IBP_LTD - Accounts

IBP LIMITED - Company Information

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Company Registration No. 02765423 (England and Wales)

IBP LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

IBP LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

IBP LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

3,970

Tangible assets

5,519

8,599

9,489

12,569

Current assets

Stocks

644

13,175

Debtors

16,955

8,147

Cash at bank and in hand

10,050

65,316

27,649

86,638

Creditors: amounts falling due within one year

(26,720)

(413,619)

Net current assets/(liabilities)

929

(326,981)

Total assets less current liabilities

10,418

(314,412)

Capital and reserves

Called up share capital

165

Profit and loss account

10,253

(314,577)

Shareholders' funds

10,418

(314,412)

For the financial year ended 31 March 2014 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 financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 December 2014

Mrs H Steven

Mr N I Steven

Director

Company Registration No. 02765423

IBP LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Patents

Patents are valued at cost. Amortisation has not been provided as the patents value is expected to continue indefinitely.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

18% on reducing balance

Computer equipment

18% on reducing balance

Fixtures, fittings & equipment

18% on reducing balance

Motor vehicles

18% on reducing balance

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.7

Going Concern

The company has been acquired by new owners and the amounts due to Suretrack Monitoring PLC were waived by Suretrack Monitoring PLC on completion of the acquisition. The directors consider that the company can trade profitably and that it will continue to meet its obligations as they fall due, consequently they continue to adopt the going concern basis in preparing the annual report and accounts.

IBP LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2013

3,970

29,903

33,873

Disposals

(1,869)

At 31 March 2014

3,970

28,034

32,004

Depreciation

At 1 April 2013

21,303

Charge for the year

1,212

At 31 March 2014

22,515

Net book value

At 31 March 2014

3,970

5,519

9,489

At 31 March 2013

3,970

8,599

12,569

Share capital

2014

2013

Allotted, called up and fully paid

16,500 Ordinary shares of 1p each

165