Interframe (South West) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06503278 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2020

for

Interframe (South West) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C E Hempseed

C P Lewis

SECRETARY:

REGISTERED OFFICE:

Unit 15B

Bedwas House Industrial Estate

Bedwas

Caerphilly

CF83 8DW

REGISTERED NUMBER:

06503278 (England and Wales)

ACCOUNTANTS:

Neil Hodge & Co Limited

Chartered Accountants

and Statutory Auditors

106a Commercial Street

Risca

Gwent

NP11 6EE

FIXED ASSETS

Tangible assets

4

354,509

402,467

CURRENT ASSETS

Stocks

503,568

423,392

Debtors

5

623,940

977,704

Investments

6

4,004

12,874

Cash at bank and in hand

1,134,054

1,051,392

2,265,566

2,465,362

CREDITORS

Amounts falling due within one year

7

470,381

716,572

NET CURRENT ASSETS

1,795,185

1,748,790

TOTAL ASSETS LESS CURRENT LIABILITIES

2,149,694

2,151,257

PROVISIONS FOR LIABILITIES

68,000

76,000

NET ASSETS

2,081,694

2,075,257

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

2,081,594

2,075,157

SHAREHOLDERS' FUNDS

2,081,694

2,075,257

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 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 Board of Directors and authorised for issue on 26 May 2021 and were signed on its behalf by:

C E Hempseed - Director

1.	STATUTORY INFORMATION

Interframe (South West) 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 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.

Plant and machinery etc

-

10% 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.

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.

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.

Pension costs and other post-retirement benefits

The company contributes to a Group Personal Pension Scheme. The assets of that scheme are held

individually by each members scheme. All employees are eligible to join the scheme.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 110 (2019 - 117 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2019

992,403

Additions

49,405

Disposals

(48,000

)

At 31 May 2020

993,808

DEPRECIATION

At 1 June 2019

589,936

Charge for year

91,732

Eliminated on disposal

(42,369

)

At 31 May 2020

639,299

NET BOOK VALUE

At 31 May 2020

354,509

At 31 May 2019

402,467

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

381,177

863,880

Other debtors

242,763

113,824

623,940

977,704

6.	CURRENT ASSET INVESTMENTS

31.5.20

31.5.19

£

£

Listed investments

4,004

12,874

The listed investments, which cost £40,000, have been written down to market value at the year end.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade creditors

118,464

240,438

Taxation and social security

131,085

293,881

Other creditors

220,832

182,253

470,381

716,572

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.5.20

31.5.19

£

£

Within one year

241,739

251,862

Between one and five years

166,954

358,293

In more than five years

-

5,400

408,693

615,555

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.20

31.5.19

value:

£

£

100

Ordinary

£1

100

100

10.	RELATED PARTY DISCLOSURES

Mr Carl Lewis and his wife own Solar Windows Limited.

The company sold goods on arms length terms to Solar Windows Ltd during the year. Such sales

totalled £67,165 (2019 : £87,146). Purchases from Solar Windows Ltd in the year were £0 (2019:

£4,451).

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by its Directors.

12.

COVID-19

The company was significantly affected by the lockdown in March 2020.

However the company recommenced production in May 2020, and since then has enjoyed good sales

and improved profitability. It continues to benefit from a strong balance sheet and healthy cash

reserves.