IST Property Solutions Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07428913 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 OCTOBER 2013

FOR

IST PROPERTY SOLUTIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A J Parker

M Westcott

REGISTERED OFFICE:

Acacia Cottage

Chains Road

Sampford Peverell

Tiverton

Devon

EX16 7EB

REGISTERED NUMBER:

07428913 (England and Wales)

ACCOUNTANTS:

Mortimore & Co

1 Fore Street

Cullompton

Devon

EX15 1JW

FIXED ASSETS

Intangible assets

2

21,000

24,000

Tangible assets

3

5,506

7,342

26,506

31,342

CURRENT ASSETS

Debtors

8,491

12,277

Cash at bank

1,132

6,609

9,623

18,886

CREDITORS

Amounts falling due within one year

20,979

31,586

NET CURRENT LIABILITIES

(11,356

)

(12,700

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,150

18,642

PROVISIONS FOR LIABILITIES

1,101

-

NET ASSETS

14,049

18,642

CAPITAL AND RESERVES

Called up share capital

4

300

300

Profit and loss account

13,749

18,342

SHAREHOLDERS' FUNDS

14,049

18,642

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 October 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 2013 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 profit or loss 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 October 2014 and were signed on its behalf by:

A J Parker - Director

M Westcott - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 31 October 2012

and 30 October 2013

30,000

AMORTISATION

At 31 October 2012

6,000

Amortisation for year

3,000

At 30 October 2013

9,000

NET BOOK VALUE

At 30 October 2013

21,000

At 30 October 2012

24,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 31 October 2012

and 30 October 2013

11,095

DEPRECIATION

At 31 October 2012

3,753

Charge for year

1,836

At 30 October 2013

5,589

NET BOOK VALUE

At 30 October 2013

5,506

At 30 October 2012

7,342

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.10.13

30.10.12

value:

£

£

100

Ordinary

£1

100

100

100

Ordinary B

£1

100

100

100

Ordinary C

£1

100

100

300

300