Interactive Manufacturing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04962639 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Interactive Manufacturing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S R Beard

REGISTERED OFFICE:

Unit 28

Joseph Wilson Industrial Estate

Millstrood Road

Whitstable

Kent

CT5 3PS

REGISTERED NUMBER:

04962639 (England and Wales)

ACCOUNTANTS:

NSO Associates LLP

75 Springfield Road

Chelmsford

Essex

CM2 6JB

FIXED ASSETS

64,231

Tangible assets

4

68,698

CURRENT ASSETS

54,473

Debtors

5

96,017

78,477

Cash at bank

8,091

132,950

104,108

CREDITORS

256,150

Amounts falling due within one year

6

181,443

(123,200

)

NET CURRENT LIABILITIES

(77,335

)

(58,969

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(8,637

)

9,074

PROVISIONS FOR LIABILITIES

7,789

(68,043

)

NET LIABILITIES

(16,426

)

CAPITAL AND RESERVES

12

Called up share capital

12

(68,055

)

Retained earnings

(16,438

)

(68,043

)

SHAREHOLDERS' FUNDS

(16,426

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 30 December 2020 and were signed by:

S R Beard - Director

1.	STATUTORY INFORMATION

Interactive Manufacturing 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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

-

25% on reducing balance, 20% on reducing balance and over the lease term

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 NIL (2019 - 5 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

128,722

Additions

24,615

At 31 March 2020

153,337

DEPRECIATION

At 1 April 2019

64,491

Charge for year

20,148

At 31 March 2020

84,639

NET BOOK VALUE

At 31 March 2020

68,698

At 31 March 2019

64,231

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

76,017

39,365

Other debtors

20,000

15,108

96,017

54,473

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

26,756

15,883

Trade creditors

99,571

211,838

Taxation and social security

48,795

15,851

Other creditors

6,321

12,578

181,443

256,150

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

S R Beard

Balance outstanding at start of year

-

-

Amounts advanced

11,666

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

11,666

-

8.	POST BALANCE SHEET EVENTS

No events have occurred since the date of the Balance Sheet which need to be brought to the attention of the shareholders or creditors.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S R Beard.

10.	GOING CONCERN

At 31 March 2020 the company had a net deficiency of assets of £16,426 (31 March 2019 - £68,243). The director has undertaken to support the company financially until the situation has been fully redressed. It is therefore deemed appropriate to prepare the financial statements on the going concern basis.