Ideal Envelopes Limited,Ltd - AccountsLtd - Accounts

Ideal Envelopes Limited,Ltd - AccountsLtd - Accounts

IDEAL ENVELOPES LIMITED - Company Information

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2019-02-01 06416057 2020-01-31 06416057 2019-02-01 2020-01-31 06416057 2019-01-31 06416057 2018-02-01 2019-01-31 06416057 uk-core:WithinOneYear 2019-01-31 06416057 uk-core:WithinOneYear 2020-01-31 06416057 uk-core:ShareCapital 2020-01-31 06416057 uk-core:ShareCapital 2019-01-31 06416057 uk-core:RetainedEarningsAccumulatedLosses 2020-01-31 06416057 uk-core:RetainedEarningsAccumulatedLosses 2019-01-31 06416057 uk-bus:Director1 2019-02-01 2020-01-31 06416057 uk-core:Buildings 2019-02-01 2020-01-31 06416057 uk-core:PlantMachinery 2019-02-01 2020-01-31 06416057 uk-core:ToolsEquipment 2019-02-01 2020-01-31 06416057 uk-core:FurnitureFittings 2019-02-01 2020-01-31 06416057 uk-core:ToolsEquipment 2019-01-31 06416057 uk-core:FurnitureFittings 2019-01-31 06416057 uk-core:PlantMachinery 2019-01-31 06416057 uk-core:Buildings 2019-01-31 06416057 uk-core:PlantMachinery 2020-01-31 06416057 uk-core:FurnitureFittings 2020-01-31 06416057 uk-core:ToolsEquipment 2020-01-31 06416057 uk-core:Buildings 2020-01-31 06416057 uk-core:WithinOneYear 2020-01-31 06416057 uk-core:WithinOneYear 2019-01-31 iso4217:GBP xbrli:pure 06416057 uk-bus:AuditExemptWithAccountantsReport 2019-02-01 2020-01-31 06416057 uk-bus:FRS102 2019-02-01 2020-01-31 06416057 uk-bus:FullAccounts 2019-02-01 2020-01-31 06416057 uk-bus:PrivateLimitedCompanyLtd 2019-02-01 2020-01-31
Ideal Envelopes Limited
Registered Number:06416057
For the year ended 31 January 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 31 January 2020
Ideal Envelopes Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 January 2020
Ideal Envelopes Limited
Statement of Financial Position
Registered Number :
06416057
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
38,005
40,135
2
38,005
40,135
Current assets
Inventories
42,650
41,500
3
Trade and other receivables
8,868
2,188
4
39,308
Cash and cash equivalents
24,504
68,192
90,826
Trade and other payables: amounts falling due within one
year
(119,069)
(87,610)
5
(28,243)
(19,418)
Net current liabilities
Total assets less current liabilities
18,587
11,892
(5,018)
(4,587)
Provisions for liabilities
13,569
Net assets
7,305
Capital and reserves
Called up share capital
100
100
Retained earnings
13,469
7,205
13,569
7,305
Shareholders' funds
For the year ended 31 January 2020 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 of its financial statements for the year ended 31 January 2020 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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 accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
A Jepson Director
These financial statements were approved and authorised for issue by the Board on 06 March 2020 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 January 2020
Ideal Envelopes Limited
Notes to the Financial Statements
Statutory Information
Ideal Envelopes Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 06416057.
Registered address:
Unit 2 Old Colliery Way
Beighton Link Business Park
Sheffield
South Yorkshire
S20 1DJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
15% Reducing balance
Plant and machinery
15% Reducing balance
15% Reducing balance
Computer equipment
15% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 4
5
For the year ended 31 January 2020
Ideal Envelopes Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Plant and
machinery
Land and
buildings
£
£
£
£
£
Cost or
valuation
At 01 February 2019
132,309
19,291
18,507
29,584
64,927
6,580
180
-
6,400
-
Additions
At 31 January 2020
35,984
18,507
19,471
138,889
64,927
Provision for depreciation and impairment
At 01 February 2019
92,174
16,496
12,633
15,242
47,803
Charge for year
8,710
447
870
3,112
4,281
At 31 January 2020
100,884
16,943
13,503
18,354
52,084
At 31 January 2020
Net book value
12,843
17,630
5,004
2,528
38,005
At 31 January 2019
17,124
14,342
5,874
2,795
40,135
3. Inventories
2019
2020
£
£
Stocks
41,500
42,650
4. Trade and other receivables
2019
2020
£
£
Trade debtors
293
2,251
Other debtors
1,895
6,617
8,868
2,188
5. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Bank loans and overdraft
332
549
Trade creditors
53,250
96,922
Taxation and social security
19,077
5,870
Other creditors
14,951
15,728
87,610
119,069
3 of 4
6
For the year ended 31 January 2020
Ideal Envelopes Limited
Notes to the Financial Statements Continued
6. Average number of persons employed
During the year the average number of employees was 9 (2019 : 9)
4 of 4