Instant Design Limited - Period Ending 2021-07-31

Instant Design Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Unaudited Financial Statements	3 to 4

Instant Design Limited

Company Information

Directors

P S Jones T Jones

Registered office

130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Instant Design Limited

Statement of Financial Position as at 31 July 2021

	Note	2021 £	2020 £
Current assets
Debtors	4	-	507
Cash at bank and in hand		11	93
		11	600
Creditors: Amounts falling due within one year	5	(12,918)	(12,225)
Net liabilities		(12,907)	(11,625)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(13,007)	(11,725)
Shareholders' deficit		(12,907)	(11,625)

For the financial year ending 31 July 2021 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 28 April 2022 and signed on its behalf by:
 

.........................................

T Jones

Director

Company registration number: 01533082

Instant Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of consultancy and design work for publishers and other organisations.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company had net liabilities of £12,907 at 31 July 2021. At that date an amount of £12,225 was due to the directors who have confirmed that they will not call for repayment as such time as the company has sufficient working capital.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. These enquiries include having suitable plans in place to be able to cope with the significant uncertainties to the business caused by the COVID-19 pandemic. The company's operations are very straight forward with no fixed overheads.

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Instant Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company during the year, was 0 (2020 - 0).

4

Debtors

	2021 £	2020 £
Other debtors	-	507
	-	507

5

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Taxation and social security	94	-
Other creditors	12,824	12,225
	12,918	12,225