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 2019

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

1,280

1,707

CURRENT ASSETS

Stocks

4

29,033

55,143

Debtors

5

43,205

52,417

Cash at bank and in hand

202,998

259,757

275,236

367,317

CREDITORS

Amounts falling due within one year

6

12,772

37,695

NET CURRENT ASSETS

262,464

329,622

TOTAL ASSETS LESS CURRENT LIABILITIES

263,744

331,329

PROVISIONS FOR LIABILITIES

256

153

NET ASSETS

263,488

331,176

CAPITAL AND RESERVES

Called up share capital

25

25

Capital redemption reserve

75

75

Retained earnings

263,388

331,076

263,488

331,176

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 1 December 2020 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 (2018 - 4 ) .

3.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 January 2019

and 31 December 2019

9,912

DEPRECIATION

At 1 January 2019

8,205

Charge for year

427

At 31 December 2019

8,632

NET BOOK VALUE

At 31 December 2019

1,280

At 31 December 2018

1,707

4.

STOCKS

31.12.19

31.12.18

£

£

Stocks

29,033

55,143

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

41,742

41,278

Vat recoverable

1,463

11,050

Other debtors

-

89

43,205

52,417

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

6,214

26,059

Social security and other taxes

4,158

9,386

Accruals

2,400

1,250

Accrued expenses

-

1,000

12,772

37,695

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.