REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 AUGUST 2021 TO 31 MAY 2022 |
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FOR |
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IT'S NOT 1999 LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 AUGUST 2021 TO 31 MAY 2022 |
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FOR |
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IT'S NOT 1999 LTD |
IT'S NOT 1999 LTD (REGISTERED NUMBER: 12787431) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2021 TO 31 MAY 2022 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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IT'S NOT 1999 LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 1 AUGUST 2021 TO 31 MAY 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 Certified Accountants |
5 Jardine House |
Harrovian Business Village |
Bessborough Road |
Harrow |
Middlesex |
HA1 3EX |
IT'S NOT 1999 LTD (REGISTERED NUMBER: 12787431) |
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STATEMENT OF FINANCIAL POSITION |
31 MAY 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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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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SHAREHOLDERS' FUNDS |
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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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In accordance with Section 444 of the Companies Act 2006, the Income Statement 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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IT'S NOT 1999 LTD (REGISTERED NUMBER: 12787431) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2021 TO 31 MAY 2022 |
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1. | STATUTORY INFORMATION |
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It's Not 1999 Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about It's Not 1999 Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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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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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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 period 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 statement of financial position date. |
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Pension costs and other post-retirement benefits |
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. |
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Fixed asset investments |
Investments in subsidiary undertakings are recognised at cost. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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IT'S NOT 1999 LTD (REGISTERED NUMBER: 12787431) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2021 TO 31 MAY 2022 |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 August 2021 |
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Additions |
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At 31 May 2022 |
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AMORTISATION |
At 1 August 2021 |
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Charge for period |
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At 31 May 2022 |
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NET BOOK VALUE |
At 31 May 2022 |
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At 31 July 2021 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 August 2021 |
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Additions |
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At 31 May 2022 |
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DEPRECIATION |
At 1 August 2021 |
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Charge for period |
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At 31 May 2022 |
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NET BOOK VALUE |
At 31 May 2022 |
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At 31 July 2021 |
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6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 August 2021 |
and 31 May 2022 |
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NET BOOK VALUE |
At 31 May 2022 |
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At 31 July 2021 |
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IT'S NOT 1999 LTD (REGISTERED NUMBER: 12787431) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2021 TO 31 MAY 2022 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the periods ended 31 May 2022 and 31 July 2021: |
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2022 | 2021 |
£ | £ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
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10. | RELATED PARTY DISCLOSURES |
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Included in debtors is an amount of £459,203 (2021: £203,800) owed from related companies in which one or more of the directors have an interest. |
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Included in creditors is an amount of £100 (2021: £100) owed to related companies in which one or more of the directors have an interest. |
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During the period, the company received services amounting to £251,069 (2021: £177,390) from related companies in which one or more of the directors have an interest. |
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11. | CHANGE OF ACCOUNTING PERIOD END |
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The company shortened its accounting period end by 2 months so as to end on 31 May 2022. This years figures are for 10 months (2021: 12 months). |