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REGISTERED NUMBER: 06433968 (England and Wales)
















INTELLIGENT FINISHING SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016






INTELLIGENT FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 06433968)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


INTELLIGENT FINISHING SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTORS: J.D. Payne
D.P. Levy





REGISTERED OFFICE: D16 Frogmore Industrial Estate
Park J31 Motherwell Way
West Thurrock
Grays
Essex
RM20 3XD





REGISTERED NUMBER: 06433968 (England and Wales)





ACCOUNTANTS: Bland Baker
Chartered Accountants
21 Lodge Lane
Grays
Essex
RM17 5RY

INTELLIGENT FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 06433968)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,223 49,055

CURRENT ASSETS
Debtors 5 144,369 109,102
Cash at bank and in hand 24,236 6,240
168,605 115,342
CREDITORS
Amounts falling due within one year 6 150,987 103,463
NET CURRENT ASSETS 17,618 11,879
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,841

60,934

CREDITORS
Amounts falling due after more than one
year

7

(1,176

)

(11,804

)

PROVISIONS FOR LIABILITIES (9,200 ) (9,800 )
NET ASSETS 53,465 39,330

CAPITAL AND RESERVES
Called up share capital 66 66
Capital redemption reserve 33 33
Retained earnings 53,366 39,231
SHAREHOLDERS' FUNDS 53,465 39,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

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.

INTELLIGENT FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 06433968)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 April 2017 and were signed on its
behalf by:





J.D. Payne - Director


INTELLIGENT FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 06433968)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

1. STATUTORY INFORMATION

Intelligent Finishing Solutions Limited is a private company, limited by shares , registered in England
and Wales. The company's registered number and registered office address can be found on the
Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on cost

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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been
enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the statement of financial position date.

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.

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.

INTELLIGENT FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 06433968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

2. ACCOUNTING POLICIES - continued

Hire purchase and 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period
of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2015 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2016 728 98,997 99,725
Additions - 9,895 9,895
At 31 December 2016 728 108,892 109,620
DEPRECIATION
At 1 January 2016 728 49,942 50,670
Charge for year - 12,727 12,727
At 31 December 2016 728 62,669 63,397
NET BOOK VALUE
At 31 December 2016 - 46,223 46,223
At 31 December 2015 - 49,055 49,055

INTELLIGENT FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 06433968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2016
and 31 December 2016 59,768
DEPRECIATION
At 1 January 2016 18,328
Charge for year 10,360
At 31 December 2016 28,688
NET BOOK VALUE
At 31 December 2016 31,080
At 31 December 2015 41,440

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 130,488 95,841
Other debtors 13,881 13,261
144,369 109,102

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Bank loans and overdrafts 54,698 33,103
Hire purchase contracts 10,629 17,276
Trade creditors 6,483 4,357
Taxation and social security 70,024 41,227
Other creditors 9,153 7,500
150,987 103,463

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2016 2015
£    £   
Hire purchase contracts 1,176 11,804

INTELLIGENT FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 06433968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

8. SECURED DEBTS

The following secured debts are included within creditors:

2016 2015
£    £   
Hire purchase contracts 11,805 29,080

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £80,000 were paid to the directors .

Controlling party
The company is under the control of the directors, who hold 100% of the issued share capital of the
company.

Balances with related parties
Amounts due to the directors, as at 31st December 2016 and at 31st December 2015, were as follows:

20162015
££
D.P. Levy705581
J.D. Payne 2,104170
Balances represent unsecured, interest free loans, repayable on demand.

Transactions with related parties
The directors have given personal guarantees to support the bank borrowings of the company.