IDPartnership-London Limited Company Accounts

IDPARTNERSHIP-LONDON LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06848670

IDPartnership-London Limited

Filleted Unaudited Financial Statements

31 March 2017

IDPartnership-London Limited

Financial Statements

Year ended 31 March 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

IDPartnership-London Limited

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Current assets

Debtors	4	485	1,028
Cash at bank and in hand		100	100
		----	-------
		585	1,128

Creditors: amounts falling due within one year	5	481		1,025
		----		-------
Net current assets			104	103
			----	----
Total assets less current liabilities			104	103
			----	----
Net assets			104	103
			----	----

Capital and reserves

Called up share capital	100	100
Profit and loss account	4	3
	----	----
Shareholders funds	104	103
	----	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

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 financial statements were approved by the board of directors and authorised for issue on 21 December 2017 , and are signed on behalf of the board by:

Mr J Haynes
Director

Company registration number: 06848670

IDPartnership-London Limited

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 Spon Street, Coventry, CV1 3BA, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Debtors

	2017	2016
	£	£
Other debtors	485	1,028
	----	-------

5. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	–	544
Corporation tax	1	1
Other creditors	480	480
	----	-------
	481	1,025
	----	-------

6. Related party transactions

The company was under the control of J Haynes throughout the current and previous year. Mr Haynes is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 section 33a. IDP Central Limited A company in which J Haynes has a significant interest. During the year the company made sales totalling 3,261 (2016 - £3,666) to IDP Central Limited. At the year end the company was owed £485 (2016 - £1,028) by IDP Central Limited.