Instant Availability Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06026432 (England and Wales)

Financial Statements

for the Year Ended 31 May 2021

for

INSTANT AVAILABILITY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R I Kelt

L Hayes

REGISTERED OFFICE:

Moderna Business Park

Unit 17A

Mytholmroyd

West Yorkshire

HX7 5QQ

REGISTERED NUMBER:

06026432 (England and Wales)

ACCOUNTANTS:

Rawse, Varley & Co

Chartered Accountants

Lloyds Bank Chambers

Hustlergate

Bradford

BD1 1UQ

FIXED ASSETS

Tangible assets

4

2,382

109

CURRENT ASSETS

Debtors

5

42,138

96,376

Cash at bank

65,205

11,430

107,343

107,806

CREDITORS

Amounts falling due within one year

6

31,592

43,156

NET CURRENT ASSETS

75,751

64,650

TOTAL ASSETS LESS CURRENT LIABILITIES

78,133

64,759

CREDITORS

Amounts falling due after more than one year

7

163,908

163,908

NET LIABILITIES

(85,775

)

(99,149

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

(85,875

)

(99,249

)

SHAREHOLDERS' FUNDS

(85,775

)

(99,149

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 25 February 2022 and were signed on its behalf by:

R I Kelt - Director

L Hayes - Director

1.	STATUTORY INFORMATION

Instant Availability 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.	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 represents the invoiced amount of goods sold and services provided exclusive of value added tax. In the case of service contracts income is recognised in the profit and loss account on a time apportionment basis, the proportion of contract income unexpired at the balance sheet date being deferred to the following period in order to match more closely the services provided.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation.

Depreciation is calculated to write off the cost less the estimated residual value of the assets over their expected useful lives at the following annual rates:

Improvements to rented property - 10% of cost

Fixtures, fittings and equipment - 20% of cost

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 June 2020

29,010

68,619

97,629

Additions

-

2,910

2,910

At 31 May 2021

29,010

71,529

100,539

DEPRECIATION

At 1 June 2020

29,010

68,510

97,520

Charge for year

-

637

637

At 31 May 2021

29,010

69,147

98,157

NET BOOK VALUE

At 31 May 2021

-

2,382

2,382

At 31 May 2020

-

109

109

5.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

4,257

55,358

Prepayments and accrued income

24,610

24,610

28,867

79,968

Amounts falling due after more than one year:

Deferred tax asset

13,271

16,408

Aggregate amounts

42,138

96,376

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

18,079

15,185

Social security and other taxes

67

3,269

Accruals and deferred income

13,446

24,702

31,592

43,156

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Directors' loan accounts

163,908

163,908

Directors' loans are interest free and repayable at option of the lenders by giving one year and one day's notice, at any time.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 June 2020

(99,249

)

Profit for the year

13,374

At 31 May 2021

(85,875

)

10.	GOING CONCERN

The company meets its day to day working capital requirements through loans from its directors. The directors have considered the likely working capital requirements for the period ending twelve months from the date of approval of these accounts and concluded that the company should have access to adequate resources to enable a continuation of the company's business. These views are based on the company's plans and a reasonable expectation of future income. Whilst there is no certainty in these matters, the directors consider it appropriate to prepare the accounts on the going concern basis.