COMPANY REGISTRATION NUMBER
07769620
IMMIGRATION ADVICE CENTRE LTD
ABBREVIATED ACCOUNTS
30 November 2016
CHUHAN & SINGH
Chartered Accountants
81 Borough Road
Middlesbrough
TS1 3AA
IMMIGRATION ADVICE CENTRE LTD
ABBREVIATED BALANCE SHEET
30 November 2016
|
2016
|
2015
|
Note
|
£
|
£
|
£
|
FIXED ASSETS
|
2
|
|
|
|
Tangible assets
|
|
2,898
|
1,960
|
|
|
-------
|
-------
|
|
|
|
|
|
CURRENT ASSETS
Stocks
|
26,173
|
|
45,166
|
Debtors
|
15,991
|
|
18,763
|
Cash at bank and in hand
|
10,991
|
|
303
|
|
---------
|
|
---------
|
|
53,155
|
|
64,232
|
CREDITORS: Amounts falling due within one year
|
16,894
|
|
24,457
|
|
---------
|
|
---------
|
NET CURRENT ASSETS
|
|
36,261
|
39,775
|
|
|
---------
|
---------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
39,159
|
41,735
|
|
|
|
|
PROVISIONS FOR LIABILITIES
|
|
580
|
392
|
|
|
---------
|
---------
|
|
|
38,579
|
41,343
|
|
|
---------
|
---------
|
|
|
|
|
CAPITAL AND RESERVES
Called up equity share capital
|
3
|
|
100
|
100
|
Profit and loss account
|
|
38,479
|
41,243
|
|
|
---------
|
---------
|
SHAREHOLDERS' FUNDS
|
|
38,579
|
41,343
|
|
|
---------
|
---------
|
|
|
|
|
|
For the year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved and signed by the director and authorised for issue on
6 July 2017
.
Mrs S L Rogers
Company Registration Number:
07769620
IMMIGRATION ADVICE CENTRE LTD
NOTES TO THE
ABBREVIATED ACCOUNTS
YEAR ENDED 30 NOVEMBER 2016
1.
ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the fair value of the consideration receivable for professional services provided to clients during the year, net of VAT. Where the outcome of a transaction can be estimated reliably, revenue associated with the transaction is recognised in the profit and loss account by reference to the stage of completion at the end of the accounting period, provided that a right to consideration has been obtained through performance. Consideration accrues as contract activity progresses by by reference to the value of work performed. Where the outcome of a transaction cannot be estimated reliably, revenue is recognised only to the extent that the costs of providing the service are recoverable. No revenue is recognised where there are significant uncertainties regarding recovery of the consideration due or where the right to receive payment is contingent on events outside the control of the company.
Fixed assets
All fixed assets are initially recorded at cost
.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Equipment-20% Straight Line
Work in progress
Work in progress is valued at charge rates/legal aid rates.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
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.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.
FIXED ASSETS
COST
At 1 December 2015
|
5,131
|
Additions
|
2,455
|
|
-------
|
At 30 November 2016
|
7,586
|
|
-------
|
|
|
DEPRECIATION
At 1 December 2015
|
3,171
|
Charge for year
|
1,517
|
|
-------
|
At 30 November 2016
|
4,688
|
|
-------
|
|
|
NET BOOK VALUE
At 30 November 2016
|
2,898
|
|
-------
|
|
|
At 30 November 2015
|
1,960
|
|
-------
|
|
|
3.
SHARE CAPITAL
Allotted, called up and fully paid:
|
2016
|
2015
|
|
No.
|
£
|
No.
|
£
|
|
Ordinary shares of £ 1 each
|
100
|
100
|
100
|
100
|
|
|
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|
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|
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|
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|
|
|
|
|
|
|
IMMIGRATION ADVICE CENTRE LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR OF IMMIGRATION
ADVICE CENTRE LTD
YEAR ENDED 30 NOVEMBER 2016
As described on the balance sheet, the director of the company is responsible for the preparation of the abbreviated accounts for the year ended 30 November 2016, which comprise the Balance Sheet and the related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited abbreviated accounts in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
CHUHAN & SINGH
Chartered Accountants
81 Borough Road
Middlesbrough
TS1 3AA
6 July 2017