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REGISTERED NUMBER: 06433968 (England and Wales)
















INTELLIGENT FINISHING SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017






INTELLIGENT FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 06433968)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017




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 2017







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 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,768 46,223

CURRENT ASSETS
Debtors 5 119,363 144,369
Cash at bank 31,376 24,236
150,739 168,605
CREDITORS
Amounts falling due within one year 6 123,289 150,987
NET CURRENT ASSETS 27,450 17,618
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,218

63,841

CREDITORS
Amounts falling due after more than one
year

7

-

(1,176

)

PROVISIONS FOR LIABILITIES (8,560 ) (9,200 )
NET ASSETS 61,658 53,465

CAPITAL AND RESERVES
Called up share capital 66 66
Capital redemption reserve 33 33
Retained earnings 61,559 53,366
SHAREHOLDERS' FUNDS 61,658 53,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 2017


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 16 March 2018 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 2017

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 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 2017

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2016 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2017 728 108,892 109,620
Additions - 18,270 18,270
Disposals - (22,771 ) (22,771 )
At 31 December 2017 728 104,391 105,119
DEPRECIATION
At 1 January 2017 728 62,669 63,397
Charge for year - 12,277 12,277
Eliminated on disposal - (13,323 ) (13,323 )
At 31 December 2017 728 61,623 62,351
NET BOOK VALUE
At 31 December 2017 - 42,768 42,768
At 31 December 2016 - 46,223 46,223

INTELLIGENT FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 06433968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

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 2017 59,768
Transfer to ownership (38,608 )
At 31 December 2017 21,160
DEPRECIATION
At 1 January 2017 28,688
Charge for year 3,141
Transfer to ownership (20,092 )
At 31 December 2017 11,737
NET BOOK VALUE
At 31 December 2017 9,423
At 31 December 2016 31,080

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 104,358 130,488
Other debtors 15,005 13,881
119,363 144,369

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 38,086 54,698
Hire purchase contracts 1,176 10,629
Trade creditors 10,111 6,483
Taxation and social security 60,651 70,024
Other creditors 13,265 9,153
123,289 150,987

INTELLIGENT FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 06433968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2017 2016
£    £   
Hire purchase contracts - 1,176

8. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Hire purchase contracts 1,176 11,805

The hire purchase contracts are secured on the assets concerned.

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £84,000 (2016 - £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 2017 and at 31st December 2016, were as follows:

20172016
££
D.P. Levy1,254705
J.D. Payne 6,5392,104
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.