IBRAHIM AND ADAM LIMITED - Accounts

IBRAHIM AND ADAM LIMITED - Company Information

IBRAHIM AND ADAM LIMITED 05887435 providing dental care false 1 January 2018 05887435 2018-01-01 2018-12-31 05887435 2017-12-31 05887435 2018-12-31 05887435 2017-01-01 2017-12-31 05887435 2016-12-31 05887435 2017-12-31 05887435 frs102-bus:FRS102 2018-01-01 2018-12-31 05887435 frs102-bus:PrivateLimitedCompanyLtd 2018-01-01 2018-12-31 05887435 frs102-bus:FullAccounts 2018-01-01 2018-12-31 05887435 frs102-bus:AuditExemptWithAccountantsReport 2018-01-01 2018-12-31 05887435 frs102-core:CurrentFinancialInstruments 2018-12-31 05887435 frs102-core:CurrentFinancialInstruments 2017-12-31 05887435 frs102-core:Non-currentFinancialInstruments 2018-12-31 05887435 frs102-core:Non-currentFinancialInstruments 2017-12-31 05887435 frs102-core:ShareCapital 2018-12-31 05887435 frs102-core:ShareCapital 2017-12-31 05887435 frs102-core:RetainedEarningsAccumulatedLosses 2018-12-31 05887435 frs102-core:RetainedEarningsAccumulatedLosses 2017-12-31 05887435 frs102-bus:Director1 2018-01-01 2018-12-31 05887435 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2018-01-01 2018-12-31 05887435 frs102-core:NetGoodwill 2017-12-31 05887435 frs102-core:NetGoodwill 2018-12-31 05887435 frs102-core:NetGoodwill 2018-01-01 2018-12-31 05887435 frs102-core:NetGoodwill 2017-12-31 05887435 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2017-12-31 05887435 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2018-12-31 05887435 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2017-12-31 05887435 frs102-core:DeferredTaxation 2018-12-31 05887435 frs102-core:DeferredTaxation 2017-12-31 05887435 frs102-bus:OrdinaryShareClass1 2018-12-31 05887435 frs102-bus:OrdinaryShareClass1 2017-12-31 05887435 frs102-bus:OrdinaryShareClass1 2018-01-01 2018-12-31 xbrli:pure iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares

	Registered number
	05887435

	IBRAHIM AND ADAM LIMITED
	Unaudited Accounts
	for the year ended
	31 December 2018

IBRAHIM AND ADAM LIMITED Balance Sheet as at 31 December 2018
	Notes		2018 £		2017 £
Fixed assets
Intangible assets	3		46,000		51,750
Tangible assets	4		28,254		16,367
			74,254		68,117

Current assets
Stocks	5	3,811		3,646
Debtors	6	5,805		0
Cash at bank and in hand		8,691		16,466
		18,307		20,112

Prepayments and accrued income:		0		400

Creditors: amounts falling due within one year	7	(15,545)		(13,000)

Net current assets / (liabilities)			2,762		7,512

Total assets less current liabilities			77,016		75,629

Creditors: amounts falling due after more than one year	8		(17,728)		(11,281)

Provisions for liabilities	9		(5,086)		(2,766)

Accruals and deferred income			(11,140)		(2,691)

Total net assets (liabilities)			43,062		58,891

Capital and reserves
Called up share capital	10		1,000		1,000
Profit and loss account			42,062		57,891
Shareholders' funds			43,062		58,891

These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 December 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

Signed on behalf of the board of directors

...............................

T Butt

Director

Approved by the board on 26 September 2019

Company Number: 05887435 (a Private Company Limited by Shares registered in England and Wales)

Registered Office:

90 Main Street, Menston
Ilkley
West Yorkshire
LS29 6HY

1.	Accounting policies
	Basis of preparation of financial statements These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.

	Going concern basis
	The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.

	Revenue recognition
	Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.

Fixtures, fittings, tools & equipment

15% Reducing Balance

	Intangible fixed assets
	Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives.

	Stocks
	Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.

Stocks

Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.

	Deferred taxation
	Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.

Deferred taxation

Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.

	Leases and hire purchase contracts
	Assets obtained under hire purchase contracts are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful economic lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are are included in creditors net of finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term.

Leases and hire purchase contracts

Assets obtained under hire purchase contracts are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful economic lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are are included in creditors net of finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme, with contributions charged to the profit and loss account for the year in which they are payable to the scheme.

	Financial instruments
	Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares that are measured at fair value. Derivative financial instruments are initially recorded at cost and thereafter at fair value. All changes in fair value are recognised in the profit or loss account in the period in which they occurred.

Employees
	2018	2017
Average number of employees during the period	4	4

Intangible fixed assets
	Goodwill	Total
Cost	£	£
At 1 January 2018	115,000	115,000
At 31 December 2018	115,000	115,000
Amortisation
At 1 January 2018	63,250	63,250
Provided during the period	5,750	5,750
At 31 December 2018	69,000	69,000
Net book value
At 31 December 2018	46,000	46,000
At 31 December 2017	51,750	51,750

Tangible fixed assets
	Fixtures, fittings, tools & equipment	Total
Cost or valuation	£	£
At 1 January 2018	50,059	50,059
Additions	16,873	16,873
At 31 December 2018	66,932	66,932
Depreciation
At 1 January 2018	33,692	33,692
Charge for the period	4,986	4,986
At 31 December 2018	38,678	38,678
Net book value
At 31 December 2018	28,254	28,254
At 31 December 2017	16,367	16,367

Stocks
	2018	2017
	£	£
Finished goods	3,811	3,646
	3,811	3,646

Debtors
	2018	2017
	£	£
Other debtors	5,805	0
	5,805	0

Creditors: amounts falling due within one year
	2018	2017
	£	£
Bank Loans & Overdrafts	5,048	5,048
Taxation & social security	856	2,345
Other creditors	9,641	5,607
	15,545	13,000

Creditors: amounts falling due after one year
	2018	2017
	£	£
Bank Loans & overdrafts	6,233	11,281
Other	11,495	0
	17,728	11,281

Provisions
	2018	2017
	£	£
Deferred tax	5,086	2,766
	5,086	2,766

Share capital
	2018	2017
	£	£
Allotted, called up and fully paid:
1,000 (2017: 1,000) Ordinary shares of £1.00 each	1,000	1,000

	1,000	1,000