IP EXPERTS LTD - Accounts

Registered number

06441537

IP EXPERTS LTD

Report and Accounts

30 November 2013

IP EXPERTS LTD
Report and accounts
Contents




Page

Director's report	2
Profit and loss account	5
Balance sheet	6
Notes to the accounts	7

IP EXPERTS LTD
Registered number:		06441537
Director's Report

The director presents his report and accounts for the year ended 30 November 2013.

Principal activities
The company's principal activity during the year continued to be IT Solution

Directors
The following persons served as directors during the year:

	Nayyar Hakeem-Habeeb

Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 25 August 2014 and signed on its behalf.





Nayyar Hakeem-Habeeb
Director

IP EXPERTS LTD
Profit and Loss Account
for the year ended 30 November 2013


Notes		2013		2012
£			£

Turnover		111,666		55,800

Cost of sales		(6,445)		-

Gross profit		105,221		55,800

Administrative expenses		(68,389)		(67,331)

Operating profit/(loss)	2	36,832		(11,531)


Profit/(loss) on ordinary activities before taxation		36,832		(11,531)

Tax on profit/(loss) on ordinary activities	3	(5,864)		-

Profit/(loss) for the financial year		30,968		(11,531)

IP EXPERTS LTD
Balance Sheet
as at 30 November 2013

Notes			2013			2012
£				£
Fixed assets
Tangible assets	4		5,632			7,040

Current assets
Debtors	5	3,461			-
Cash at bank and in hand		470			(3,473)
		3,931			(3,473)

Creditors: amounts falling due within one year	6	(8,731)			(15,500)

Net current liabilities			(4,800)			(18,973)

Net assets/(liabilities)			832			(11,933)

Capital and reserves
Share premium	7		1			1
Profit and loss account	8		831			(11,934)

Shareholder's funds			832			(11,933)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.




Nayyar Hakeem-Habeeb
Director
Approved by the board on 25 August 2014

IP EXPERTS LTD
Notes to the Accounts
for the year ended 30 November 2013

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery	20% straight line
	Motor vehicles	25% straight line


2	Operating profit		2013		2012
£				£
	This is stated after charging:

	Depreciation of owned fixed assets		1,408		3,135


3	Taxation		2013		2012
£				£

	UK corporation tax		5,864		-


4	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 December 2012				15,677
	At 30 November 2013				15,677

	Depreciation
	At 1 December 2012				8,637
	Charge for the year				1,408
	At 30 November 2013				10,045

	Net book value
	At 30 November 2013				5,632
	At 30 November 2012				7,040


5	Debtors		2013		2012
£				£

	Trade debtors		3,461		-


6	Creditors: amounts falling due within one year		2013		2012
£				£

	Trade creditors		-		15,500
	Corporation tax		7,530		-
	Other taxes and social security costs		1,201		-
			8,731		15,500


7	Share premium		2013
£

	At 1 December 2012		1

	At 30 November 2013		1


8	Profit and loss account		2013
£

	At 1 December 2012		(11,934)
	Profit for the year		30,968
	Dividends		(18,203)

	At 30 November 2013		831


9	Dividends		2013		2012
£				£

	Dividends for which the company became liable during the year:
	Dividends paid		18,203		-