INTUITIVE_INTERIM_&_EXECU - Accounts
INTUITIVE_INTERIM_&_EXECU - Accounts
Company Registration No. 7364147 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF INTUITIVE INTERIM & EXECUTIVE SEARCH LTD FOR THE YEAR ENDED 31 DECEMBER 2014
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Intuitive Interim & Executive Search Ltd for the year ended 31 December 2014 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Intuitive Interim & Executive Search Ltd, as a body, in accordance with the terms of our engagement letter dated 8 June 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Intuitive Interim & Executive Search Ltd and state those matters that we have agreed to state to the Board of Directors of Intuitive Interim & Executive Search Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Intuitive Interim & Executive Search Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Intuitive Interim & Executive Search Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Intuitive Interim & Executive Search Ltd. You consider that Intuitive Interim & Executive Search Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Intuitive Interim & Executive Search Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Moore and Smalley LLP
Chartered Accountants
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
- 2 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(66,980 )
(22,030 )
Net current assets/(liabilities)
(16,486 )
Total assets less current liabilities
(15,898 )
Provisions for liabilities
(79 )
-
4,071
(15,898)
Capital and reserves
Called up share capital
3
Profit and loss account
(15,899 )
Shareholders' funds
(15,898 )
Director's responsibilities:
-
-
Approved by the Board for issue on 9 July 2015
Director
Company Registration No. 7364147
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Computer equipment
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014 & at 31 December 2014
781
Depreciation
At 1 January 2014
193
Charge for the year
195
At 31 December 2014
388
Net book value
At 31 December 2014
393
At 31 December 2013
588
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
4
Directors' benefits: Advances, credits and guarantees
Mrs N Lockwood's director's loan account with the company became overdrawn on 24 April 2014. The loan was repaid in full on 31 July 2014. During this period cash advances totalling £12,000 were made and business expenses totalling £1,022 were paid by the director on behalf of the company. During the same period repayments totalling £27,000 were received. During the period the maximum overdrawn balance was £10,859.
The loan account became overdrawn again on 1 December 2014. The loan was repaid in full on 31 December 2014. During this period cash advances totalling £3,004 were made and business expenses totalling £2,148 were paid by the director on behalf of the company.
The loan account was not overdrawn at any point in the comparative year.
This loan was unsecured and no interest was charged by the company for the period when the loan account was overdrawn.