Interactive Education Solutions Limited - Abbreviated accounts

INTERACTIVE EDUCATION SOLUTIONS LIMITED - Company Information

Registered number

06029246

Interactive Education Solutions Limited

Abbreviated Accounts

31 December 2014

Interactive Education Solutions Limited
Registered number:		06029246
Abbreviated Balance Sheet
as at 31 December 2014

Notes			2014			2013
£				£
Fixed assets
Tangible assets	2		314,041			-

Current assets
Debtors		590,919			281,959
Cash at bank and in hand		8,807			3,111
		599,726			285,070

Creditors: amounts falling due within one year		(519,968)			(230,559)

Net current assets			79,758			54,511

Total assets less current liabilities			393,799			54,511

Creditors: amounts falling due after more than one year			(255,298)			-

Provisions for liabilities			(2,954)			-


Net assets			135,547			54,511

Capital and reserves
Called up share capital	4		2			2
Profit and loss account			135,545			54,509

Shareholders' funds			135,547			54,511

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



R Singh
Director
Approved by the board on 24 March 2015

Interactive Education Solutions Limited
Notes to the Abbreviated Accounts
for the year ended 31 December 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of educational hardware and software goods provided to customers.

	Tangible fixed assets
	Depreciation has been provided on tangible fixed assets at the following rates in order to write off the assets over their estimated useful lives.

	Freehold property			2% straight line
	Motor vehicles			25% reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

	Government grants
	Grants from the government are recognised as a receivable at their fair value when there is reasonable assurance that the grant will be received and the company will comply with all the attached conditions. Government grants receivable are recognised as income over the periods necessary to match them with the related costs which they are intended to compensate, on a systematic basis. Government grants relating to expenses are shown separately as other income. Government grants relating to assets are deducted against the carrying amount of the assets.


2	Tangible fixed assets					£

	Cost
	Additions					325,071
	At 31 December 2014					325,071

	Depreciation
	Charge for the year					11,030
	At 31 December 2014					11,030

	Net book value
	At 31 December 2014					314,041


3	Loans					2014		2013
£							£
	Creditors include:
	Amounts falling due for payment after more than five years					204,089		-
	Secured bank loans					255,780		-


4	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		2		2		2