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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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IDCM Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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IDCM Limited |
IDCM Limited (Registered number: 09101952) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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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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IDCM Limited |
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Company Information |
for the Year Ended 31 December 2016 |
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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 |
Mitre House |
12-14 Mitre Street |
London |
EC3A 5BU |
IDCM Limited (Registered number: 09101952) |
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Balance Sheet |
31 December 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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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: |
(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. |
IDCM Limited (Registered number: 09101952) |
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Balance Sheet - continued |
31 December 2016 |
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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
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IDCM Limited (Registered number: 09101952) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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IDCM Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The financial statements are presented in sterling which is the functional currency of the company and rounded to |
the nearest £. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents commissions due to the company for its intermediary activities resulting in the issue of |
corporate bonds. Commissions due to the company are recognised in the financial statements upon execution of |
agreements by third parties resulting in the company obtaining the right to consideration for its intermediary |
activities. |
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Goodwill |
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In the opinion of the directors the period of amortisation of goodwill is a fair estimate of the period over which it |
will continue to generate valuable consideration from the rights and connections acquired by the company from |
IDCM LLP. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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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 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. |
IDCM Limited (Registered number: 09101952) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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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 |
Goodwill |
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COST |
At 1 January 2016 |
and 31 December 2016 |
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AMORTISATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Amounts owed to group undertakings |
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8. | SECURED DEBTS |
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The company's assets are subject to a fixed and floating charge under the terms of a debenture in favour of the |
provider of finance to its parent company, InterAlia Capital Limited. The liability of InterAlia Capital Limited |
under the terms of the debenture at the balance sheet date was £308,465 (2015 - £1,001,081). |
IDCM Limited (Registered number: 09101952) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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9. | RELATED PARTY DISCLOSURES |
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IDCM Ltd is a wholly owned subsidiary of InterAlia Capital Ltd. InterAlia Capital Ltd prepares consolidated |
group accounts and its registered office address is Mitre House, 12 - 14 Mitre Street, London, EC3A 5BU. |
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The company received loan finance of £2,528,000 from InterAlia Capital Ltd which is repayable within five |
years. The loan bears interest at a rate of 12.5% per annum. The interest charge for the financial period was |
£264,812 (2015 - £275,135). |
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The company's assets are subject to a fixed and floating charge under the terms of a debenture in favour of the |
provider of finance to its parent company, InterAlia Capital Limited. The liability of InterAlia Capital Limited |
under the terms of the debenture at the balance sheet date was £308,465 (2015 - £1,001,081). |
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10. | ULTIMATE CONTROLLING PARTY |
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The company is a wholly owned subsidiary of InterAlia Capital Limited, a company incorporated in England and |
Wales, registered number 09090298. No individual nor any other entity has a controlling interest in InterAlia |
Capital Limited. |