The Interactive Design Institute Limited - Limited company - abbreviated - 11.6
The Interactive Design Institute Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| The Interactive Design Institute Limited |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 December 2014 |
| The Interactive Design Institute Limited (Registered number: SC265879) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 December 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| The Interactive Design Institute Limited |
| Company Information |
| for the Year Ended 31 December 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANKERS: |
| SOLICITORS: |
| The Interactive Design Institute Limited (Registered number: SC265879) |
| Abbreviated Balance Sheet |
| 31 December 2014 |
| 2014 | 2013 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
| NET LIABILITIES | ( |
) | ( |
) |
| The Interactive Design Institute Limited (Registered number: SC265879) |
| Abbreviated Balance Sheet - continued |
| 31 December 2014 |
| 2014 | 2013 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Share premium |
| Profit and loss account | ( |
) | ( |
) |
| 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. |
| The financial statements were approved by the Board of Directors on its behalf by: |
| The Interactive Design Institute Limited (Registered number: SC265879) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 December 2014 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in |
| accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover and revenue recognition |
| Turnover represents the invoiced income in respect of fees for educational programmes and online |
| qualifications courses, excluding VAT. |
| Revenue is recognised in equal monthly instalments across the length of the educational |
| programmes and online qualification courses provided. |
| Goodwill |
| Development costs |
| Development costs are for the development of the online systems and materials used for providing |
| the programmes and qualification courses. These costs are amortised equally over their estimated |
| useful life of 10 years. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
| at the balance sheet date where transactions or events have occurred at that date that will result in |
| an obligation to pay more, or a right to pay less or to receive more, tax. |
| Deferred tax assets are recognised only to the extent that the directors consider that it is more |
| likely than not that there will be suitable taxable profits from which the future reversal of the |
| underlying timing differences can be deducted. |
| Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the |
| periods in which timing differences reverse, based on tax rates and laws enacted or substantively |
| enacted at the balance sheet date. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| The Interactive Design Institute Limited (Registered number: SC265879) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 December 2014 |
| 1. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling |
| at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate |
| of exchange ruling at the date of transaction. Exchange differences are taken into account in |
| arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line |
| basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to the profit and loss account in the period to which they |
| relate. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2014 |
| Additions |
| At 31 December 2014 |
| AMORTISATION |
| At 1 January 2014 |
| Amortisation for year |
| At 31 December 2014 |
| NET BOOK VALUE |
| At 31 December 2014 |
| At 31 December 2013 |
| The Interactive Design Institute Limited (Registered number: SC265879) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 December 2014 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2014 |
| Additions |
| At 31 December 2014 |
| DEPRECIATION |
| At 1 January 2014 |
| Charge for year |
| At 31 December 2014 |
| NET BOOK VALUE |
| At 31 December 2014 |
| At 31 December 2013 |
| 4. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The aggregate total of debtors falling due after more than one year is £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary £1 each | £1 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended |
| 31 December 2014 and 31 December 2013: |
| 2014 | 2013 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year |
| The Interactive Design Institute Limited (Registered number: SC265879) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 December 2014 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year |
| 7. | GOING CONCERN |
| The financial statements have been prepared on the going concern principle, which assumes that |
| the company will continue to trade for the foreseeable future. In order to do so the company will |
| require the continued support of its directors. The directors will continue to support the company |
| and are confident of the continued support of other creditors and investors. |