Company Registration No. 04655605 (England and Wales)
ISUZ LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
ISUZ LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
ISUZ LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
398,593
-
Tangible assets
2
23,136
5,272
Investments
2
101
-
421,830
5,272
Current assets
Stocks
6,382
5,002
Debtors
577,571
328,442
Cash at bank and in hand
1,749,228
1,601,338
2,333,181
1,934,782
Creditors: amounts falling due within one year
(1,619,704)
(1,330,944)
Net current assets
713,477
603,838
Total assets less current liabilities
1,135,307
609,110
Creditors: amounts falling due after more than one year
(405,381)
(210,101)
Provisions for liabilities
(4,627)
(1,000)
725,299
398,009
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
725,199
397,909
Shareholders' funds
725,299
398,009
ISUZ LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
31 December 2014
- 2 -
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 15 April 2015
Tim Perkin
Director
Company Registration No. 04655605
ISUZ LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company has had a profitable year and the directors believe that this will continue for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. in respect of software development and implementation.
in respect of software development and implementation.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 4 years.
of 4 years.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
50% straight line
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
ISUZ LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost
At 1 January 2014
-
14,429
-
14,429
Additions
415,923
34,293
557,745
1,007,961
Disposals
-
(1,703)
(415,923)
(417,626)
At 31 December 2014
415,923
47,019
141,822
604,764
Depreciation
At 1 January 2014
-
9,157
-
9,157
On disposals
-
(1,453)
-
(1,453)
Charge for the year
17,330
16,179
141,721
175,230
At 31 December 2014
17,330
23,883
141,721
182,934
Net book value
At 31 December 2014
398,593
23,136
101
421,830
At 31 December 2013
-
5,272
-
5,272
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Advent Information Technology Limited
England & Wales
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2014
2014
Principal activity
£
£
Advent Information Technology Limited
dormant
101
76,997
On 31 October 2014 the company acquired the shares of Advent Information Technology Limited. On 31 December 2014 the assets and liabilities of Advent Information Technology Limited were hived up into Isuz Limited.
ISUZ LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 5 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
10,000 Ordinary shares of 1p each
100
100
4
Ultimate parent company
The company is controlled by the director, David Gove who owns 81% of the issued share capital.