IV Response Limited 31/12/2019 iXBRL

IV Response Limited 31/12/2019 iXBRL

IV RESPONSE LIMITED - Company Information

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31/12/2019 2019-12-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2019-01-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 04318927 2019-01-01 2019-12-31 04318927 2019-12-31 04318927 2018-12-31 04318927 2018-01-01 2018-12-31 04318927 2018-12-31 04318927 core:PlantMachinery 2019-01-01 2019-12-31 04318927 core:FurnitureFittingsToolsEquipment 2019-01-01 2019-12-31 04318927 bus:RegisteredOffice 2019-01-01 2019-12-31 04318927 bus:Director1 2019-01-01 2019-12-31 04318927 bus:Director2 2019-01-01 2019-12-31 04318927 bus:CompanySecretary1 2019-01-01 2019-12-31 04318927 core:IntangibleAssetsOtherThanGoodwill 2019-12-31 04318927 core:PlantMachinery 2018-12-31 04318927 core:FurnitureFittingsToolsEquipment 2018-12-31 04318927 core:PlantMachinery 2019-12-31 04318927 core:FurnitureFittingsToolsEquipment 2019-12-31 04318927 core:WithinOneYear 2019-12-31 04318927 core:WithinOneYear 2018-12-31 04318927 core:ShareCapital 2019-12-31 04318927 core:ShareCapital 2018-12-31 04318927 core:RetainedEarningsAccumulatedLosses 2019-12-31 04318927 core:RetainedEarningsAccumulatedLosses 2018-12-31 04318927 core:IntangibleAssetsOtherThanGoodwill 2018-12-31 04318927 core:PlantMachinery 2018-12-31 04318927 core:FurnitureFittingsToolsEquipment 2018-12-31 04318927 bus:SmallEntities 2019-01-01 2019-12-31 04318927 bus:AuditExempt-NoAccountantsReport 2019-01-01 2019-12-31 04318927 bus:FullAccounts 2019-01-01 2019-12-31 04318927 bus:SmallCompaniesRegimeForAccounts 2019-01-01 2019-12-31 04318927 bus:PrivateLimitedCompanyLtd 2019-01-01 2019-12-31
Company registration number: 04318927
IV Response Limited
Unaudited filleted financial statements
31 December 2019
IV Response Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
IV Response Limited
Directors and other information
Directors P Bonafin
A Martin
Secretary A Martin
Company number 04318927
Registered office 57-61 Mortimer Street
London
W1W 8HS
IV Response Limited
Statement of financial position
31 December 2019
2019 2018
Note £ £ £ £
Fixed assets
Intangible assets 5 11,271 11,271
Tangible assets 6 233 1,506
_______ _______
11,504 12,777
Current assets
Debtors 7 1,597,434 1,729,752
Cash at bank and in hand 40,817 63,932
_______ _______
1,638,251 1,793,684
Creditors: amounts falling due
within one year 8 ( 88,601) ( 111,952)
_______ _______
Net current assets 1,549,650 1,681,732
_______ _______
Total assets less current liabilities 1,561,154 1,694,509
_______ _______
Net assets 1,561,154 1,694,509
_______ _______
Capital and reserves
Called up share capital 100,000 100,000
Profit and loss account 1,461,154 1,594,509
_______ _______
Shareholders funds 1,561,154 1,694,509
_______ _______
For the year ending 31 December 2019 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.
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.
These financial statements were approved by the board of directors and authorised for issue on 18 June 2020 , and are signed on behalf of the board by:
A Martin
Director
Company registration number: 04318927
IV Response Limited
Notes to the financial statements
Year ended 31 December 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 57-61 Mortimer Street, London, W1W 8HS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and 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 the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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 6 (2018: 7 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 January 2019 and 31 December 2019 11,271 11,271
_______ _______
Amortisation
At 1 January 2019 and 31 December 2019 - -
_______ _______
Carrying amount
At 31 December 2019 11,271 11,271
_______ _______
At 31 December 2018 11,271 11,271
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2019 and 31 December 2019 509,234 84,819 594,053
_______ _______ _______
Depreciation
At 1 January 2019 509,149 83,398 592,547
Charge for the year ( 26) 1,299 1,273
_______ _______ _______
At 31 December 2019 509,123 84,697 593,820
_______ _______ _______
Carrying amount
At 31 December 2019 111 122 233
_______ _______ _______
At 31 December 2018 85 1,421 1,506
_______ _______ _______
7. Debtors
2019 2018
£ £
Trade debtors 14,997 11,778
Other debtors 1,582,437 1,717,974
_______ _______
1,597,434 1,729,752
_______ _______
8. Creditors: amounts falling due within one year
2019 2018
£ £
Trade creditors 19,708 28,220
Social security and other taxes 12,994 16,210
Other creditors 55,899 67,522
_______ _______
88,601 111,952
_______ _______