Indoor Environmental Systems Limited 31/03/2022 iXBRL

INDOOR ENVIRONMENTAL SYSTEMS LIMITED - Company Information

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Company registration number: 7711235

Indoor Environmental Systems Limited

Unaudited filleted financial statements

31 March 2022

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	Unit 15
		The Courtyard
		Gorsey Lane
		Coleshill


	Business address	Unit 15
		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 2022

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 2022 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

11 August 2022

Indoor Environmental Systems Limited

Statement of financial position

31 March 2022

		2022		2021
	Note	£	£	£	£

Fixed assets
Tangible assets	5	37,444		24,792
		_______		_______
			37,444		24,792

Current assets
Debtors	6	384,239		237,666
Cash at bank and in hand		28,914		233,685
		_______		_______
		413,153		471,351
Creditors: amounts falling due
within one year	7	( 51,089)		( 99,035)
		_______		_______
Net current assets			362,064		372,316
			_______		_______
Total assets less current liabilities			399,508		397,108

Creditors: amounts falling due
after more than one year	8		( 25,196)		( 15,699)

Provisions for liabilities			( 7,114)		( 3,661)

			_______		_______
Net assets			367,198		377,748
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			367,098		377,648
			_______		_______
Shareholders funds			367,198		377,748
			_______		_______

For the year ending 31 March 2022 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 11 August 2022 , 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 2022

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 April 2020	100	406,349	406,449

Profit/(loss) for the year		( 201)	( 201)
	_______	_______	_______
Total comprehensive income for the year	-	( 201)	( 201)

Dividends paid and payable		( 28,500)	( 28,500)
	_______	_______	_______
Total investments by and distributions to owners	-	( 28,500)	( 28,500)

	_______	_______	_______
At 31 March 2021 and 1 April 2021	100	377,648	377,748

Profit/(loss) for the year		7,450	7,450
	_______	_______	_______
Total comprehensive income for the year	-	7,450	7,450

Dividends paid and payable		( 18,000)	( 18,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 18,000)	( 18,000)

	_______	_______	_______
At 31 March 2022	100	367,098	367,198
	_______	_______	_______

Indoor Environmental Systems Limited

Notes to the financial statements

Year ended 31 March 2022

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, Unit 15, 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'.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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.

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 company 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 company 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.

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. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

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 4 (2021: 5 ).

5. Tangible assets

	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2021	7,475	44,226	51,701
Additions	-	23,847	23,847
Disposals	-	( 17,406)	( 17,406)
	_______	_______	_______
At 31 March 2022	7,475	50,667	58,142
	_______	_______	_______
Depreciation
At 1 April 2021	7,475	19,434	26,909
Charge for the year	-	8,194	8,194
Disposals	-	( 14,405)	( 14,405)
	_______	_______	_______
At 31 March 2022	7,475	13,223	20,698
	_______	_______	_______
Carrying amount
At 31 March 2022	-	37,444	37,444
	_______	_______	_______
At 31 March 2021	-	24,792	24,792
	_______	_______	_______

6. Debtors

	2022	2021
	£	£
Trade debtors	365,520	231,878
Amounts owed by group undertakings and undertakings in which the company has a participating interest	9,916	5,688
Other debtors	8,803	100
	_______	_______
	384,239	237,666
	_______	_______

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	34,301	81,784
Corporation tax	-	( 1)
Social security and other taxes	7,582	13,034
Other creditors	9,206	4,218
	_______	_______
	51,089	99,035
	_______	_______

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Other creditors	25,196	15,699
	_______	_______

9. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2022	2021	2022	2021
	£	£	£	£
FMS Integrated Building Services Limited	-	-	9,916	5,688
	_______	_______	_______	_______

The company incurred costs of £8,21 (2021 £4,527) from FMS Integrated Building Services Limited.The company recharged costs of £77,558 (2021 £75,000) to FMS Integrated Buildiing Services Limited of which £258,192 (2021 £159,723) 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.