I-Partners Insurance Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06607674 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

I-PARTNERS INSURANCE MANAGEMENT LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D I Hall

Mr J R Houlder

REGISTERED OFFICE:

11 Leadenhall Street

London

EC3V 1LP

REGISTERED NUMBER:

06607674 (England and Wales)

ACCOUNTANTS:

Acuity Professional (Uckfield) LLP

4A Kingfisher Court

Brambleside

Bellbrook Business Park

Uckfield

East Sussex

TN22 1QQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

316

422

316

422

CURRENT ASSETS

Debtors

6

13,400

9,128

Cash at bank

41,535

24,272

54,935

33,400

CREDITORS

Amounts falling due within one year

7

42,840

30,139

NET CURRENT ASSETS

12,095

3,261

TOTAL ASSETS LESS CURRENT LIABILITIES

12,411

3,683

CAPITAL AND RESERVES

Called up share capital

8

6

6

Retained earnings

9

12,405

3,677

SHAREHOLDERS' FUNDS

12,411

3,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 10 August 2018 and were signed on its behalf by:

Mr D I Hall - Director

1.	STATUTORY INFORMATION

I-Partners Insurance Management Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is Sterling (£), rounded to the nearest whole Pound.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of insurance advisors and agents.

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.

The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain critical

accounting estimates. It also requires management to exercise judgement in applying the company's accounting

policies.

ACCOUNTING ESTIMATES AND JUDGEMENTS

In preparing the financial statements, the directors are required to make estimates and judgements about the carrying

amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on

historical experience and other factors that are considered by the directors to be relevant. Revision to accounting

estimates are recognised in the period in which the estimate is revised.

TURNOVER

Turnover represents the value of work performed during the year with respect to services.

SOFTWARE DEVELOPMENT COSTS

Software development costs incurred have been capitalised and have been amortised over their useful economic life

of 3 years on a straight line basis.

TANGIBLE FIXED ASSETS

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

Computer equipment

-

25% on reducing balance

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a

legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price

including transaction costs and are subsequently carried at amortised cost using the effective interest method unless

the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are

not amortised.

CLASSIFICATION OF FINANCIAL LIABILITIES

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements

entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the

future payment is discounted at a market rate of interest. Financial liabilities classified as payable within one year

are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price

and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

Cost

At 1 July 2017

and 30 June 2018

13,926

Amortisation

At 1 July 2017

and 30 June 2018

13,926

Net book value

At 30 June 2018

-

At 30 June 2017

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

Cost

At 1 July 2017

and 30 June 2018

1,778

Depreciation

At 1 July 2017

1,356

Charge for year

106

At 30 June 2018

1,462

Net book value

At 30 June 2018

316

At 30 June 2017

422

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

12,680

8,428

Other debtors

720

700

13,400

9,128

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1,230

-

Tax

6,294

9,269

Social security and other taxes

468

714

Directors' current accounts

197

1,013

Accruals and deferred income

34,651

19,143

42,840

30,139

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

6

Ordinary

£1

6

6

9.

RESERVES

Retained

earnings

£

At 1 July 2017

3,677

Profit for the year

26,728

Dividends

(18,000

)

At 30 June 2018

12,405

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £18,000 (2017 - £42,000) were paid to the directors .

At the balance sheet date, the company owed £Nil (2017: £408) to Mr. D I Hall, a director of the company.

At the balance sheet date, the company owed £197 (2017: £607) to Mr. J R Houlder, a director of the company.

11.	ULTIMATE CONTROLLING PARTY