Abbreviated Company Accounts - ID-DIRECT LTD

04576262 ID-DIRECT LTD 2014-12-31 false 2014-01-01 2014-12-31 true 04576262 2014-01-01 2014-12-31 04576262 2014-12-31 04576262 2013-12-31 04576262 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 04576262 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 iso4217:GBP shares

Registered Number 04576262

ID-DIRECT LTD

Abbreviated Accounts

31 December 2014

ID-DIRECT LTD Registered Number 04576262

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	36,000	40,500
Tangible assets	3	14,653	17,239
		50,653	57,739
Current assets
Stocks		75,065	46,900
Debtors		67,015	67,929
Cash at bank and in hand		105,428	85,133
		247,508	199,962
Creditors: amounts falling due within one year		(202,869)	(195,931)
Net current assets (liabilities)		44,639	4,031
Total assets less current liabilities		95,292	61,770
Provisions for liabilities		(2,708)	(3,176)
Total net assets (liabilities)		92,584	58,594
Capital and reserves
Called up share capital	4	2	2
Profit and loss account		92,582	58,592
Shareholders' funds		92,584	58,594

For the year ending 31 December 2014 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 18 June 2015

And signed on their behalf by:
G Willson, Director

ID-DIRECT LTD Registered Number 04576262

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

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

Fixtures fittings & equipment 15% reducing balance

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

Other accounting policies
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.

2Intangible fixed assets

	£
Cost
At 1 January 2014	90,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	90,000
Amortisation
At 1 January 2014	49,500
Charge for the year	4,500
On disposals	-
At 31 December 2014	54,000
Net book values
At 31 December 2014	36,000
At 31 December 2013	40,500

Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years

3Tangible fixed assets

	£
Cost
At 1 January 2014	36,317
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	36,317
Depreciation
At 1 January 2014	19,078
Charge for the year	2,586
On disposals	-
At 31 December 2014	21,664
Net book values
At 31 December 2014	14,653
At 31 December 2013	17,239

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
2 Ordinary shares of £1 each	2	2