Idappcom Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06829932 (England and Wales)

Unaudited Financial Statements for the Year Ended 29 February 2020

for

Idappcom Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R J Bryant

SECRETARY:

R J Bryant

REGISTERED OFFICE:

66 Prescot Street

London

E1 8NN

REGISTERED NUMBER:

06829932 (England and Wales)

ACCOUNTANTS:

Jeffrey Crawford & Co

Chartered Accountants

25 Castle Terrace

Edinburgh

EH1 2ER

FIXED ASSETS

Intangible assets

5

99,770

118,153

Tangible assets

6

1,324

3,432

101,094

121,585

CURRENT ASSETS

Stocks

42,645

47,586

Debtors

7

55,277

105,274

Cash at bank

4,461

8,688

102,383

161,548

CREDITORS

Amounts falling due within one year

8

390,158

412,528

NET CURRENT LIABILITIES

(287,775

)

(250,980

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(186,681

)

(129,395

)

CAPITAL AND RESERVES

Called up share capital

1,863

1,863

Retained earnings

(188,544

)

(131,258

)

SHAREHOLDERS' FUNDS

(186,681

)

(129,395

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 July 2020 and were signed by:

R J Bryant - Director

1.	STATUTORY INFORMATION

Idappcom Ltd. 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 the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

These accounts have been prepared on the going concern basis. The director acknowledge that the balance sheet

shows net liabilities but has confirmed his intention to support the company as a going concern.

Significant judgements and estimates

Preparing the financial statements may require the directors to make significant judgements and estimates. There

were no items in the financial statements where these judgements and estimates were required.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable

for goods supplied and services rendered, stated net of discounts and of VAT.

Income is recognised when goods and services have been delivered to customers.

Intangible assets

Intangible assets, which consist of purchased IP and other rights and development costs, are capitalized at cost over

their useful economic lives of 20 years.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have

suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected

asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying

amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the

Income Statement.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred except where the

expenditure relates to identifiable projects where there is reasonable certainty that future revenues will exceed the

development costs, in which cases the costs are capitalised as intangible assets and written off over the period in

which the revenues from such projects are receivable.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets

and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to

related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in

profit or loss.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 6 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2019

and 29 February 2020

214,023

AMORTISATION

At 1 March 2019

95,870

Charge for year

18,383

At 29 February 2020

114,253

NET BOOK VALUE

At 29 February 2020

99,770

At 28 February 2019

118,153

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2019

and 29 February 2020

9,541

DEPRECIATION

At 1 March 2019

6,109

Charge for year

2,108

At 29 February 2020

8,217

NET BOOK VALUE

At 29 February 2020

1,324

At 28 February 2019

3,432

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

10,572

12,765

Other debtors

44,705

92,509

55,277

105,274

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

873

15,621

Taxation and social security

3,700

13,299

Other creditors

385,585

383,608

390,158

412,528

9.	RENTAL COMMITMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

1,120

5,600

Between one and five years

-

1,120

1,120

6,720