Company Registration No. 06041203 (England and Wales)
IS INDEPENDENT FINANCIAL ADVISERS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
IS INDEPENDENT FINANCIAL ADVISERS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
IS INDEPENDENT FINANCIAL ADVISERS LTD
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,286
5,888
Current assets
Debtors
167,550
166,485
Cash at bank and in hand
26,309
15,479
193,859
181,964
Creditors: amounts falling due within one year
(114,446)
(103,032)
Net current assets
79,413
78,932
Total assets less current liabilities
84,699
84,820
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
84,599
84,720
Shareholders' funds
84,699
84,820
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 March 2017
Mr Phillip Illingworth
Director
Company Registration No. 06041203
IS INDEPENDENT FINANCIAL ADVISERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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 less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% reducing balance
Computer equipment
33 1/3% straight line
Fixtures, fittings & equipment
25% reducing balance
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 July 2015 & at 30 June 2016
120,000
19,260
139,260
Depreciation
At 1 July 2015
120,000
13,371
133,371
Charge for the year
-
603
603
At 30 June 2016
120,000
13,974
133,974
Net book value
At 30 June 2016
-
5,286
5,286
At 30 June 2015
-
5,888
5,888
IS INDEPENDENT FINANCIAL ADVISERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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