I.D. Systems ( Uk) Ltd - Accounts to registrar (filleted) - small 18.2
I.D. Systems ( Uk) Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
FOR |
I.D. SYSTEMS ( UK) LTD |
I.D. SYSTEMS ( UK) LTD (REGISTERED NUMBER: 04001259) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
I.D. SYSTEMS ( UK) LTD |
COMPANY INFORMATION |
for the year ended 31 December 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
10 St Ann Street |
Salisbury |
Wiltshire |
SP1 2DN |
BANKERS: |
2-6 High Street |
Salisbury |
Wiltshire |
SP1 2NP |
I.D. SYSTEMS ( UK) LTD (REGISTERED NUMBER: 04001259) |
BALANCE SHEET |
31 December 2017 |
31.12.17 | 31.12.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
I.D. SYSTEMS ( UK) LTD (REGISTERED NUMBER: 04001259) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2017 |
1. | STATUTORY INFORMATION |
I.D. Systems ( Uk) Ltd is a |
company's registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principle place of business is Linford Forum, Milton Keynes, England. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is the amount receivable for the provision of goods and services falling within the Company's ordinary |
activities, excluding actual sales returns and value added tax. |
Turnover comprises of the sale of good and equipment leases. |
The company recognises income at the point where it obtains the right to consideration. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
The company holds stock of components and consumables. Certain components are subject to technological |
obsolescence and in these circumstances these items have been valued by the directors at the lower of cost or |
net realisable value. |
Parts and components are issued to production on a first in first out basis. |
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. |
I.D. SYSTEMS ( UK) LTD (REGISTERED NUMBER: 04001259) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2017 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet 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. |
Going concern |
The financial statements have been prepared on a going concern basis, which assumes that the company will |
continue in existence for the foreseeable future. |
The parent company has declared its intention to continue to support the company for the foreseeable future |
and will not require repayment of its loans within a period of 15 months following the date of signing these |
accounts, unless its cash flow permits such a payment to be made without impacting upon its ability to continue |
to trade. |
The directors' consider that in preparing the financial statements they have taken into account all information |
that could reasonably be expected to be available. On this basis they consider that it is appropriate to prepare |
the financial statements on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2017 |
and 31 December 2017 |
DEPRECIATION |
At 1 January 2017 |
Charge for year |
At 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
At 31 December 2016 |
5. | DEBTORS |
31.12.17 | 31.12.16 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
I.D. SYSTEMS ( UK) LTD (REGISTERED NUMBER: 04001259) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2017 |
5. | DEBTORS - continued |
31.12.17 | 31.12.16 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | ULTIMATE PARENT COMPANY |
The ultimate parent company is I.D. Systems Inc,a company registered in the |