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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 |
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IDEAL MODULES LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 |
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FOR |
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IDEAL MODULES LIMITED |
IDEAL MODULES LIMITED (REGISTERED NUMBER: 10802357) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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IDEAL MODULES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2019 |
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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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375 Eaton Road |
West Derby |
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Merseyside |
L12 2AH |
IDEAL MODULES LIMITED (REGISTERED NUMBER: 10802357) |
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BALANCE SHEET |
30 JUNE 2019 |
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30.6.19 | 30.6.18 |
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 ASSETS |
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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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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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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. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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IDEAL MODULES LIMITED (REGISTERED NUMBER: 10802357) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
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1. | STATUTORY INFORMATION |
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Ideal Modules Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Leasehold property | - |
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Plant and machinery | - |
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Fixtures & office equipment | - |
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Motor vehicles | - |
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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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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. |
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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. |
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Leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
element of the future payments is treated as a liability. |
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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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Pension costs |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
IDEAL MODULES LIMITED (REGISTERED NUMBER: 10802357) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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3. | EMPLOYEES |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | Plant and | & office | Motor |
property | machinery | equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2018 |
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Additions |
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At 30 June 2019 |
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DEPRECIATION |
At 1 July 2018 |
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Charge for year |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
Additions |
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At 30 June 2019 |
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DEPRECIATION |
Charge for year |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.19 | 30.6.18 |
£ | £ |
Trade debtors |
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Other debtors |
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IDEAL MODULES LIMITED (REGISTERED NUMBER: 10802357) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.19 | 30.6.18 |
£ | £ |
Hire purchase contracts (see note 8) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.19 | 30.6.18 |
£ | £ |
Hire purchase contracts (see note 8) |
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8. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
30.6.19 | 30.6.18 |
£ | £ |
Gross obligations repayable: |
Within one year |
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Between one and five years |
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Finance charges repayable: |
Within one year |
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Between one and five years |
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Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
30.6.19 | 30.6.18 |
£ | £ |
Within one year |
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Between one and five years |
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IDEAL MODULES LIMITED (REGISTERED NUMBER: 10802357) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.6.19 | 30.6.18 |
£ | £ |
Hire purchase contracts | 121,228 | - |
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Hire purchase contracts are secured on the assets financed. |