Index Partners International Ltd Filleted accounts for Companies House (small and micro)

INDEX PARTNERS INTERNATIONAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06948021

Index Partners International Ltd

Filleted Unaudited Financial Statements

30 June 2021

Index Partners International Ltd

Statement of Financial Position

30 June 2021

	2021		2020
Note	£	£	£

Fixed assets

Tangible assets	5		36	54

Current assets

Debtors	6	193	319
Cash at bank and in hand		8	–
		----	----
		201	319

Creditors: amounts falling due within one year	7	1,458		2,114
		-------		-------
Net current liabilities			1,257	1,795
			-------	-------
Total assets less current liabilities			( 1,221)	( 1,741)

Provisions

Taxation including deferred tax	8	11
	-------	-------
Net liabilities	( 1,229)	( 1,752)
	-------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 1,329)	( 1,852)
	-------	-------
Shareholders deficit	( 1,229)	( 1,752)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Index Partners International Ltd

Statement of Financial Position (continued)

30 June 2021

These financial statements were approved by the board of directors and authorised for issue on 11 May 2022 , and are signed on behalf of the board by:

Mr J Ilahi
Director

Company registration number: 06948021

Index Partners International Ltd

Notes to the Financial Statements

Year ended 30 June 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, Sutherland House, 5-6 Argyll Street, London, W1F 7TE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year in respect of management consultancy services carried on from the company's base in Bahrain.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

		-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 July 2020 and 30 June 2021	1,333	1,333
	-------	-------
Depreciation
At 1 July 2020	1,279	1,279
Charge for the year	18	18
	-------	-------
At 30 June 2021	1,297	1,297
	-------	-------
Carrying amount
At 30 June 2021	36	36
	-------	-------
At 30 June 2020	54	54
	-------	-------

6. Debtors

	2021	2020
	£	£
Other debtors	193	319
	----	----

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	–	676
Other creditors	1,458	1,438
	-------	-------
	1,458	2,114
	-------	-------

Included in 'Other Creditor' is a Director Loan Account of £8 (2020: £8).