Inter-tube Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09644837 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

INTER-TUBE LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mrs V E Peters

Mr N B Peters

REGISTERED OFFICE:

Priory House

2 Priory Road

Dudley

West Midlands

DY1 1HH

REGISTERED NUMBER:

09644837 (England and Wales)

ACCOUNTANTS:

Poole Waterfield Limited

Priory House

2 Priory Road

Dudley

West Midlands

DY1 1HH

FIXED ASSETS

Tangible assets

4

2,120

2,913

CURRENT ASSETS

Stocks

116,410

48,766

Debtors

5

1,112,125

681,092

Cash at bank

39,210

20,229

1,267,745

750,087

CREDITORS

Amounts falling due within one year

6

1,200,433

688,555

NET CURRENT ASSETS

67,312

61,532

TOTAL ASSETS LESS CURRENT LIABILITIES

69,432

64,445

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

69,382

64,395

SHAREHOLDERS' FUNDS

69,432

64,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 20 September 2017 and were signed on its behalf by:

Mr N B Peters - Director

1.	STATUTORY INFORMATION

Inter-tube Ltd 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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2016

and 30 June 2017

2,854

1,031

3,885

DEPRECIATION

At 1 July 2016

714

258

972

Charge for year

535

258

793

At 30 June 2017

1,249

516

1,765

NET BOOK VALUE

At 30 June 2017

1,605

515

2,120

At 30 June 2016

2,140

773

2,913

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

1,111,804

633,079

Prepayments

321

48,013

1,112,125

681,092

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade creditors

928,492

485,564

Taxation and social security

265,969

188,930

Other creditors

5,972

14,061

1,200,433

688,555

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.17

30.6.16

£

£

Trade Finance

747,021

420,514

The trade finance is secured by fixed and floating charges over the assets of the company, together

with a limited personal guarantee of a member of the Board of Directors.