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Unaudited Financial Statements for the Year Ended 31 October 2018 |
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IDENTYSOL LIMITED |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 October 2018 |
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for |
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IDENTYSOL LIMITED |
IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Contents of the Financial Statements |
for the year ended 31 October 2018 |
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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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IDENTYSOL LIMITED |
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Company Information |
for the year ended 31 October 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Balance Sheet |
31 October 2018 |
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2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Balance Sheet - continued |
31 October 2018 |
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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 director on
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IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Notes to the Financial Statements |
for the year ended 31 October 2018 |
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1. | STATUTORY INFORMATION |
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Identysol Limited is a private company, limited by shares, registered in England and Wales. The company's |
registered number, registered office address and business address can be found on the Company Information |
page. |
The presentational currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements and estimates and |
these estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting |
estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or |
in the period of the revision and future periods if the revision affects both current and future periods. |
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The items in the financial statements where these judgements and estimates have been made include the useful |
economic life of intangible and tangible fixed assets, the amortisation and depreciation of these assets, |
provisions and the recoverability of debtors. |
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Turnover |
Turnover represents the fair value of consideration receivable net of VAT and trade discounts. |
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Revenue for Other Software Consultancy And Supply is recognised as contract activity progresses. Revenue not |
billed is included in debtors and payments on account in excess of the relevant amount of revenue are included |
in creditors. |
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Intangible assets |
Amortisation is provided at the following annual rates in order to write of each asset over its estimated useful |
life. |
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Patents and licences - 10% on cost |
Development costs - 10% on cost |
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Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and |
accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of |
operating as intended by management. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
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Plant and machinery - 25% reducing balance |
Computer equipment - 33% straight line |
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Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets |
of the entity after deducting all of its financial liabilities. |
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IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Notes to the Financial Statements - continued |
for the year ended 31 October 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
element of the future payments is treated as a liability. |
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Impairment |
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there |
is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable |
amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not |
possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the |
cash-generating unit to which the asset belongs. |
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Going concern |
The director has agreed to support the company as necessary in the foreseeable future. The company therefore |
continues to adopt the going concern basis in preparing its financial statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Patents |
and | Development |
licences | costs | Totals |
£ | £ | £ |
COST |
At 1 November 2017 |
and 31 October 2018 |
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AMORTISATION |
At 1 November 2017 |
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Amortisation for year |
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At 31 October 2018 |
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NET BOOK VALUE |
At 31 October 2018 |
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At 31 October 2017 |
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IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Notes to the Financial Statements - continued |
for the year ended 31 October 2018 |
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5. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 November 2017 |
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Additions |
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At 31 October 2018 |
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DEPRECIATION |
At 1 November 2017 |
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Charge for year |
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At 31 October 2018 |
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NET BOOK VALUE |
At 31 October 2018 |
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At 31 October 2017 |
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Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as |
follows: |
Computer |
equipment |
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COST |
At 1 November 2017 |
and 31 October 2018 |
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DEPRECIATION |
At 1 November 2017 |
and 31 October 2018 |
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NET BOOK VALUE |
At 31 October 2018 |
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At 31 October 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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IDENTYSOL LIMITED (REGISTERED NUMBER: 04917057) |
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Notes to the Financial Statements - continued |
for the year ended 31 October 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 12,160 | 12,160 |
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9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 October 2018 and |
31 October 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Director's loan is interest free and repayable on demand. |