Iodem Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07373373 (England and Wales)

Financial Statements for the Year Ended 31 October 2017

for

IODEM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr M R Hawthorne

Mrs J M Hawthorne

SECRETARY:

Mrs J M Hawthorne

REGISTERED OFFICE:

8 Stonebridge

DARLINGTON

Co. Durham

DL1 1PB

REGISTERED NUMBER:

07373373 (England and Wales)

ACCOUNTANTS:

King Hope

Chartered Accountants

31-33 Victoria Road

Darlington

Co. Durham

DL1 5SB

FIXED ASSETS

Tangible assets

4

7,589

9,408

CURRENT ASSETS

Debtors

5

433,806

392,065

Cash at bank

135,617

15,170

569,423

407,235

CREDITORS

Amounts falling due within one year

6

90,998

50,093

NET CURRENT ASSETS

478,425

357,142

TOTAL ASSETS LESS CURRENT LIABILITIES

486,014

366,550

PROVISIONS FOR LIABILITIES

1,442

1,882

NET ASSETS

484,572

364,668

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

484,372

364,468

SHAREHOLDERS' FUNDS

484,572

364,668

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 15 June 2018 and were signed on its behalf by:

Mrs J M Hawthorne - Director

1.	STATUTORY INFORMATION

Iodem 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

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.

Fixtures and fittings

-

20% on reducing balance

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.

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 year 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date

of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Government grants

Government grants received are credited to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 November 2016

19,379

Additions

70

At 31 October 2017

19,449

DEPRECIATION

At 1 November 2016

9,971

Charge for year

1,889

At 31 October 2017

11,860

NET BOOK VALUE

At 31 October 2017

7,589

At 31 October 2016

9,408

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

185,205

194,324

Amounts owed by associated companies

97,914

94,819

Other debtors

7,151

1,485

Directors' current accounts

91,127

-

Prepayments and accrued income

52,409

101,437

433,806

392,065

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

20,283

9,727

Corporation tax

47,834

18,708

Social security and other taxes

15,882

8,332

Other creditors

-

131

Accruals and deferred income

6,999

13,195

90,998

50,093

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2017 and

31 October 2016:

2017

2016

£

£

Dr M R Hawthorne

Balance outstanding at start of year

-

(4,946

)

Amounts advanced

44,865

(30,906

)

Amounts repaid

(14,054

)

35,852

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

30,811

-

Mrs J M Hawthorne

Balance outstanding at start of year

-

-

Amounts advanced

60,316

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

60,316

-

The loans were interest free.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £54,330 were paid to the directors .

9.	TRANSITION TO FRS 102

These financial statements for the year ended 31 October 2017 are the first financial statements that comply with

FRS102. The company's date of transition to FRS102 is 1 November 2015. The company's last financial

statements prepared in accordance with previous UK GAAP were for the year ended 31 October 2016.

The transition to FRS 102 has not resulted in any changes in the company's accounting policies compared to those

used when applying previous UK GAAP. The balance sheets as at 1 November 2015 and 31 March October

2016 have therefore not been required to be restated.