iVOW Wedding Planner Ltd - Period Ending 2017-10-31

Registration number: 09837522

iVOW Wedding Planner Ltd

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2017

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

iVOW Wedding Planner Ltd

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Statement of Changes in Equity	4
Notes to the Financial Statements	5 to 7

iVOW Wedding Planner Ltd

Company Information

Directors

Mr Lawrence Wilson Mr Colin Bennett Mr Kim Jackson Mr Robyn John Hughes

Registered office

Severn House Hazell Drive Newport South Wales NP10 8FY

Accountants

HSJ Accountants Ltd Severn House Hazell Drive Newport South Wales NP10 8FY

Page 1

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
iVOW Wedding Planner Ltd
for the Year Ended 31 October 2017

As described on the balance sheet you are responsible for the compilation of the accounts for the year ended 31 October 2017, as set out on pages 3 to 7, and you consider that the company is exempt from an audit. In accordance with your instructions we have compiled the unaudited accounts from the accounting records and from information and explanations supplied to us.

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

5 July 2018

Page 2

iVOW Wedding Planner Ltd

(Registration number: 09837522)
Balance Sheet as at 31 October 2017

	Note	2017 £	2016 £
Creditors: Amounts falling due within one year	5	(1,436)	(1,436)
Capital and reserves
Called up share capital	6	4	4
Profit and loss account		(1,440)	(1,440)
Total equity		(1,436)	(1,436)

For the financial year ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 July 2018 and signed on its behalf by:
 

.........................................

Mr Kim Jackson

Director

The notes on pages 5 to 7 form an integral part of these financial statements.

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iVOW Wedding Planner Ltd

Statement of Changes in Equity for the Year Ended 31 October 2017

	Share capital £	Profit and loss account £	Total £
At 1 November 2016	4	(1,440)	(1,436)
At 31 October 2017	4	(1,440)	(1,436)

	Share capital £	Profit and loss account £	Total £
Loss for the year	-	(1,440)	(1,440)
Total comprehensive income	-	(1,440)	(1,440)
New share capital subscribed	4	-	4
At 31 October 2016	4	(1,440)	(1,436)

The notes on pages 5 to 7 form an integral part of these financial statements.

Page 4

iVOW Wedding Planner Ltd

Notes to the Financial Statements for the Year Ended 31 October 2017

1	General information

The company registration number is: 09837522

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

These financial statements were authorised for issue by the Board on 5 July 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company reserves are negative at the balance sheet date. However, the company started to trade in November 2017 and the directors are confident that the next year the company will become profitable. As a result ,the financial statements have been prepared on a going concern basis.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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iVOW Wedding Planner Ltd

Notes to the Financial Statements for the Year Ended 31 October 2017

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 4 (2016 - 4).

4

Debtors

	2017 £	2016 £
Total current trade and other debtors	-	-

5

Creditors

	Note	2017 £	2016 £
Due within one year
Loans and borrowings	7	1,436	1,060
Taxation and social security		-	376
		1,436	1,436

6	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary of £1 each	4	4	4	4

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iVOW Wedding Planner Ltd

Notes to the Financial Statements for the Year Ended 31 October 2017

7	Loans and borrowings

	2017 £	2016 £
Current loans and borrowings
Director current account	1,436	1,060

8	Related party transactions

Transactions with directors

2016

Other transactions with directors

During the year a director, C Bennett, made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date the carrying value was £1,436 (2016 - £1,060).

9	Transition to FRS 102

These financial statements for the year ended 31st October 2017 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 22nd October 2015.

The transition to FRS 102 Section 1A small entities has resulted in no changes to the accounting policies to those used previously. There were also no restatements or remeasurements required to the profit and loss account or the balance sheet for the previous or current accounting periods.

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