Company Registration No. 04532330 (England and Wales)
IWC ESTATE PLANNING & MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017
PAGES FOR FILING WITH REGISTRAR
IWC ESTATE PLANNING & MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
IWC ESTATE PLANNING & MANAGEMENT LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2017
30 September 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Intangible assets
4
2,700
2,850
Tangible assets
5
13,558
12,445
Current assets
Debtors
6
158,875
116,107
Cash at bank and in hand
196,611
184,900
355,486
301,007
Creditors: amounts falling due within one year
7
(70,348)
(59,996)
Net current assets
285,138
241,011
Total assets less current liabilities
301,396
256,306
Provisions for liabilities
(3,089)
(2,489)
Net assets
298,307
253,817
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
298,207
253,717
Total equity
298,307
253,817
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
The notes on pages 3 - 6 form an integral part of these financial statements.
For the financial year ended 30 September 2017 the company was entitled to exemption from audit under section 477 of the 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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime
and FRS102 Section 1A
IWC ESTATE PLANNING & MANAGEMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2017
30 September 2017
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 17 May 2018
Mr T S Crocker
Director
Company Registration No. 04532330
IWC ESTATE PLANNING & MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017
- 3 -
1
Accounting policies
Company information
IWC Estate Planning & Management Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Airport House, Suite 43-45, Purley Way, Croydon, Surrey, CR0 0XZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 30 September 2017
are the
first
financial statements of IWC Estate Planning & Management Limited prepared in accordance with FRS 102
Section 1A small entities, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 Section 1A small entities was 1 October 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102 Section 1A small entities .
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Deferred tax
Deferred tax is recognized in respect of all material timing differences that have originated but not reversed at the balance sheet date.
IWC ESTATE PLANNING & MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2017
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 9 (2016 - 9).
2017
2016
Number
Number
Director
1
1
Employees
8
8
9
9
3
Dividends
2017
2016
£
£
Interim paid
27,000
29,500
4
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2016 and 30 September 2017
3,000
Amortisation and impairment
At 1 October 2016
150
Amortisation charged for the year
150
At 30 September 2017
300
Carrying amount
At 30 September 2017
2,700
At 30 September 2016
2,850
IWC ESTATE PLANNING & MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2017
- 5 -
5
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 October 2016
17,729
5,750
23,479
Additions
5,632
-
5,632
At 30 September 2017
23,361
5,750
29,111
Depreciation and impairment
At 1 October 2016
9,595
1,438
11,033
Depreciation charged in the year
3,442
1,078
4,520
At 30 September 2017
13,037
2,516
15,553
Carrying amount
At 30 September 2017
10,324
3,234
13,558
At 30 September 2016
8,133
4,312
12,445
6
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
56,663
24,476
Other debtors
98,607
88,214
Prepayments and accrued income
3,605
3,417
158,875
116,107
The director considers the carrying value of trade and other receivables approximate to their fair values.
7
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
4,749
6,522
Corporation tax
17,185
18,474
Other taxation and social security
41,435
24,488
Other creditors
3,515
5,350
Accruals and deferred income
3,464
5,162
70,348
59,996
The director considers the carrying amounts of current liabilities approximate to their fair values.
IWC ESTATE PLANNING & MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2017
- 6 -
8
Provisions for liabilities
2017
2016
£
£
Deferred tax liabilities
3,089
2,489
9
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
100
100
10
Related party relationships and transactions
During the year dividend of £27,000 (2016: £29,500) was paid to T S Crocker, director of the company.
At the balance sheet date, included in other
p
ayables are amounts payable to the director of £2,646 (2016: £672).
Included in other receivables is £56,510 (2016: £55,850) due by Develop by Design Ltd, a company owned
and controlled by the director Tony Crocker.
Also included in other receivables is £36,227 (2016: £30,444) due by Fleetwood Heir Hunting Services Ltd, a company owned and controlled by the director Tony Crocker.
11
Controlling party
The ultimate controlling party is Mr T Crocker, the managing director and holder of 100% of the issued share capital.