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Financial Statements for the Year Ended 30 September 2022 |
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Inside Out (Northern) Ltd |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 30 September 2022 |
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for |
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Inside Out (Northern) Ltd |
Inside Out (Northern) Ltd (Registered number: 04911885) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Inside Out (Northern) Ltd |
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Company Information |
for the Year Ended 30 September 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants & Registered Auditors |
Richmond House |
Lawnswood Business Park |
Redvers Close |
Leeds |
West Yorkshire |
LS16 6QY |
Inside Out (Northern) Ltd (Registered number: 04911885) |
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Balance Sheet |
30 September 2022 |
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30.9.22 | 30.9.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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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. |
Inside Out (Northern) Ltd (Registered number: 04911885) |
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Balance Sheet - continued |
30 September 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Inside Out (Northern) Ltd (Registered number: 04911885) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2022 |
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1. | STATUTORY INFORMATION |
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Inside Out (Northern) Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The accounts have been prepared on a going concern basis due the continuing support of the directors and shareholders of the company. |
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Turnover |
Turnover is represented by net fees relating to repairs and property renovations during the normal course of business. Turnover is recognised upon the completion of the service when the obligation to receive the monies become due. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Financial instruments |
Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
Inside Out (Northern) Ltd (Registered number: 04911885) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2022 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Dividend note |
At the time the dividend was paid in 2021 the directors were not aware that there were insufficient profits available for distribution and the directors acknowledge that no further distributions can be paid until there are sufficient profits available for that purpose. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2021 |
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Disposals |
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At 30 September 2022 |
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DEPRECIATION |
At 1 October 2021 |
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Charge for year |
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Eliminated on disposal |
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At 30 September 2022 |
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NET BOOK VALUE |
At 30 September 2022 |
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At 30 September 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.22 | 30.9.21 |
£ | £ |
Trade debtors |
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Other debtors |
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Inside Out (Northern) Ltd (Registered number: 04911885) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2022 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.22 | 30.9.21 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.9.22 | 30.9.21 |
£ | £ |
Bank loans |
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