Interactive Education Solutions Limited

INTERACTIVE EDUCATION SOLUTIONS LIMITED - Company Information

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Registered number: 06029246

Abbreviated accounts

For The Year Ended 31 December 2015

Clear Accountancy Services Limited

Chartered Certified Accountants

e-Innovation Centre

Priorslee

Telford

Shropshire

TF2 9FT

Interactive Education Solutions Limited

Company No. 06029246

Abbreviated Balance Sheet 31 December 2015

Abbreviated Balance Sheet

		2015		2014
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		325,275		314,041

			325,275		314,041
CURRENT ASSETS
Debtors		440,074		590,919
Cash at bank and in hand		114,163		8,807

		554,237		599,726
Creditors: Amounts Falling Due Within One Year		(463,619)		(519,968)

NET CURRENT ASSETS (LIABILITIES)			90,618		79,758

TOTAL ASSETS LESS CURRENT LIABILITIES			415,893		393,799

Creditors: Amounts Falling Due After More Than One Year	3		(240,528)		(255,298)

PROVISIONS FOR LIABILITIES
Deferred Taxation			(5,315)		(2,954)

NET ASSETS			170,050		135,547

CAPITAL AND RESERVES
Called up share capital	4		2		2
Profit and Loss Account			170,048		135,545

SHAREHOLDERS' FUNDS			170,050		135,547

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Interactive Education Solutions Limited

Company No. 06029246

Abbreviated Balance Sheet (continued) 31 December 2015

For the year ending 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mrs Mandeesh Kaur

16 June 2016

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Interactive Education Solutions Limited

Notes to the Abbreviated Accounts

For The Year Ended 31 December 2015

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Research and Development

Expenditure on research and development is written off in the year it is incurred.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% straight line
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25 % staight line

Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

Deferred Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

Government grant

Grants from the government are recognised as a receivable at their fair value when there is reasonable assurance that the grant will be received and the company will comply with all the attached conditions.

Government grants receivable are recognised as income over the period necessary to match them with related costs which they are intended to compensate, on a systematic basic. Government grants relating to expenses are shown separately as other income.

Government grants relating to assets are deducted against the carrying amount of the assets.

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Interactive Education Solutions Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 December 2015

Tangible Assets


	Total
Cost	£
As at 1 January 2015	325,071
Additions	26,314

As at 31 December 2015	351,385

Depreciation
As at 1 January 2015	11,030
Provided during the period	15,080

As at 31 December 2015	26,110

Net Book Value
As at 31 December 2015	325,275

As at 1 January 2015	314,041

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2015	2014
	£	£
Motor Vehicles	17,597	14,768

Creditors: Amounts Falling Due After More Than One Year

	2015	2014
	£	£
Net obligations under finance lease and hire purchase contracts	10,207	11,554
Bank loans	230,321	243,744

	240,528	255,298

Of the creditors falling due within and after more than one year the following amounts are due after more than five years.

	2015		2014
	£		£
Bank loans and overdrafts	176,839		-

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Interactive Education Solutions Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 December 2015

Secured Creditors

Of the creditors falling due within and after more than one year the following amounts are secured.

A debenture on the bank's standard form.

A fixed and floating charge over Unit 3 Newton Court, Pendeford Business Park, Wolverhamption on the bank's standad form.

A fixed and floating charge over Unit 8 Newton Court, Pendeford Business Park, Wolverhampton on the bank's standard form.

	2015		2014
	£		£
Bank loans and overdrafts	176,839		204,089

Share Capital

	Value	Number	2015	2014
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	2	2	2

Transactions With and Loans to Directors

Dividends paid to directors

Ultimate Controlling Party

The company's is controlling by Mrs M Kaur, by virtue of her ownership of 100% of the issued share capital in the company.

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