IProcure Solutions Ltd - Period Ending 2015-09-30

Registration number: 07013817

IProcure Solutions Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

IProcure Solutions Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

IProcure Solutions Ltd
(Registration number: 07013817)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					877			945
Current assets
Debtors					1,895			17,805
Cash at bank and in hand					90,667			220,091
					92,562			237,896
Creditors: Amounts falling due within one year					(16,059)			(48,832)
Net current assets					76,503			189,064
Net assets					77,380			190,009
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					76,380			189,009
Shareholders' funds					77,380			190,009

For the year ending 30 September 2015 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 director acknowledges his 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 director on 14 June 2016

.........................................
Mr Paul Kimber
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

IProcure Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance
Computer equipment	33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

IProcure Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		4,828			4,828
Additions		292			292
At 30 September 2015		5,120			5,120
Depreciation
At 1 October 2014		3,883			3,883
Charge for the year		360			360
At 30 September 2015		4,243			4,243
Net book value
At 30 September 2015		877			877
At 30 September 2014		945			945

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

4	Going concern

The director has reviewed the twelve months ahead and considered the company's financial position and notes no material uncertainties that may cast significant doubt about the ability of it to continue as a going concern.

Page 3