ACCOUNTS - Final Accounts preparation

IJK E&P CONSULTANTS LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueConsultancy servicesfalse2017-04-01Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. 09954806 2017-04-01 2018-03-31 09954806 2018-03-31 09954806 2017-03-31 09954806 c:Director1 2017-04-01 2018-03-31 09954806 d:CurrentFinancialInstruments 2018-03-31 09954806 d:CurrentFinancialInstruments 2017-03-31 09954806 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 09954806 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 09954806 d:ShareCapital 2018-03-31 09954806 d:ShareCapital 2017-03-31 09954806 d:RetainedEarningsAccumulatedLosses 2018-03-31 09954806 d:RetainedEarningsAccumulatedLosses 2017-03-31 09954806 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2018-03-31 09954806 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-03-31 09954806 c:FRS102 2017-04-01 2018-03-31 09954806 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 09954806 c:AbridgedAccounts 2017-04-01 2018-03-31 09954806 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP

Registered number: 09954806

IJK E&P CONSULTANTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018


IJK E&P CONSULTANTS LIMITED REGISTERED NUMBER:09954806

BALANCE SHEET

AS AT 31 MARCH 2018

		2018		2017
Note		£		£


Current assets
Cash at bank and in hand	4	33,249		41,487
		33,249		41,487
Creditors: amounts falling due within one year	5	(18,830)		(32,437)
Net current assets			14,419		9,050
Total assets less current liabilities			14,419		9,050
Net assets			14,419		9,050

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		14,319	8,950
		14,419	9,050

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IJK E&P CONSULTANTS LIMITED REGISTERED NUMBER:09954806

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2018

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 December 2018.

John Kendal

Director

The notes on pages 3 to 5 form part of these financial statements.

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IJK E&P CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

1.	General information

The Company is incorporated in England and Wales and is limited by shares. The registered office is located at Yew Tree House, Lewes Road, Forest Row, East Sussex, RH18 5AA.
The company’s principal activity is that of consultancy services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash

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IJK E&P CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.4

Financial instruments (continued)

flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Employees

The average monthly number of employees, including directors, during the year was 0 (2017 - 0).

4.	Cash and cash equivalents
		2018	2017
		£	£

Cash at bank and in hand	33,249	41,487
	33,249	41,487

5.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Corporation tax	10,525	9,504
Other creditors	6,072	20,760
Accruals and deferred income	2,233	2,173
	18,830	32,437

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IJK E&P CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

6.	Financial instruments
		2018	2017
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	33,249	41,487

	Financial assets measured at fair value through profit or loss comprise solely of cash.

7.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

100 (2017 - 100) Ordinary shares of £1.00 each	100	100

8.	Transactions with directors

Included in other creditors due within one year is a loan from the director, Mr J Kendal, amounting to £(6,072) [2017 - (20,760)].

9.	Controlling party

The company was controlled throughout the current period by its director, Mr J Kendal, by virtue of the fact that between them he owns all of the company’s ordinary issued share capital.

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