Instant Availability Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06026432 (England and Wales)

Financial Statements

for the Year Ended 31 May 2018

for

INSTANT AVAILABILITY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R I Kelt

L Hayes

SECRETARY:

E Ryan

REGISTERED OFFICE:

Moderna Business Park

Unit 17A

Mytholmroyd

West Yorkshire

HX7 5QQ

REGISTERED NUMBER:

06026432 (England and Wales)

ACCOUNTANTS:

Rawse, Varley & Co

Chartered Accountants

Lloyds Bank Chambers

Hustlergate

Bradford

BD1 1UQ

FIXED ASSETS

Tangible assets

3

218

1,451

CURRENT ASSETS

Debtors

4

79,991

67,960

Cash at bank

30,853

23,753

110,844

91,713

CREDITORS

Amounts falling due within one year

5

81,904

77,876

NET CURRENT ASSETS

28,940

13,837

TOTAL ASSETS LESS CURRENT LIABILITIES

29,158

15,288

CREDITORS

Amounts falling due after more than one year

6

163,908

163,908

NET LIABILITIES

(134,750

)

(148,620

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

(134,850

)

(148,720

)

SHAREHOLDERS' FUNDS

(134,750

)

(148,620

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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.

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 22 February 2019 and were signed on its behalf by:

R I Kelt - Director

L Hayes - Director

1.	STATUTORY INFORMATION

Instant Availability 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.

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 represents the invoiced amount of goods sold and services provided exclusive of value added tax. In

the case of service contracts income is recognised in the profit and loss account on a time apportionment basis,

the proportion of contract income unexpired at the balance sheet date being deferred to the following period in

order to match more closely the services provided.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation.

Depreciation is calculated to write off the cost less the estimated residual value of the assets over their expected

useful lives at the following annual rates:

Improvements to rented property - 10% of cost

Fixtures, fittings and equipment - 20% of 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

3.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 June 2017

29,010

68,347

97,357

Additions

-

272

272

At 31 May 2018

29,010

68,619

97,629

DEPRECIATION

At 1 June 2017

27,559

68,347

95,906

Charge for year

1,451

54

1,505

At 31 May 2018

29,010

68,401

97,411

NET BOOK VALUE

At 31 May 2018

-

218

218

At 31 May 2017

1,451

-

1,451

4.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

27,947

11,744

Prepayments and accrued income

27,284

27,862

55,231

39,606

Amounts falling due after more than one year:

Deferred tax asset

24,760

28,354

Aggregate amounts

79,991

67,960

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

55,960

50,754

Social security and other taxes

344

197

Accruals and deferred income

25,600

26,925

81,904

77,876

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Directors' loan accounts

163,908

163,908

Directors' loans are interest free and repayable at option of the lenders by giving one year and one day's notice,

at any time.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

1

100

100

8.

RESERVES

Retained

earnings

£

At 1 June 2017

(148,720

)

Profit for the year

13,870

At 31 May 2018

(134,850

)

9.	GOING CONCERN

The company meets its day to day working capital requirements through loans from its directors. The directors

have considered the likely working capital requirements for the period ending twelve months from the date of

approval of these accounts and concluded that the company should have access to adequate resources to enable a

continuation of the company's business. These views are based on the company's plans and a reasonable

expectation of future income. Whilst there is no certainty in these matters, the directors consider it appropriate to

prepare the accounts on the going concern basis.