under |
| the control of W P Mills for £50,000 plus vat. |
| 13. | POST BALANCE SHEET EVENTS |
| Impact of Coronavirus |
| Since the year end the company's operations have been affected by COVID -19. The directors took steps to |
| mitigate the effect by making use of the Coronavirus Job Retention Scheme. Subsequently, sales have recovered |
| well and this combined with the cash reserves allows the directors to be confident there has been no impact on |
| the going concern assumption, carrying values of assets and liabilities. |