In Form Design Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05420721 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2020

for

In Form Design Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Lewis

REGISTERED OFFICE:

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

REGISTERED NUMBER:

05420721 (England and Wales)

ACCOUNTANTS:

Inspire Chartered Accountants

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

FIXED ASSETS

Tangible assets

5

293

435

CURRENT ASSETS

Debtors

6

47,409

60,794

CREDITORS

Amounts falling due within one year

7

48,875

56,500

NET CURRENT (LIABILITIES)/ASSETS

(1,466

)

4,294

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,173

)

4,729

PROVISIONS FOR LIABILITIES

123

123

NET (LIABILITIES)/ASSETS

(1,296

)

4,606

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

(1,596

)

4,306

SHAREHOLDERS' FUNDS

(1,296

)

4,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 April 2021 and were signed by:

G Lewis - Director

1.	STATUTORY INFORMATION

In Form Design Services 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors have reviewed the company's forecasts and projections and, in particular, have considered the potential implications of the Coronavirus (COVID-19) pandemic. Whilst the eventual financial impact of the pandemic on the company, and on the overall economy, remains uncertain, the directors are confident that the company will be able to remain operational throughout the pandemic. However, it has inevitably had to scale back its operations after the year end. With the benefit of the government support packages available to help businesses through the pandemic, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 May 2019

and 30 April 2020

4,289

DEPRECIATION

At 1 May 2019

3,854

Charge for year

142

At 30 April 2020

3,996

NET BOOK VALUE

At 30 April 2020

293

At 30 April 2019

435

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

6,734

10,721

Other debtors

40,675

50,073

47,409

60,794

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans and overdrafts

12,985

15,050

Trade creditors

9,437

11,707

Taxation and social security

26,401

28,239

Other creditors

52

1,504

48,875

56,500

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.20

30.4.19

£

£

Bank overdrafts

12,985

15,050

The bank overdraft is secured by a personal guarantee given by both the directors and shareholders of the company.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2020 and 30 April 2019:

30.4.20

30.4.19

£

£

G Lewis

Balance outstanding at start of year

6,289

-

Amounts advanced

-

6,289

Amounts repaid

(6,299

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(10

)

6,289

The loan to the director was interest free and repaid by the director within 9 months after the year end.