Idexea Limited - Accounts to registrar (filleted) - small 18.1
Idexea Limited - Accounts to registrar (filleted) - small 18.1
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017 |
FOR |
IDEXEA LIMITED |
IDEXEA LIMITED (REGISTERED NUMBER: 05771078) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2017 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
IDEXEA LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 October 2017 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
IDEXEA LIMITED (REGISTERED NUMBER: 05771078) |
ABRIDGED BALANCE SHEET |
31 October 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 on |
IDEXEA LIMITED (REGISTERED NUMBER: 05771078) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2017 |
1. | STATUTORY INFORMATION |
Idexea Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company and rounded to |
the nearest £. |
Turnover |
Turnover, which represents IT consulting services, is recognised, excluding value added tax, when it is probable |
that an economic benefit will flow to the company and the revenue and costs can be reliably measured. For |
continuing services, revenue is recognised when the stage of completion can be reliably measured using a |
percentage of completion method. |
Tangible fixed assets |
Computer equipment | - |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual |
provisions of the instrument and are offset only when the company currently has a legally enforceable right to set |
off the recognised amounts and intends either to settle on a net basis or to realise the asset and settle the liability |
simultaneously. |
Debtors which are receivable within one year and which do not constitute a financing transaction are initially |
measured at the transaction price. Debtors are subsequently measured at amortised cost, being the transaction |
price less any amounts settled any impairment losses. |
A provision for impairment of debtors is established when there is evidence that the amounts due will not be |
collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for |
the excess of the carrying value of the debtor over the present value of the future cash flows discounted using the |
original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event |
accruing after the impairment loss was recognised are recognised immediately in profit or loss. |
Creditors which are payable within one year and which do not constitute a financing transaction are initially |
measured at the transaction price and subsequently measured at amortised cost, being the transaction price less |
any amounts settled. |
Taxation |
Taxation for the year comprises current 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 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. |
IDEXEA LIMITED (REGISTERED NUMBER: 05771078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2017 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
Cost |
At 1 November 2016 |
Additions |
Disposals | ( |
) |
At 31 October 2017 |
Depreciation |
At 1 November 2016 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 October 2017 |
Net book value |
At 31 October 2017 |
At 31 October 2016 |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
IDEXEA LIMITED (REGISTERED NUMBER: 05771078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2017 |
6. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 October 2017 and |
31 October 2016: |
2017 | 2016 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
The loan carried interest at 2.5% and was repaid in full after the year end. |
7. | TRANSITION TO FRS102 |
This is the first year that the company has presented its results in accordance with the provisions of Section 1A of |
Financial Reporting Standard 102 'FRS 102'. The last financial statements under the previous UK GAAP were |
for the year ended 31 October 2016 and the date of the transition to Section 1A of FRS 102 was 1 November |
2016. |
As a result of the change to the new UK GAAP, we are required to prepare a reconciliation of the profit for the |
financial year ended 31 October 2016 and the total equity as at 1 November 2015 and 31 October 2016 between |
UK GAAP as previously reported and under Section 1A FRS 102 in these financial statements. |
Preparation of the results for the comparative year in accordance with Section 1A FRS 102 has not resulted in |
any changes to the results compared to those presented under previous UK GAAP. Therefore it has not been |
necessary to present a reconciliation of movements in equity in these financial statements. |