Instinctive Business Intelligence Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC529957 (Scotland)

Unaudited Financial Statements

for the Period 17 March 2016 to 31 March 2017

for

Instinctive Business Intelligence Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J McFadden

S J Henry

REGISTERED OFFICE:

27 Waterloo Street

Cadell House

Suite 1/2

Glasgow

G2 6BZ

REGISTERED NUMBER:

SC529957 (Scotland)

ACCOUNTANTS:

Campbell Dallas Limited

Accountants

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

FIXED ASSETS

Tangible assets

5

3,664

CURRENT ASSETS

Stocks

52,230

Debtors

6

114,432

Cash at bank

25,911

192,573

CREDITORS

Amounts falling due within one year

7

210,220

NET CURRENT LIABILITIES

(17,647

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,983

)

PROVISIONS FOR LIABILITIES

733

NET LIABILITIES

(14,716

)

CAPITAL AND RESERVES

Called up share capital

8

2

Retained earnings

(14,718

)

SHAREHOLDERS' FUNDS

(14,716

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 September 2017 and were signed on its behalf by:

S J Henry - Director

1.	STATUTORY INFORMATION

Instinctive Business Intelligence Ltd is a private company, limited by shares , registered in Scotland.

The company's registered number and registered office address can be found on the Company

Information page.

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a Going Concern basis and the company will continue

to trade with the support of its directors.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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 cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the period end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

Additions

4,889

At 31 March 2017

4,889

DEPRECIATION

Charge for period

1,225

At 31 March 2017

1,225

NET BOOK VALUE

At 31 March 2017

3,664

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

54,432

Other debtors

60,000

114,432

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

218

Social security and other taxes

20,435

VAT

35,287

Other creditors

3,737

Directors' loan accounts

147,993

Accrued expenses

2,550

210,220

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

£1

2

9.	RELATED PARTY DISCLOSURES

The company owes its directors £147,993 as at 31 March 2017. This balance is interest free with no

fixed date of repayment.