IBRAHIM AND ADAM LIMITED - Accounts

IBRAHIM AND ADAM LIMITED - Company Information

IBRAHIM AND ADAM LIMITED 05887435 providing dental care false 1 January 2019 05887435 2019-01-01 2019-12-31 05887435 2018-12-31 05887435 2019-12-31 05887435 2018-01-01 2018-12-31 05887435 2017-12-31 05887435 2018-12-31 05887435 frs102-bus:FRS102 2019-01-01 2019-12-31 05887435 frs102-bus:PrivateLimitedCompanyLtd 2019-01-01 2019-12-31 05887435 frs102-bus:FullAccounts 2019-01-01 2019-12-31 05887435 frs102-bus:AuditExemptWithAccountantsReport 2019-01-01 2019-12-31 05887435 frs102-core:CurrentFinancialInstruments 2019-12-31 05887435 frs102-core:CurrentFinancialInstruments 2018-12-31 05887435 frs102-core:Non-currentFinancialInstruments 2019-12-31 05887435 frs102-core:Non-currentFinancialInstruments 2018-12-31 05887435 frs102-core:ShareCapital 2019-12-31 05887435 frs102-core:ShareCapital 2018-12-31 05887435 frs102-core:RetainedEarningsAccumulatedLosses 2019-12-31 05887435 frs102-core:RetainedEarningsAccumulatedLosses 2018-12-31 05887435 frs102-bus:Director1 2019-01-01 2019-12-31 05887435 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2019-01-01 2019-12-31 05887435 frs102-core:NetGoodwill 2018-12-31 05887435 frs102-core:NetGoodwill 2019-12-31 05887435 frs102-core:NetGoodwill 2019-01-01 2019-12-31 05887435 frs102-core:NetGoodwill 2018-12-31 05887435 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2018-12-31 05887435 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2019-12-31 05887435 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2018-12-31 05887435 frs102-core:DeferredTaxation 2019-12-31 05887435 frs102-core:DeferredTaxation 2018-12-31 05887435 frs102-bus:OrdinaryShareClass1 2019-12-31 05887435 frs102-bus:OrdinaryShareClass1 2018-12-31 05887435 frs102-bus:OrdinaryShareClass1 2019-01-01 2019-12-31 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 2019

IBRAHIM AND ADAM LIMITED Balance Sheet as at 31 December 2019
	Notes		2019 £		2018 £
Fixed assets
Intangible assets	3		40,250		46,000
Tangible assets	4		29,674		28,254
			69,924		74,254

Current assets
Stocks		4,058		3,811
Debtors	5	4,700		5,805
Cash at bank and in hand		1,151		8,691
		9,909		18,307

Creditors: amounts falling due within one year	6	(17,911)		(15,545)

Net current assets / (liabilities)			(8,002)		2,762

Total assets less current liabilities			61,922		77,016

Creditors: amounts falling due after more than one year	7		(12,381)		(17,728)

Provisions for liabilities	8		(5,638)		(5,086)

Accruals and deferred income			(11,653)		(11,140)

Total net assets (liabilities)			32,250		43,062

Capital and reserves
Called up share capital	9		1,000		1,000
Profit and loss account			31,250		42,062
Shareholders' funds			32,250		43,062

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 2019 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

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

Dr T Butt

Director

Approved by the board on 14 October 2020

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
	2019	2018
Average number of employees during the period	4	4

Intangible fixed assets
	Goodwill	Total
Cost	£	£
At 1 January 2019	115,000	115,000
At 31 December 2019	115,000	115,000
Amortisation
At 1 January 2019	69,000	69,000
Provided during the period	5,750	5,750
At 31 December 2019	74,750	74,750
Net book value
At 31 December 2019	40,250	40,250
At 31 December 2018	46,000	46,000

Tangible fixed assets
	Fixtures, fittings, tools & equipment	Total
Cost or valuation	£	£
At 1 January 2019	66,932	66,932
Additions	6,657	6,657
At 31 December 2019	73,589	73,589
Depreciation
At 1 January 2019	38,678	38,678
Charge for the period	5,237	5,237
At 31 December 2019	43,915	43,915
Net book value
At 31 December 2019	29,674	29,674
At 31 December 2018	28,254	28,254

Debtors
	2019	2018
	£	£
Trade debtors	4,700	0
Other debtors	0	5,805
	4,700	5,805

Creditors: amounts falling due within one year
	2019	2018
	£	£
Bank Loans & Overdrafts	3,527	5,048
Taxation & social security	4,183	856
Other creditors	10,201	9,641
	17,911	15,545

Creditors: amounts falling due after one year
	2019	2018
	£	£
Bank Loans & overdrafts	3,885	6,233
Other	8,496	11,495
	12,381	17,728

Provisions
	2019	2018
	£	£
Deferred tax	5,638	5,086
	5,638	5,086

Share capital
	2019	2018
	£	£
Allotted, called up and fully paid:
1,000 (2018: 1,000) Ordinary shares of £1.00 each	1,000	1,000

	1,000	1,000