Ince Developments LTD - Accounts to registrar (filleted) - small 18.2
Ince Developments LTD - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th September 2021 |
for |
Ince Developments LTD |
Ince Developments LTD (Registered number: 10348092) |
Contents of the Financial Statements |
for the Year Ended 30th September 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Ince Developments LTD |
Company Information |
for the Year Ended 30th September 2021 |
DIRECTORS: |
SECRETARIES: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
May Cottage |
Ashfield Road |
Norton |
Bury St Edmunds |
Suffolk |
IP31 3NF |
Ince Developments LTD (Registered number: 10348092) |
Balance Sheet |
30th September 2021 |
30.9.21 | 30.9.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
Ince Developments LTD (Registered number: 10348092) |
Balance Sheet - continued |
30th September 2021 |
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 |
Ince Developments LTD (Registered number: 10348092) |
Notes to the Financial Statements |
for the Year Ended 30th September 2021 |
1. | STATUTORY INFORMATION |
Ince Developments LTD is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Government grants |
Government grants are recognised at the fair value of the asset received or receivable. Grants are not |
recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received. |
Government grants are recognised using the accrual model and the performance model. |
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. |
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. |
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. |
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. |
Ince Developments LTD (Registered number: 10348092) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2021 |
2. | 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. |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st October 2020 |
Additions |
Disposals | ( |
) | ( |
) |
At 30th September 2021 |
DEPRECIATION |
At 1st October 2020 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30th September 2021 |
NET BOOK VALUE |
At 30th September 2021 |
At 30th September 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
Ince Developments LTD (Registered number: 10348092) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2021 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Bank loans (see note 8) |
8. | LOANS |
The company has one term loan outstanding, which is a Bounce Back loan amounting to £46,662 (2020: 50,000). This was interest and capital free for 12 months to June 21. Included in creditors due after more than one year is an amount of £36,528 which is repayable by installments which fall due for payment after more than one year from the reporting date. |