Interface Technologies Europe Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05645422 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

INTERFACE TECHNOLOGIES EUROPE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P E Pryke

SECRETARY:

Mrs H E Pryke

REGISTERED OFFICE:

Unit 12 Manfield Park

Guildford Road

Cranleigh

Surrey

GU6 8PT

REGISTERED NUMBER:

05645422 (England and Wales)

ACCOUNTANTS:

A & N (Haslemere) Limited

Aruna House

2 Kings Road

Haslemere

Surrey

GU27 2QA

FIXED ASSETS

Tangible assets

3

17,512

22,790

CURRENT ASSETS

Stocks

4

16,693

18,677

Debtors

5

34,952

34,498

Cash at bank and in hand

183,177

179,232

234,822

232,407

CREDITORS

Amounts falling due within one year

6

12,795

18,262

NET CURRENT ASSETS

222,027

214,145

TOTAL ASSETS LESS CURRENT LIABILITIES

239,539

236,935

PROVISIONS FOR LIABILITIES

3,327

4,330

NET ASSETS

236,212

232,605

CAPITAL AND RESERVES

Called up share capital

25

25

Capital redemption reserve

75

75

Retained earnings

236,112

232,505

236,212

232,605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 22 August 2023 and were signed by:

P E Pryke - Director

1.	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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

25% on reducing balance

Stocks

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Research & development

The company's intention is to carry out work on innovative design on hardware and processes related to the company's principal activity.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 4 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

COST

At 1 January 2022

23,110

16,977

40,087

Additions

-

509

509

At 31 December 2022

23,110

17,486

40,596

DEPRECIATION

At 1 January 2022

5,778

11,519

17,297

Charge for year

4,333

1,454

5,787

At 31 December 2022

10,111

12,973

23,084

NET BOOK VALUE

At 31 December 2022

12,999

4,513

17,512

At 31 December 2021

17,332

5,458

22,790

4.

STOCKS

31.12.22

31.12.21

£

£

Stocks

16,693

18,677

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

30,031

31,657

Other debtors

4,714

-

VAT

-

2,841

Prepayments

207

-

34,952

34,498

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

4,550

11,760

Social security and other taxes

2,852

3,754

VAT

1,978

-

Other creditors

1,015

348

Accruals

2,400

2,400

12,795

18,262