Indusol Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09901738

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Indusol Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P E Sobhkhiz

M E Farsian

REGISTERED OFFICE:

8B Accommodation Road

Golders Green

London

NW11 8ED

REGISTERED NUMBER:

09901738

ACCOUNTANTS:

Faiz & Co. Limited

Chartered Accountants

8B Accommodation Road

London

NW11 8ED

FIXED ASSETS

Tangible assets

4

2,738

-

CURRENT ASSETS

Stocks

-

24,772

Debtors

5

239,684

207,727

Cash at bank and in hand

7,316

9,818

247,000

242,317

CREDITORS

Amounts falling due within one year

6

339,971

248,285

NET CURRENT LIABILITIES

(92,971

)

(5,968

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(90,233

)

(5,968

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(90,235

)

(5,970

)

(90,233

)

(5,968

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 20 March 2018 and were signed on its behalf by:

M E Farsian - Director

1.	STATUTORY INFORMATION

Indusol Ltd 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 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.

Plant and machinery etc

-

25% on reducing balance

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 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.

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 6 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

3,650

At 31 December 2017

3,650

DEPRECIATION

Charge for year

912

At 31 December 2017

912

NET BOOK VALUE

At 31 December 2017

2,738

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/17

31/12/16

£

£

Trade debtors

238,998

201,869

Other debtors

686

5,858

239,684

207,727

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/17

31/12/16

£

£

Trade creditors

193,383

75,432

Taxation and social security

4,915

4,608

Other creditors

141,673

168,245

339,971

248,285

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the end of the accounting period the company owes the directors' parents £136,620.98 They have

voted to forgo to collect an amount equal to the negative balance sheet value in favour of creditors.