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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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1plus1 Loans Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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1plus1 Loans Ltd |
1plus1 Loans Ltd (Registered number: 08387053) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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1plus1 Loans Ltd |
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Company Information |
for the Year Ended 31 March 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
The Old Tannery |
Eastgate |
Accrington |
Lancashire |
BB5 6PW |
1plus1 Loans Ltd (Registered number: 08387053) |
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Balance Sheet |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
1plus1 Loans Ltd (Registered number: 08387053) |
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Balance Sheet - continued |
31 March 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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1plus1 Loans Ltd (Registered number: 08387053) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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1plus1 Loans Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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During the period the company met its day to day working capital requirements by the financial support of its |
directors. The directors have agreed to continue to support the company by way of loans to the company. |
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On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The |
financial statements do not include any adjustments that would result from a withdrawal of this support. |
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Turnover |
Turnover represents contractual interest and fees earned in line with the term and size of loan. Interest income |
consists of interest calculated on a daily basis. Other fee income is recognised at the point when these fees |
become applicable to a specific loan agreement, for example on arrangement or at the point of default. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition on a business, has been fully amortised. |
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Tangible fixed assets |
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Plant and machinery | - |
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Taxation |
Taxation for the year comprises current and deferred 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
1plus1 Loans Ltd (Registered number: 08387053) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
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AMORTISATION |
At 1 April 2016 |
and 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
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COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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7. | DEBTORS |
2017 | 2016 |
£ | £ |
Amounts falling due within one year: |
Amounts receivable from |
customers |
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Other debtors |
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1plus1 Loans Ltd (Registered number: 08387053) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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7. | DEBTORS - continued |
2017 | 2016 |
£ | £ |
Amounts falling due after more than one year: |
Amounts receivable from |
customers |
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Aggregate amounts |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Other creditors | 494,565 | - |
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The other creditors are secured on the amounts receivable from customers. |
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11. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by P McKenna, L McKenna and G McKenna, due to their shareholding in the |
holding company. |
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12. | FIRST YEAR ADOPTION |
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This is the company's first set of financial statements prepared under FRS102. The date of transition to FRS102 |
was 1 April 2015. The accounting policies are unchanged and there are no changes to profits and equity as |
previously reported. |
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