Company Registration No. 04523011 (England and Wales)
Iam By Nature LTD.
Unaudited accounts
for the year ended 31 August 2019
Iam By Nature LTD.
Unaudited accounts
Contents
Iam By Nature LTD.
Company Information
for the year ended 31 August 2019
Director
Mai Abdulatif Aljadawi
Company Number
04523011 (England and Wales)
Registered Office
28 Old Brompton Road
Suite 253
London
SW7 3SS
England
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Iam By Nature LTD.
Statement of financial position
as at 31 August 2019
Cash at bank and in hand
1,719
8,114
Creditors: amounts falling due within one year
(424,355)
(276,022)
Net current liabilities
(422,577)
(267,908)
Net liabilities
(422,288)
(267,467)
Called up share capital
4
4
Share premium
448,798
448,798
Profit and loss account
(871,090)
(716,269)
Shareholders' funds
(422,288)
(267,467)
For the year ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 May 2021 and were signed on its behalf by
Mai Abdulatif Aljadawi
Director
Company Registration No. 04523011
Iam By Nature LTD.
Notes to the Accounts
for the year ended 31 August 2019
Iam By Nature LTD. is a private company, limited by shares, registered in England and Wales, registration number 04523011. The registered office is 28 Old Brompton Road, Suite 253, London, SW7 3SS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line at 25%
Computer equipment
Straight line at 25%
Expenditure on research and development is written off in the year in which it is incurred. Where appropriate, development expenditure is capitalised and amortised over its useful economic life.
Research and development tax credit
During the financial year, Iam By Nature LTD received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Iam By Nature LTD.
Notes to the Accounts
for the year ended 31 August 2019
Following a review of the prior year accounts, a number of errors were noted across various financial statement line items. These have been adjusted retrospectively resulting in an impact on the prior year balances as follows:
Loss for the year - decrease of £115,140
Total assets - decrease of £201,933
Total liabilities - decrease of £502,393
Shareholders' funds - decrease of £300,460
4
Tangible fixed assets
Total
At the year end, Pension Commitments of £232 (31 August 2018: £274) were outstanding.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
(260,130)
(146,109)
-
(406,238)
(260,130)
(146,109)
-
(406,238)
7
Average number of employees
During the year the average number of employees was 4 (2018: 4).
