Company Registration No. 04090789 (England and Wales)
INSIDE OUT PAINT SUPPLIES LIMITED
DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
PAGES FOR FILING WITH REGISTRAR
INSIDE OUT PAINT SUPPLIES LIMITED
BALANCE SHEET
- 1 -
2018
2017
Notes
£
£
£
£
Current assets
Debtors
2
61,005
59,036
Cash at bank and in hand
-
1,969
61,005
61,005
Net current assets
61,005
61,005
Capital and reserves
Called up share capital
4
1
1
Profit and loss reserves
61,004
61,004
Total equity
61,005
61,005
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 May 2018 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been
prepared and delivered
in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 12 October 2018 and are signed on its behalf by:
Mr C Woodhams
Director
Company Registration No. 04090789
INSIDE OUT PAINT SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
- 2 -
1
Accounting policies
Company information
Inside Out Paint Supplies Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
85-87 Churchill Road, Bicester, Oxfordshire, OX26 4PZ
.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Cash and cash equivalents
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
61,005
59,036
4
Share capital
2018
2017
£
£
Alloted, called up and fully paid
1 Ordinary shares of £1 each
1
1
5
Related party transactions
Transactions with related parties
At the balance sheet date the company was owed £61,005 from Inside Out Developments Limited, a company in which director Mr Woodhams is also a director and shareholder. (2017: £59,036).
6
Controlling party
The company is controlled by Colin Woodhams by virtue of his 100% shareholding.