Instant Promotion (UK) Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06685264 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2017

for

Instant Promotion (UK) Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTORS:

Mr B Smith

Mr J Law

REGISTERED OFFICE:

91 Soho Hill

Hockley

Birmingham

West Midlands

B19 1AY

BUSINESS ADDRESS:

Unit 7 Liberty Industrial Park

South Liberty Lane

Bristol

Gloucestershire

BS3 2SU

REGISTERED NUMBER:

06685264 (England and Wales)

ACCOUNTANTS:

Anil K Bhagi Chartered Accountants

and Registered Auditors

91 Soho Hill

Hockley

Birmingham

West Midlands

B19 1AY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Instant Promotion (UK) Ltd for the year ended 30 September 2017 which comprise the Income

Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Instant Promotion (UK) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Instant Promotion (UK) Ltd and state those matters that we have agreed to state to the Board of Directors of Instant Promotion (UK) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Instant Promotion (UK) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Instant Promotion (UK) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Instant Promotion (UK) Ltd. You consider that Instant Promotion (UK) Ltd 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 financial statements of Instant Promotion (UK) Ltd. 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 financial statements.

Anil K Bhagi Chartered Accountants

and Registered Auditors

91 Soho Hill

Hockley

Birmingham

West Midlands

B19 1AY

4 May 2018

FIXED ASSETS

Tangible assets

4

63,913

45,981

CURRENT ASSETS

Stocks

5

288,743

148,474

Debtors

6

316,357

257,416

Cash at bank and in hand

116,213

197,304

721,313

603,194

CREDITORS

Amounts falling due within one year

7

154,740

199,975

NET CURRENT ASSETS

566,573

403,219

TOTAL ASSETS LESS CURRENT LIABILITIES

630,486

449,200

CREDITORS

Amounts falling due after more than one year

8

-

(1,802

)

PROVISIONS FOR LIABILITIES

(12,174

)

(8,855

)

NET ASSETS

618,312

438,543

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

618,212

438,443

SHAREHOLDERS' FUNDS

618,312

438,543

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 4 May 2018 and were signed on its behalf by:

Mr J Law - Director

1.	STATUTORY INFORMATION

Instant Promotion (UK) Ltd 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.	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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

in accordance with the property

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is

determined using the first in first out method.

The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is

recognised.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1 October 2016

2,118

54,396

16,220

72,734

Additions

-

19,826

12,995

32,821

At 30 September 2017

2,118

74,222

29,215

105,555

DEPRECIATION

At 1 October 2016

424

19,994

6,335

26,753

Charge for year

211

8,134

6,544

14,889

At 30 September 2017

635

28,128

12,879

41,642

NET BOOK VALUE

At 30 September 2017

1,483

46,094

16,336

63,913

At 30 September 2016

1,694

34,402

9,885

45,981

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 October 2016

and 30 September 2017

16,220

DEPRECIATION

At 1 October 2016

6,336

Charge for year

3,295

At 30 September 2017

9,631

NET BOOK VALUE

At 30 September 2017

6,589

At 30 September 2016

9,884

5.

STOCKS

30.9.17

30.9.16

£

£

Stocks

288,743

148,474

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

200,762

142,202

Amts owed by companies under common cont

99,000

99,000

Prepayments and accrued income

16,595

16,214

316,357

257,416

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Hire purchase contracts

1,802

5,407

Tax

77,570

66,135

Social security and other taxes

64,613

97,296

Other creditors

145

18,869

Directors' current accounts

120

6,369

Accruals and deferred income

10,490

5,899

154,740

199,975

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Hire purchase contracts

-

1,802

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.17

30.9.16

£

£

Hire purchase contracts

1,802

7,209

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.17

30.9.16

value:

£

£

100

Ordinary shares

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 October 2016

438,443

Profit for the year

334,769

Dividends

(155,000

)

At 30 September 2017

618,212

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £155,000 (2016 - £200,000) were paid to the directors .

During the year the company paid consultancy fees to the director Mr B Smith's brother of £88,300 (2015 -

£83,300 ). The company provided services to Instant Promotions Inc for £Nil (2016 - 99,000) a company in

which Mr J Law is a director and shareholder.Included within Debtors : Amounts falling due within one year

;Amounts owed by associates £99,000(2016 - £99,000) relates to the same.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr J Law.

The ultimate controlling party is Mr J Law.