REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 January 2022 to 29 December 2022 |
for |
IDCM Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 January 2022 to 29 December 2022 |
for |
IDCM Limited |
IDCM Limited (Registered number: 09101952) |
Contents of the Financial Statements |
for the Period 1 January 2022 to 29 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
IDCM Limited |
Company Information |
for the Period 1 January 2022 to 29 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Second Floor |
34 Lime Street |
London |
EC3M 7AT |
IDCM Limited (Registered number: 09101952) |
Balance Sheet |
29 December 2022 |
29.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
IDCM Limited (Registered number: 09101952) |
Notes to the Financial Statements |
for the Period 1 January 2022 to 29 December 2022 |
1. | STATUTORY INFORMATION |
IDCM Limited is a |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover represents commissions due to the company for its intermediary activities in relation to financing. 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. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been amortised evenly over its estimated useful life of five years. |
In the opinion of the directors, the period of amortisation of goodwill is a fair estimate of the period over which it continued to generate valuable consideration from the rights and connections acquired by the company from IDCM LLP. |
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. |
Taxation |
Taxation for the period 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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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 period end and that are expected to apply to the reversal of the timing difference. |
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. |
IDCM Limited (Registered number: 09101952) |
Notes to the Financial Statements - continued |
for the Period 1 January 2022 to 29 December 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2022 |
and 29 December 2022 |
AMORTISATION |
At 1 January 2022 |
and 29 December 2022 |
NET BOOK VALUE |
At 29 December 2022 |
At 31 December 2021 |
5. | TANGIBLE FIXED ASSETS |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery etc - 33% on cost |
6. | DEBTORS |
29.12.22 | 31.12.21 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
IDCM Limited (Registered number: 09101952) |
Notes to the Financial Statements - continued |
for the Period 1 January 2022 to 29 December 2022 |
8. | SECURED DEBTS |
The parent company, InterAlia Capital Limited, took out a loan from the bank during the previous year. This bank loan is secured by a fixed and floating charge over all assets of the parent and subsidiary companies including IDCM Limited. The value of the loan at the balance sheet date is £700,000 (2021 - £750,000). |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.12.22 | 31.12.21 |
value: | £ | £ |
Ordinary | 1 | 400,001 | 1 |
10. | RELATED PARTY DISCLOSURES |
IDCM Ltd is a wholly owned subsidiary of InterAlia Capital Ltd. InterAlia Capital Ltd prepares consolidated group accounts and its registered office address is 12a Upper Berkeley Street, London, W1H 7QE. |
During the year, the company invoiced IDCM Development Ltd £nil (2021 - £125,326) for services provided. One of the directors of the company is also a director of IDCM Development Ltd. |
11. | ULTIMATE CONTROLLING PARTY |