Insurance Tailors Ltd
Registered number: 05928330
Balance Sheet
as at 31 March 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 3 1,190 999
Current assets
Debtors 4 101,926 112,076
Cash at bank and in hand 311,311 260,071
413,237 372,147
Creditors: amounts falling due within one year 5 (120,838) (119,217)
Net current assets 292,399 252,930
Total assets less current liabilities 293,589 253,929
Creditors: amounts falling due after more than one year 6 - (33,772)
Net assets 293,589 220,157
Capital and reserves
Called up share capital 40,001 40,001
Profit and loss account 253,588 180,156
Shareholder's funds 293,589 220,157
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Andrew Boldt
Director
Approved by the board on 15 October 2018
Insurance Tailors Ltd
Notes to the Accounts
for the year ended 31 March 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
2 Employees 2018 2017
Number Number
Average number of persons employed by the company 12 11
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2017 10,464
Additions 954
At 31 March 2018 11,418
Depreciation
At 1 April 2017 9,465
Charge for the year 763
At 31 March 2018 10,228
Net book value
At 31 March 2018 1,190
At 31 March 2017 999
4 Debtors 2018 2017
£ £
Trade debtors 49,801 49,412
Other debtors 52,125 62,664
101,926 112,076
5 Creditors: amounts falling due within one year 2018 2017
£ £
Bank loans and overdrafts 35,955 25,988
Trade creditors - 164
Corporation tax 55,037 59,584
Other creditors 29,846 33,481
120,838 119,217
6 Creditors: amounts falling due after one year 2018 2017
£ £
Bank loans - 33,772
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Andrew Boldt
Director's loan account 51,564 91,130 (112,972) 29,722
51,564 91,130 (112,972) 29,722
8 Related party transactions
The directors loan was repaid in full by 31st September 2018.
9 Controlling party
Mr Boldt owns 100% of the issued share capital and as such is the ultimate controlling party.
10 Other information
Insurance Tailors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1A May Rd
Twickenham
London
TW2 6QW
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