In-Store Initiatives Limited - Accounts to registrar (filleted) - small 23.2.5

In-Store Initiatives Limited - Accounts to registrar (filleted) - small 23.2.5


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REGISTERED NUMBER: 05445516 (England and Wales)















IN-STORE INITIATIVES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023






IN-STORE INITIATIVES LIMITED (REGISTERED NUMBER: 05445516)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IN-STORE INITIATIVES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: S C Ogle





SECRETARY: Mrs E L Ogle





REGISTERED OFFICE: Alma Park Woodway Lane
Claybrooke Parva
Lutterworth
Leicestershire
LE17 5FB





REGISTERED NUMBER: 05445516 (England and Wales)





ACCOUNTANTS: Sephton & Company LLP
Chartered Certified Accountants
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

IN-STORE INITIATIVES LIMITED (REGISTERED NUMBER: 05445516)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,238 50,522

CURRENT ASSETS
Debtors 5 2,935,479 2,543,949
Cash at bank and in hand 1,615,358 1,568,877
4,550,837 4,112,826
CREDITORS
Amounts falling due within one year 6 3,170,602 2,223,512
NET CURRENT ASSETS 1,380,235 1,889,314
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,431,473

1,939,836

CREDITORS
Amounts falling due after more than one
year

7

-

(4,853

)

PROVISIONS FOR LIABILITIES (6,508 ) (5,504 )
NET ASSETS 1,424,965 1,929,479

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,424,865 1,929,379
SHAREHOLDERS' FUNDS 1,424,965 1,929,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

IN-STORE INITIATIVES LIMITED (REGISTERED NUMBER: 05445516)

BALANCE SHEET - continued
31 JULY 2023


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 February 2024 and were signed by:





S C Ogle - Director


IN-STORE INITIATIVES LIMITED (REGISTERED NUMBER: 05445516)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

In-Store Initiatives 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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.

IN-STORE INITIATIVES LIMITED (REGISTERED NUMBER: 05445516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 19,743 41,999 44,139 105,881
Additions 10,670 - 9,889 20,559
At 31 July 2023 30,413 41,999 54,028 126,440
DEPRECIATION
At 1 August 2022 5,167 20,935 29,257 55,359
Charge for year 5,047 5,265 9,531 19,843
At 31 July 2023 10,214 26,200 38,788 75,202
NET BOOK VALUE
At 31 July 2023 20,199 15,799 15,240 51,238
At 31 July 2022 14,576 21,064 14,882 50,522

IN-STORE INITIATIVES LIMITED (REGISTERED NUMBER: 05445516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022
and 31 July 2023 41,999
DEPRECIATION
At 1 August 2022 20,935
Charge for year 5,265
At 31 July 2023 26,200
NET BOOK VALUE
At 31 July 2023 15,799
At 31 July 2022 21,064

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,840,644 2,345,555
Other debtors 94,835 198,394
2,935,479 2,543,949

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 5,219 12,037
Trade creditors 972,972 1,507,825
Amounts owed to group undertakings 1,000,000 -
Taxation and social security 401,159 324,389
Other creditors 791,252 379,261
3,170,602 2,223,512

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) - 4,853

IN-STORE INITIATIVES LIMITED (REGISTERED NUMBER: 05445516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 5,219 12,037
Between one and five years - 4,853
5,219 16,890

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 74,453
Between one and five years - 114,098
- 188,551

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 5,219 16,890