Company Registration No. NI625822 (Northern Ireland)
IPS Cubicle (NI) Limited
Unaudited accounts
for the year ended 31 July 2023
IPS Cubicle (NI) Limited
Unaudited accounts
Contents
IPS Cubicle (NI) Limited
Company Information
for the year ended 31 July 2023
Directors
Melany Campbell
Ryan Church
Company Number
NI625822 (Northern Ireland)
Registered Office
14 The Meadows
Broughshane
Ballymena
Co Antrim
BT43 7NG
Northern Ireland
Accountants
TAG Accountants (N.I.) Ltd
81a Galgorm Road
Ballymena
Co Antrim
BT42 1AA
IPS Cubicle (NI) Limited
Statement of financial position
as at 31 July 2023
Tangible assets
53,406
12,069
Cash at bank and in hand
23,764
34,008
Creditors: amounts falling due within one year
(52,999)
(31,804)
Net current (liabilities)/assets
(17,130)
7,698
Total assets less current liabilities
36,276
19,767
Provisions for liabilities
Deferred tax
(10,148)
(2,294)
Called up share capital
100
100
Profit and loss account
26,028
17,373
Shareholders' funds
26,128
17,473
For the year ending 31 July 2023 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 directors acknowledge their 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.
The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2023 and were signed on its behalf by
Ryan Church
Director
Company Registration No. NI625822
IPS Cubicle (NI) Limited
Notes to the Accounts
for the year ended 31 July 2023
IPS Cubicle (NI) Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI625822. The registered office is 14 The Meadows, Broughshane, Ballymena, Co Antrim, BT43 7NG, Northern Ireland.
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.
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
20% Reducing Balance
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.
IPS Cubicle (NI) Limited
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery
Charge for the year
13,352
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
25,388
34,500
Obligations under finance leases and hire purchase contracts
35,160
-
Taxes and social security
29,247
25,743
Loans from directors
(38,970)
(30,473)
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 5 (2022: 4).