Company Registration No. 09438347 (England and Wales)
IGS Interiors Limited
Unaudited accounts
for the year ended 31 March 2018
IGS Interiors Limited
Unaudited accounts
Contents
IGS Interiors Limited
Company Information
for the year ended 31 March 2018
Director
Mr James Smithers
Company Number
09438347 (England and Wales)
Registered Office
3 Greystones Road
Bearsted
Maidstone
Kent
ME15 8PD
Accountants
Rustrick Accountants Limited
3 Greystones Road
Bearsted
Maidstone
Kent
ME15 8PD
IGS Interiors Limited
Statement of financial position
as at 31 March 2018
Tangible assets
61,215
3,143
Inventories
108,495
15,100
Cash at bank and in hand
315,654
266,908
Creditors: amounts falling due within one year
(530,479)
(464,833)
Net current assets
84,047
103,355
Total assets less current liabilities
145,262
106,498
Provisions for liabilities
Net assets
144,411
105,869
Called up share capital
1
1
Profit and loss account
144,410
105,868
Shareholders' funds
144,411
105,869
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 19 December 2018.
Mr James Smithers
Director
Company Registration No. 09438347
IGS Interiors Limited
Notes to the Accounts
for the year ended 31 March 2018
IGS Interiors Limited is a private company, limited by shares, registered in England and Wales, registration number 09438347. The registered office is 3 Greystones Road, Bearsted, Maidstone, Kent, ME15 8PD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
25% reducing balance
IGS Interiors Limited
Notes to the Accounts
for the year ended 31 March 2018
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2017
-
-
5,066
5,066
Additions
738
75,950
1,791
78,479
At 31 March 2018
738
75,950
6,857
83,545
At 1 April 2017
-
-
1,923
1,923
Charge for the year
185
18,988
1,234
20,407
At 31 March 2018
185
18,988
3,157
22,330
At 31 March 2018
553
56,962
3,700
61,215
At 31 March 2017
-
-
3,143
3,143
Work in progress
108,495
15,100
Trade debtors
160,320
158,051
Other debtors
30,057
128,129
7
Creditors: amounts falling due within one year
2018
2017
Obligations under finance leases and hire purchase contracts
49,361
-
Trade creditors
339,265
103,311
Taxes and social security
100,079
256,419
Loans from directors
341
1,423
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
IGS Interiors Limited
Notes to the Accounts
for the year ended 31 March 2018
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan with director
1,423
-
1,082
341
James Smithers is the ultimate controller by virtue of his 100% shareholding
11
Average number of employees
During the year the average number of employees was 14 (2017: 14).
