Independent Fitters Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 07262844 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2016

for

Independent Fitters Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

S R Blackshaw

A D Davies

REGISTERED OFFICE:

138 Stockport Road

Marple

Stockport

SK6 6DQ

REGISTERED NUMBER:

07262844 (England and Wales)

ACCOUNTANTS:

IN Accountancy Limited

6 Station View

Bramhall Moor Lane

Hazel Grove

Stockport

Cheshire

SK7 5ER

FIXED ASSETS

Intangible assets

4

9,500

9,500

Tangible assets

5

3

3

9,503

9,503

CURRENT ASSETS

Stocks

6,000

14,389

Debtors

6

446

4,770

Cash at bank

5,024

-

11,470

19,159

CREDITORS

Amounts falling due within one year

7

14,197

22,044

NET CURRENT LIABILITIES

(2,727

)

(2,885

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,776

6,618

CREDITORS

Amounts falling due after more than one year

8

12,000

-

NET (LIABILITIES)/ASSETS

(5,224

)

6,618

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(5,324

)

6,518

SHAREHOLDERS' FUNDS

(5,224

)

6,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 3 April 2017 and were signed on its behalf by:

S R Blackshaw - Director

1.	STATUTORY INFORMATION

Independent Fitters 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Goodwill

Goodwill has not been amortised.

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 machinery

-

20% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2015

and 31 May 2016

9,500

NET BOOK VALUE

At 31 May 2016

9,500

At 31 May 2015

9,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 June 2015

and 31 May 2016

4,218

DEPRECIATION

At 1 June 2015

and 31 May 2016

4,215

NET BOOK VALUE

At 31 May 2016

3

At 31 May 2015

3

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.16

31.5.15

£

£

Trade debtors

-

4,770

VAT

446

-

446

4,770

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.16

31.5.15

£

£

Bank loans and overdrafts (see note 9)

5,062

5,626

Trade creditors

6,111

10,449

Corporation tax

814

2,337

Social security and other taxes

-

(212

)

Other creditors

-

3,844

Directors' loan accounts

410

-

Accrued expenses

1,800

-

14,197

22,044

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.16

31.5.15

£

£

Bank loans (see note 9)

12,000

-

9.

LOANS

An analysis of the maturity of loans is given below:

31.5.16

31.5.15

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

1,062

5,626

Bank loans

4,000

-

5,062

5,626

Amounts falling due between two and five years:

Bank loans - 2-5 years

12,000

-

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £15,000 were paid to the directors .

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S R Blackshaw.