IFS Computing Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 01522092 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

IFS COMPUTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs M R Smith

SECRETARY:

Mrs M R Smith

REGISTERED OFFICE:

2a Chequers Court

Huntingdon

Cambridgeshire

PE29 3LJ

REGISTERED NUMBER:

01522092 (England and Wales)

ACCOUNTANTS:

HW Huntingdon Limited

2a Chequers Court

Huntingdon

Cambridgeshire

PE29 3LJ

CURRENT ASSETS

Investments

4

66,000

57,870

Cash in hand

7,550

4,350

73,550

62,220

CREDITORS

Amounts falling due within one year

5

27,894

27,894

NET CURRENT ASSETS

45,656

34,326

TOTAL ASSETS LESS CURRENT LIABILITIES

45,656

34,326

CAPITAL AND RESERVES

Called up share capital

6

2

2

Fair value reserve

38,000

29,870

Retained earnings

7,654

4,454

SHAREHOLDERS' FUNDS

45,656

34,326

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 3 May 2018 and were signed by:

Mrs M R Smith - Director

1.	STATUTORY INFORMATION

IFS Computing Limited is a private company, limited by shares , registered in England and Wales. 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 Companies Act 2006

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year, and have also been consistently applied within the same

accounts.

Compliance with accounting standards

These financial statements have been prepared in accordance with the provisions of Section 1A "Smaller

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland" and the Companies Act 2006.

There were no material departures from that standard.

Transition to FRS 102

These financial statements for the year ended 30 November 2017 are the first financial statements that comply

with FRS 102 Section 1A small entities. The date of transition is 1 December 2016.

The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting

policies to those used previously, however there has been no material impact on the financial statements.

First year adoption

The company has adopted FRS 102 for the first time in the year ended 30 November 2017.

The effect of the transition from the previous financial reporting framework to FRS 102 has been considered.

Restatement has been undertaken in the comparative year in respect of investments now held at fair value with

any gains or losses being recognised in the profit and loss. There has been no material impact on the

shareholders funds as a result.

Taxation

Taxation for the year 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.

4.	CURRENT ASSET INVESTMENTS

Market value of listed investments at 30 November 2017 - £66,000 (2016 - £57,870 )

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Loan from Lohmacs Ltd

27,894

27,894

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.17

30.11.16

value:

£

£

2

Ordinary

£1

2

2

7.	RELATED PARTY DISCLOSURES

LOHMACS Limited

A company in which Mrs M R Smith is a director.

Included in other creditors is a loan from LOHMACS Limited totalling £27,984 (2016-£27,984). The loan is

interest free and repayable on demand.

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mrs M R Smith by virtue of her shareholding in the holding company,

LOHMACS Limited.