INITIAL DIRECT LIMITED

INITIAL DIRECT LIMITED

INITIAL DIRECT LIMITED - Company Information

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INITIAL DIRECT LIMITED

Company Registration Number:
04158606 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2021

Period of accounts

Start date: 01 March 2020

End date: 28 February 2021

INITIAL DIRECT LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2021

Balance sheet
Notes

INITIAL DIRECT LIMITED

Balance sheet

As at 28 February 2021


Notes
2021
2020


£
£
Called up share capital not paid: 284,566
Current assets
Debtors: 3 10,516,582 9,397,767
Investments: 4 2,706 2,706
Total current assets: 10,519,288 9,400,473
Net current assets (liabilities): 10,519,288 9,400,473
Total assets less current liabilities: 10,803,854 9,400,473
Creditors: amounts falling due after more than one year: 5 (10,251,312) (8,843,931)
Total net assets (liabilities): 552,542 556,542
Capital and reserves
Called up share capital: 650,000 650,000
Profit and loss account: (97,458) (93,458)
Shareholders funds: 552,542 556,542

The notes form part of these financial statements

INITIAL DIRECT LIMITED

Balance sheet statements

For the year ending 28 February 2021 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 November 2021
and signed on behalf of the board by:

Name: Borja Thyssen Bornemisza Cervera
Status: Director

The notes form part of these financial statements

INITIAL DIRECT LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Turnover policy

Is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognized when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognized 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.

INITIAL DIRECT LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

2. Employees

2021 2020
Average number of employees during the period 0 0

INITIAL DIRECT LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

3. Debtors

2021 2020
££
Debtors due after more than one year: 10,516,582 9,397,767

INITIAL DIRECT LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

4. Current investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

INITIAL DIRECT LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2021

5. Creditors: amounts falling due after more than one year note

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognized at transaction price net of any transaction costs and subsequently measured at amortized cost determined using the effective interest method.