Intelligent Decisioning Ltd Filleted accounts for Companies House (small and micro)

INTELLIGENT DECISIONING LTD - Company Information

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COMPANY REGISTRATION NUMBER: 03334833

Intelligent Decisioning Ltd

Filleted Unaudited Financial Statements

31 December 2018

Intelligent Decisioning Ltd

Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		9,330	8,515

Current assets

Work in progress		48,000	20,000
Debtors	6	114,481	169,343
Cash at bank and in hand		51,070	47,769
		---------	---------
		213,551	237,112

Creditors: amounts falling due within one year	7	101,250		141,514
		---------		---------
Net current assets			112,301	95,598
			---------	---------
Total assets less current liabilities			121,631	104,113

Provisions

Taxation including deferred tax	1,586	1,389
	---------	---------
Net assets	120,045	102,724
	---------	---------

Capital and reserves

Called up share capital	20,000	20,000
Capital redemption reserve	20,000	20,000
Profit and loss account	80,045	62,724
	---------	---------
Shareholders funds	120,045	102,724
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Intelligent Decisioning Ltd

Statement of Financial Position (continued)

31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 17 April 2019 , and are signed on behalf of the board by:

Mr A Pounder

Director

Company registration number: 03334833

Intelligent Decisioning Ltd

Notes to the Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Strelley Hall, Main Street, Strelley, Nottingham, NG8 6PE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computer equipment	-	25% straight line
Plant & machinery	-	25% straight line
Fixtures & fittings	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Work in progress

In determining the amount of revenue to be recognised on incomplete contracts, it is necessary to estimate their stage of completion, the remaining time and costs to be incurred and the amounts that will be paid for the services provided. These estimates are made on a contract by contract basis and a different assessment of any of these factors would result in a change to the amount of revenue recognised.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 19 (2017: 14 ).

5. Tangible assets

	Computer equipment	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 January 2018	78,523	1,502	12,211	92,236
Additions	6,011	–	900	6,911
	--------	-------	--------	--------
At 31 December 2018	84,534	1,502	13,111	99,147
	--------	-------	--------	--------
Depreciation
At 1 January 2018	70,836	849	12,036	83,721
Charge for the year	5,412	375	309	6,096
	--------	-------	--------	--------
At 31 December 2018	76,248	1,224	12,345	89,817
	--------	-------	--------	--------
Carrying amount
At 31 December 2018	8,286	278	766	9,330
	--------	-------	--------	--------
At 31 December 2017	7,687	653	175	8,515
	--------	-------	--------	--------

6. Debtors

	2018	2017
	£	£
Trade debtors	109,531	164,212
Other debtors	4,950	5,131
	---------	---------
	114,481	169,343
	---------	---------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	2,625	11,911
Corporation tax	12,283	25,367
Social security and other taxes	56,468	63,181
Other creditors	29,874	41,055
	---------	---------
	101,250	141,514
	---------	---------