I-Partners Insurance Management Limited - Accounts to registrar (filleted) - small 18.2
I-Partners Insurance Management Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
FOR |
I-PARTNERS INSURANCE MANAGEMENT LIMITED |
I-PARTNERS INSURANCE MANAGEMENT LIMITED (REGISTERED NUMBER: 06607674) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
I-PARTNERS INSURANCE MANAGEMENT LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
91-97 Bohemia Road |
St Leonards on Sea |
East Sussex |
TN37 6RJ |
I-PARTNERS INSURANCE MANAGEMENT LIMITED (REGISTERED NUMBER: 06607674) |
STATEMENT OF FINANCIAL POSITION |
30 JUNE 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
I-PARTNERS INSURANCE MANAGEMENT LIMITED (REGISTERED NUMBER: 06607674) |
STATEMENT OF FINANCIAL POSITION - continued |
30 JUNE 2019 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors on |
I-PARTNERS INSURANCE MANAGEMENT LIMITED (REGISTERED NUMBER: 06607674) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
1. | STATUTORY INFORMATION |
I-Partners Insurance Management Limited is a |
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 Sterling (£), rounded to the nearest whole Pound. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of insurance advisors and agents. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain critical |
accounting estimates. It also requires management to exercise judgement in applying the company's accounting |
policies. |
ACCOUNTING ESTIMATES AND JUDGEMENTS |
In preparing the financial statements, the directors are required to make estimates and judgements about the |
carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are |
based on historical experience and other factors that are considered by the directors to be relevant. Revision to |
accounting estimates are recognised in the period in which the estimate is revised. |
TURNOVER |
Turnover represents the value of work performed during the year with respect to services. |
SOFTWARE DEVELOPMENT COSTS |
Software development costs incurred have been capitalised and have been amortised over their useful economic life |
of 3 years on a straight line basis. |
TANGIBLE FIXED ASSETS |
Computer equipment | - |
I-PARTNERS INSURANCE MANAGEMENT LIMITED (REGISTERED NUMBER: 06607674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
2. | ACCOUNTING POLICIES - continued |
FINANCIAL INSTRUMENTS |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other |
Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the |
contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is |
a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to |
realise the asset and settle the liability simultaneously. |
BASIC FINANCIAL ASSETS |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction |
price including transaction costs and are subsequently carried at amortised cost using the effective interest method |
unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value |
of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one |
year are not amortised. |
CLASSIFICATION OF FINANCIAL LIABILITIES |
Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of |
the company after deducting all of its liabilities. |
BASIC FINANCIAL LIABILITIES |
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the |
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the |
future payment is discounted at a market rate of interest. Financial liabilities classified as payable within one year |
are not amortised. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or |
less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price |
and subsequently measured at amortised cost using the effective interest method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
I-PARTNERS INSURANCE MANAGEMENT LIMITED (REGISTERED NUMBER: 06607674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
Cost |
At 1 July 2018 |
and 30 June 2019 |
Amortisation |
At 1 July 2018 |
and 30 June 2019 |
Net book value |
At 30 June 2019 |
At 30 June 2018 |
5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
Cost |
At 1 July 2018 |
and 30 June 2019 |
Depreciation |
At 1 July 2018 |
Charge for year |
At 30 June 2019 |
Net book value |
At 30 June 2019 |
At 30 June 2018 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Other debtors |
I-PARTNERS INSURANCE MANAGEMENT LIMITED (REGISTERED NUMBER: 06607674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Directors' current accounts | 629 | 197 |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
Ordinary | £1 | 6 | 6 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 July 2018 |
Profit for the year |
Dividends | ( |
) |
At 30 June 2019 |
10. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company owed £216 (2018: £Nil) to Mr. D I Hall, a director of the company. |
At the balance sheet date, the company owed £413 (2018: £197) to Mr. J R Houlder, a director of the company. |
11. | ULTIMATE CONTROLLING PARTY |
The company is under the control of the directors who own 100% of the share capital. |