iBalance Limited - Period Ending 2015-12-31

Registration number: 03449506

iBalance Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Manson Accountants Ltd
Chartered Accountants
8 Kings Road
Clifton
Bristol
Bristol
BS8 4AB

iBalance Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
iBalance Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of iBalance Limited for the year ended 31 December 2015 set out on pages 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of iBalance Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of iBalance Limited and state those matters that we have agreed to state to them, 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 iBalance Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that iBalance Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of iBalance Limited. You consider that iBalance Limited 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 accounts of iBalance Limited. 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 accounts.

......................................

Manson Accountants Ltd
Chartered Accountants
8 Kings Road
Clifton
Bristol
Bristol
BS8 4AB

29 August 2016

Page 1

iBalance Limited
(Registration number: 03449506)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Current assets
Debtors					538,656			745,017
Cash at bank and in hand					216,245			146,546
					754,901			891,563
Creditors: Amounts falling due within one year					(749,973)			(871,692)
Net assets					4,928			19,871
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					3,928			18,871
Shareholders' funds					4,928			19,871

For the year ending 31 December 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 her 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 29 August 2016

.........................................
Ms S Misra
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

iBalance Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and 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
Plant and machinery	Straight line 25%

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

Pensions

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Page 3

iBalance Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		1,132			1,132
At 31 December 2015		1,132			1,132
Depreciation
At 1 January 2015		1,132			1,132
At 31 December 2015		1,132			1,132
Net book value
At 31 December 2015		-			-
At 31 December 2014		-			-

3	Share capital

Allotted, called up and fully paid shares

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

4	Analysis of net debt

	At 1 January 2015 £	Cash flow £	At 31 December 2015 £
Cash at bank and in hand	146,546	69,699	216,245
Net funds	146,546	69,699	216,245

5

Control

The company is controlled by the shareholders. No shareholder has ultimate control.

Page 4