ACCOUNTS - Final Accounts

IVYDEAL INVESTMENTS LIMITED - Company Information

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Registered number: 3396065

IVYDEAL INVESTMENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2018

IVYDEAL INVESTMENTS LIMITED

REGISTERED NUMBER: 3396065

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2018

		2018		2017
Note		£		£

Fixed assets
Tangible assets	4		68,855		41,638
Current assets
Stocks		190,698		551,994
Debtors: amounts falling due within one year	5	1,753		-
Cash at bank and in hand	6	515,759		655
		708,210		552,649
Creditors: amounts falling due within one year	7	(620,084)		(589,319)
Net current assets/(liabilities)			88,126		(36,670)
Total assets less current liabilities			156,981		4,968

Net assets			156,981		4,968

Capital and reserves
Called up share capital	8	2	2
Profit and loss account		156,979	4,966
		156,981	4,968

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 December 2018.

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IVYDEAL INVESTMENTS LIMITED

REGISTERED NUMBER: 3396065

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2018

N D Jamieson

Director

The notes on pages 3 to 6 form part of these financial statements.

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IVYDEAL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

1.	General information

Ivydeal Limited is a private company limited by shares. The registered office is at Priory House, 45-51 High Street, reigate, Surrey RH2 9AE.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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IVYDEAL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold land and buildings

Over the term of the lease

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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IVYDEAL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2017 - 1).

4.	TANGIBLE FIXED ASSETS

		L/Term Leasehold Property
		£
	Cost or valuation
	At 1 April 2017	43,823
	Additions	27,942
	At 31 March 2018	71,765
	Depreciation
	At 1 April 2017	2,185
	Charge for the year on owned assets	725
	At 31 March 2018	2,910
	Net book value
	At 31 March 2018	68,855
	At 31 March 2017	41,638

The net book value of land and buildings may be further analysed as follows:
	2018	2017
	£	£

	Long leasehold	68,855	41,638

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IVYDEAL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Debtors

					2018	2017
					£	£


Trade debtors	1,753	-

6.	Cash and cash equivalents
		2018	2017
		£	£

	Cash at bank and in hand	515,759	655

7.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Corporation tax	35,828	2,248
Other creditors	577,578	584,671
Accruals and deferred income	6,678	2,400
	620,084	589,319

8.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

2 (2017 - 2) Ordinary shares of £1.00 each	2	2

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