I Fruit Limited - Period Ending 2017-03-31

Registration number: 08380940

I Fruit Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
East Sussex
BN1 5NP

I Fruit Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Financial Statements	5 to 6

I Fruit Limited

Company Information

Directors

Mr Daniel John Crooks Mr Anastasios Papadopoulos

Registered office

Ifruit Ltd Barham Court Teston Maidstone Kent ME18 5BZ

Accountants

Chisnall Comer Ismail & Co Chartered Accountants Maria House 35 Millers Road Brighton East Sussex BN1 5NP

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
I Fruit Limited
for the Year Ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of I Fruit Limited for the year ended 31 March 2017 as set out on pages 3 to 6 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
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of I Fruit 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 I Fruit Limited and state those matters that we have agreed to state to the Board of Directors of I Fruit Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than I Fruit Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that I Fruit 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 I Fruit Limited. You consider that I Fruit 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 I Fruit 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.

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
East Sussex
BN1 5NP

20 September 2017

Page 2

I Fruit Limited

(Registration number: 08380940)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	3	8,382	6,072
Current assets
Debtors	4	370,017	166,726
Cash at bank and in hand		273,696	185,341
		643,713	352,067
Creditors: Amounts falling due within one year	5	(526,281)	(250,756)
Net current assets		117,432	101,311
Net assets		125,814	107,383
Capital and reserves
Called up share capital		100,000	100,000
Profit and loss account		25,814	7,383
Total equity		125,814	107,383

For the financial year ending 31 March 2017 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 of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 5 to 6 form an integral part of these financial statements.

Page 3

I Fruit Limited

(Registration number: 08380940)
Balance Sheet as at 31 March 2017

Approved and authorised by the Board on 20 September 2017 and signed on its behalf by:



 

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

Mr Daniel John Crooks

Director

The notes on pages 5 to 6 form an integral part of these financial statements.

Page 4

I Fruit Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in Other.

The address of its registered office is:
Ifruit Ltd Barham Court
Teston
Maidstone
Kent
ME18 5BZ
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% Reducing Balance
Office equipment	50% Straight Line

Page 5

I Fruit Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

3	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2016	648	13,327	13,975
Additions	321	5,215	5,536
At 31 March 2017	969	18,542	19,511
Depreciation
At 1 April 2016	324	7,579	7,903
Charge for the year	485	2,741	3,226
At 31 March 2017	809	10,320	11,129
Carrying amount
At 31 March 2017	160	8,222	8,382
At 31 March 2016	324	5,748	6,072

4

Debtors

	2017 £	2016 £
Trade debtors	361,365	161,757
Other debtors	8,652	4,969
Total current trade and other debtors	370,017	166,726

5

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		502,975	159,448
Other creditors		23,306	91,308
		526,281	250,756

6	Transition to FRS 102

The company adopted the accounting standard FRS 102 part 1A during this period. The comparative periods required no adjustments as a result of this change.

Page 6