THE INTERNATIONAL NETWORK FOR DELIVERY OF REGULATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
Company Registration Number: 13264649
THE INTERNATIONAL NETWORK FOR DELIVERY OF REGULATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
CONTENTS PAGES
Company information 1
Balance sheet 2
Notes to the financial statements 3 to 5
THE INTERNATIONAL NETWORK FOR DELIVERY OF REGULATION LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023
DIRECTORS
Hilary J Evans
Christopher J Hodges
Arundel McDougall
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
Cranbrook House
287/291 Banbury Road
Oxford
Oxfordshire
OX2 7JQ
COMPANY REGISTRATION NUMBER
13264649 England and Wales
THE INTERNATIONAL NETWORK FOR DELIVERY OF REGULATION LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
Notes 2023 2022
£ £
CURRENT ASSETS
Debtors 5 951 -
Cash at bank and in hand 9,999 13,462
10,950 13,462
CREDITORS: Amounts falling due within one year 6 10,942 9,399
NET CURRENT ASSETS 8 4,063
NET ASSETS 8 4,063
CAPITAL AND RESERVES
Distributable profit and loss account 8 4,063
SHAREHOLDER'S FUNDS 8 4,063
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
Hilary J Evans Christopher J Hodges
Director Director
Date approved by the board: 31 October 2023
THE INTERNATIONAL NETWORK FOR DELIVERY OF REGULATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
1 GENERAL INFORMATION
The International Network for Delivery of Regulation Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:
Registered office Principal place of business
Cranbrook House 94 Wookey Hole Road
287/291 Banbury Road Wells
Oxford Somerset
Oxfordshire BA25 2NQ
OX2 7JQ
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of consultancy services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2023 2022
Average number of employees 3 3
5 DEBTORS
2023 2022
£ £
Other debtors 951 -
6 CREDITORS: Amounts falling due within one year
2023 2022
£ £
Trade creditors - 360
Taxation and social security - 1,038
Accruals and deferred income 5,442 2,501
Other creditors 5,500 5,500
10,942 9,399
7 RELATED PARTY TRANSACTIONS
During the year, the following transactions with related parties took place:
C J Hodges
Director 2023 2022
£ £
Directors loan account Amount owed to director 5,000 5,000
H J Evans
Director 2023 2022
£ £
Directors loan account Amount owed to director 500 500
The International Network for Delivery of Regulation Limited 13264649 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts (tagged by user) April 2022 true No description of principal activity 13264649 2021-06-01 2022-03-31 13264649 core:WithinOneYear 2022-03-31 13264649 core:RetainedEarningsAccumulatedLosses 2022-03-31 13264649 core:CurrentFinancialInstruments 2022-03-31 13264649 core:KeyManagementIndividualGroup1 2022-03-31 13264649 core:KeyManagementIndividualGroup2 2022-03-31 13264649 2022-04-01 2023-03-31 13264649 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13264649 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13264649 bus:Director1 2022-04-01 2023-03-31 13264649 bus:Director2 2022-04-01 2023-03-31 13264649 bus:Director3 2022-04-01 2023-03-31 13264649 bus:RegisteredOffice 2022-04-01 2023-03-31 13264649 core:KeyManagementIndividualGroup1 2022-04-01 2023-03-31 13264649 core:KeyManagementIndividualGroup2 2022-04-01 2023-03-31 13264649 bus:FRS102 2022-04-01 2023-03-31 13264649 bus:FullAccounts 2022-04-01 2023-03-31 13264649 2023-03-31 13264649 core:WithinOneYear 2023-03-31 13264649 core:RetainedEarningsAccumulatedLosses 2023-03-31 13264649 core:CurrentFinancialInstruments 2023-03-31 13264649 core:KeyManagementIndividualGroup1 2023-03-31 13264649 core:KeyManagementIndividualGroup2 2023-03-31 13264649 2022-03-31 iso4217:GBP xbrli:pure