Isle of Wight Enterprise Agency - Limited company accounts 16.1

REGISTERED NUMBER: 01623469 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2016

FOR

ISLE OF WIGHT ENTERPRISE AGENCY

Page

Company Information

1

Report of the Directors

2

Income and Expenditure Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

K Smith

M Humphray

S Porter

D Groocock

REGISTERED OFFICE:

Mill Court

Furrlongs

Newport

Isle of Wight

PO30 2AA

REGISTERED NUMBER:

01623469 (England and Wales)

ACCOUNTANTS:

Harrison Black Limited

Pyle House

136/137 Pyle Street

Newport

Isle of Wight

PO30 1JW

The directors present their report with the financial statements of the company for the year ended 31st March 2016.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2015 to the date of

this report.

K Smith

M Humphray

S Porter

D Groocock

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006

relating to small companies.

ON BEHALF OF THE BOARD:

K Smith - Director

23rd August 2016

TURNOVER

-

Administrative expenses

936

139

OPERATING DEFICIT

2

(936

)

(139

)

Interest receivable and similar income

-

2

DEFICIT ON ORDINARY
ACTIVITIES BEFORE TAXATION

(936

)

(137

)

Tax on deficit on ordinary activities

3

-

DEFICIT FOR THE FINANCIAL
YEAR

(936

)

(137

)

CURRENT ASSETS

Debtors

4

110

-

Cash at bank

507

5,066

617

5,066

CREDITORS

Amounts falling due within one year

5

19

3,532

NET CURRENT ASSETS

598

1,534

TOTAL ASSETS LESS CURRENT
LIABILITIES

598

1,534

RESERVES

Other reserves

6

10,000

Income and expenditure account

6

(9,402

)

(8,466

)

598

1,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its surplus or deficit for each financial year in accordance with
the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 23rd August 2016 and were signed on
its behalf by:

K Smith - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

2.	OPERATING DEFICIT

The operating deficit is stated after charging:

2016

2015

£

Directors' remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 31st March 2016 nor

for the year ended 31st March 2015.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Other debtors

110

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Taxation and social security

19

Other creditors

-

3,513

19

3,532

6.

RESERVES

Income

and

expenditure

Other

account

reserves

Totals

£

At 1st April 2015

(8,466

)

10,000

1,534

Deficit for the year

(936

)

(936

)

At 31st March 2016

(9,402

)

10,000

598

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Isle of Wight Chamber of Commerce who is the sole member of

the company.

8.	OTHER RESERVES

Other reserves is money given to the company by the Isle of Wight Development Fund as a specific

fund to provide small business loans.