Intrasource Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03916612 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2021

for

Intrasource Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D J Collings

Mr M S Nunns

REGISTERED OFFICE:

Redcliff Court

Redcliff Road

Hessle

East Riding

HU13 0EY

REGISTERED NUMBER:

03916612 (England and Wales)

ACCOUNTANTS:

360 Accountants Limited

18-19 Albion Street

Hull

East Yorkshire

HU1 3TG

BANKERS:

Barclays Bank

1/5 King Edward Street

Hull

East Yorkshire

HU1 3RL

FIXED ASSETS

Tangible assets

5

46,165

31,655

CURRENT ASSETS

Stocks

16,015

13,411

Debtors

169,392

136,818

Cash at bank and in hand

79,256

75,261

264,663

225,490

CREDITORS

Amounts falling due within one year

208,652

200,983

NET CURRENT ASSETS

56,011

24,507

TOTAL ASSETS LESS CURRENT LIABILITIES

102,176

56,162

CAPITAL AND RESERVES

Called up share capital

6

1,010

1,010

Retained earnings

101,166

55,152

SHAREHOLDERS' FUNDS

102,176

56,162

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 7 February 2022 and were signed on its behalf by:

Mr D J Collings - Director

1.	STATUTORY INFORMATION

Intrasource 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of products and services, excluding value added tax.

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 equipment

-

33% on cost

Motor vehicles

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current 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 taxation assets and liabilities are not discounted.

Current tax is recognised as the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2020 - 13 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2020

211,688

Additions

30,087

At 31 August 2021

241,775

DEPRECIATION

At 1 September 2020

180,033

Charge for year

15,577

At 31 August 2021

195,610

NET BOOK VALUE

At 31 August 2021

46,165

At 31 August 2020

31,655

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/21

31/8/20

value:

£

£

1,010

Ordinary

£1

1,010

1,010

7.	ULTIMATE CONTROLLING PARTY

At the balance sheet date the company was controlled by Mr DJ Collings.

8.	ULTIMATE PARENT COMPANY

The ultimate parent company is Intrasource Holdings Limited, a company registered in England and Wales.