Company Registration No. 08421411 (England and Wales)
Innovation Bedding Limited
Unaudited accounts
for the period from 1 March 2019 to 28 February 2020
Innovation Bedding Limited
Unaudited accounts
Contents
Innovation Bedding Limited
Company Information
for the period from 1 March 2019 to 28 February 2020
Director
Amir Shahzad Qureshi
Company Number
08421411 (England and Wales)
Registered Office
City Gate House
246-250 Romford Road
London
E7 9HZ
Accountants
Legend Financial and Tax Advisers Limited
Citygate House
246 - 250 Romford Road
London
E7 9HZ
Innovation Bedding Limited
Statement of financial position
as at
28 February 2020
Tangible assets
2,850
2,038
Cash at bank and in hand
853
279
Creditors: amounts falling due within one year
(6,563)
(2,045)
Net current liabilities
(2,740)
(1,766)
Called up share capital
100
100
Profit and loss account
10
172
Shareholders' funds
110
272
For the period ending 28 February 2020 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 director acknowledges his 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.
Approved by the Board on 9 April 2020.
Amir Shahzad Qureshi
Director
Company Registration No. 08421411
Innovation Bedding Limited
Notes to the Accounts
for the period from 1 March 2019 to 28 February 2020
Innovation Bedding Limited is a private company, limited by shares, registered in England and Wales, registration number 08421411. The registered office is City Gate House, 246-250 Romford Road, London, E7 9HZ.
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 period, 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. 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 Method
Fixtures & fittings
20% Reducing Balance Method
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 March 2019
-
2,184
2,184
At 28 February 2020
1,525
2,184
3,709
At 1 March 2019
-
146
146
Charge for the period
305
408
713
At 28 February 2020
305
554
859
At 28 February 2020
1,220
1,630
2,850
At 28 February 2019
-
2,038
2,038
Innovation Bedding Limited
Notes to the Accounts
for the period from 1 March 2019 to 28 February 2020
6
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
1,088
557
Loans from directors
2,049
(676)
Wages Payable: £3,426
Corporation Tax: £803
PAYE & N.I: £285
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Average number of employees
During the period the average number of employees was 3 (2019: 1).