Inheritance Data Limited - Accounts

Inheritance Data Limited - Accounts

INHERITANCE DATA LIMITED - Company Information

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Registered Number: 09450050
England and Wales

 

 

 

INHERITANCE DATA LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

Inheritance Data Limited
Contents Page
For the year ended 31 March 2021
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Aldous & Saunders Ltd
31 March 2021



....................................................
Aldous & Saunders Ltd
First Floor Vanquish House
Wellesley Road Long Stratton
Norwich
Norfolk
NR15 2PD
17 May 2021
1
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 3 7,996    2,810 
7,996    2,810 
Current assets      
Debtors 49,571    26,545 
Cash at bank and in hand (19,775)   (32,999)
29,796    (6,454)
Creditors: amount falling due within one year (25,204)   (39,568)
Net current assets 4,592    (46,022)
 
Total assets less current liabilities 12,588    (43,212)
Creditors: amount falling due after more than one year (219,433)   (178,000)
Net liabilities (206,845)   (221,212)
 

Capital and reserves 		     
Called up share capital 4 100    100 
Profit and loss account (206,945)   (221,312)
Shareholders funds (206,845)   (221,212)
 


For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 17 May 2021 and were signed on its behalf by:


--------------------------------
Bruce Cane
Director
2
General Information
Inheritance Data Limited is a private company, limited by shares,registered in England and Wales,registration number 09450050,registration address Unit 14 Philip Ford Way, Silfield, Wymondham, Norfolk, NR8 9AQ

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant & Machinery/Website 50% Straight line

Computer equipment 25% Straight line
Fixtures & Fittings 25% Reducing balance
Plant and Machinery 25% Straight Line
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 50% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Preference shares
The company's preference shares are treated as a financial liability since they are subject to mandatory redemption for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the statement of financial position rather than as part of the company's issued share capital.
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 April 2020 19,102    1,184    840    21,126 
Additions 7,925    -    4,743    12,668 
Disposals -    -    -    - 
At 31 March 2021 27,027    1,184    5,583    33,794 
Depreciation
At 01 April 2020 17,000    738    578    18,316 
Charge for year 6,065    96    1,321    7,482 
On disposals -    -    -    - 
At 31 March 2021 23,065    834    1,899    25,798 
Net book values
Closing balance as at 31 March 2021 3,962    350    3,684    7,996 
Opening balance as at 01 April 2020 2,102    446    262    2,810 

The net book value of Computer Equipment includes £3,684(2020 £262) in respect of assets leased under finance leases or hire purchase contracts.

3.

Share Capital

Authorised
90 Class A shares of £1.00 each
5 Class C shares of £1.00 each
5 Class D shares of £1.00 each
Allotted, called up and fully paid
2021
£		   2020
£
90 Class A shares of £1.00 each 90    90 
5 Class C shares of £1.00 each 5    5 
5 Class D shares of £1.00 each 5    5 
100    100 

4.

Staff Costs

2021   2020
 
Average number of employees during the year Number   Number
Sales 5    5 
Marketing 1    0 
6    5 

5.

Average number of employees

Average number of employees during the year was 6 (2020 : 5).
3