Intuition Languages Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02685909

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Intuition Languages Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

DIRECTOR:

N E Renshaw

SECRETARY:

Mrs A E Yanez - Renshaw

REGISTERED OFFICE:

3 Boyne Park

Tunbridge Wells

Kent

TN4 8EN

BUSINESS ADDRESS:

Kingsmill

4 Ravey Street

London

EC2A 4QP

REGISTERED NUMBER:

02685909

ACCOUNTANTS:

Deeks Evans

Chartered Accountants

3 Boyne Park

Tunbridge Wells

Kent

TN4 8EN

The following reproduces the text of the report prepared for the director 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 Statement of Financial Position. Readers are cautioned that the Income Statement and

certain other primary statements and the Report of the Director 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 Intuition Languages Limited for the year ended 31 March 2018 which comprise the Statement of

Income and Retained Earnings, Statement of Financial Position 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 director of Intuition Languages Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Intuition Languages Limited and state those matters that we have agreed to state to the director of Intuition Languages Limited 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 Intuition Languages Limited and its director for our work or for this report.

It is your duty to ensure that Intuition Languages Limited 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 Intuition Languages Limited. You consider that Intuition Languages Limited 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 Intuition Languages Limited. 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.

Deeks Evans

Chartered Accountants

3 Boyne Park

Tunbridge Wells

Kent

TN4 8EN

25 July 2018

FIXED ASSETS

Intangible assets

4

48,000

60,000

Tangible assets

5

5,064

8,262

Investments

6

10

10

53,074

68,272

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

7

90,164

90,026

Cash at bank and in hand

105,997

133,592

201,161

228,618

CREDITORS

Amounts falling due within one year

8

250,797

213,897

NET CURRENT (LIABILITIES)/ASSETS

(49,636

)

14,721

TOTAL ASSETS LESS CURRENT LIABILITIES

3,438

82,993

PROVISIONS FOR LIABILITIES

9

700

1,316

NET ASSETS

2,738

81,677

CAPITAL & RESERVES

Called up share capital

10

2

2

Retained earnings

11

2,736

81,675

SHAREHOLDERS' FUNDS

2,738

81,677

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 25 July 2018 and were signed by:

N E Renshaw - Director

1.	STATUTORY INFORMATION

Intuition Languages Limited is a private company, limited by shares , registered in Not specified/Other. 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 represents net invoiced sales of services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

15% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Foreign currencies

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

statement of financial position 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.

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 14 (2017 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

240,000

AMORTISATION

At 1 April 2017

180,000

Charge for year

12,000

At 31 March 2018

192,000

NET BOOK VALUE

At 31 March 2018

48,000

At 31 March 2017

60,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Computer

& fittings

equipment

Totals

£

£

£

COST

At 1 April 2017

23,685

111,407

135,092

Additions

1,016

1,989

3,005

At 31 March 2018

24,701

113,396

138,097

DEPRECIATION

At 1 April 2017

21,291

105,539

126,830

Charge for year

791

5,412

6,203

At 31 March 2018

22,082

110,951

133,033

NET BOOK VALUE

At 31 March 2018

2,619

2,445

5,064

At 31 March 2017

2,394

5,868

8,262

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

10

NET BOOK VALUE

At 31 March 2018

10

At 31 March 2017

10

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

34,466

38,527

Other debtors

55,698

51,499

90,164

90,026

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

10,454

24,847

Corporation tax

8,553

15,784

Social security & other taxes

4,909

4,431

Other creditors

86,060

56,039

Directors' current accounts

85,466

55,688

Accruals & deferred income

55,355

57,108

250,797

213,897

9.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred taxation

700

1,316

Deferred

tax

£

Balance at 1 April 2017

1,316

Provided during year

(616

)

Movement in year

Balance at 31 March 2018

700

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Retained

earnings

£

At 1 April 2017

81,675

Profit for the year

21,061

Dividends

(100,000

)

At 31 March 2018

2,736

12.	RELATED PARTY DISCLOSURES

Mr N Renshaw

Director

N Renshaw, director, and his spouse received dividends totalling £100,000 (2016: £219,700).

Rent totalling £45,000 (2016: £45,000) was paid to Intuition Languages Executive Pension Scheme.

13.	ULTIMATE CONTROLLING PARTY

The company is owned and controlled by the director.