The International OnLine Bridge Club Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03890819 (England and Wales)

Financial Statements for the Year Ended 28 February 2019

for

The International On Line Bridge Club

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N A Justice

REGISTERED OFFICE:

Palmeira Avenue Mansions

19 Church Road

Hove

East Sussex

BN3 2FA

REGISTERED NUMBER:

03890819 (England and Wales)

ACCOUNTANTS:

Atkinsons

Chartered Accountants

Palmeira Avenue Mansions

19 Church Road

Hove

East Sussex

BN3 2FA

FIXED ASSETS

Tangible assets

4

100

426

CURRENT ASSETS

Debtors

5

151,300

153,132

Cash at bank

420

725

151,720

153,857

CREDITORS

Amounts falling due within one year

6

73,286

70,230

NET CURRENT ASSETS

78,434

83,627

TOTAL ASSETS LESS CURRENT LIABILITIES

78,534

84,053

CAPITAL AND RESERVES

Called up share capital

76,166

76,166

Share premium

139,934

139,934

Retained earnings

(137,566

)

(132,047

)

SHAREHOLDERS' FUNDS

78,534

84,053

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 18 November 2019 and were signed by:

N A Justice - Director

1.	STATUTORY INFORMATION

The International On Line Bridge Club 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Computer equipment

-

Straight line over 3 years

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 March 2018

and 28 February 2019

1,211

DEPRECIATION

At 1 March 2018

785

Charge for year

326

At 28 February 2019

1,111

NET BOOK VALUE

At 28 February 2019

100

At 28 February 2018

426

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Other debtors

151,300

153,132

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Bank loans and overdrafts

4,110

4,069

Trade creditors

2,157

411

Taxation and social security

8,452

13,467

Other creditors

58,567

52,283

73,286

70,230

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2019 and

28 February 2018:

28.2.19

28.2.18

£

£

N A Justice

Balance outstanding at start of year

115,301

115,007

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

121,238

115,301

8.	RELATED PARTY DISCLOSURES

During the year, the company made loans to a director of £5,937 (2018 - £9,059). As at 28 February 2019, the

company was owed £121,238 (2018 - £115,301) by the sole director. The loan has a 2.5% interest rate and is

repayable on demand.

During the year, the company paid consultancy fees totalling £34,840 (2018 - £27,400 to P J Allen, who is a

shareholder to the company.

No other transactions with related parties were undertaken such as are required to be disclosed under Section 1A

Small Entities of Financial Reporting Standard 102.