REGISTERED NUMBER: 09452357 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Interco IFA Services Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G Cotton

SECRETARY:

Mrs N R Cotton

REGISTERED OFFICE:

Bennett House

The Dean

Alresford

Hampshire

SO24 9BH

REGISTERED NUMBER:

09452357 (England and Wales)

ACCOUNTANTS:

Butler & Co

Chartered Accountants

Bennett House

The Dean

Alresford

Hampshire

SO24 9BH

FIXED ASSETS

Intangible assets

4

4,000

6,000

Tangible assets

5

1,380

818

5,380

6,818

CURRENT ASSETS

Debtors

6

10,305

12,887

Cash at bank

9,042

3,611

19,347

16,498

CREDITORS

Amounts falling due within one year

7

16,770

13,842

NET CURRENT ASSETS

2,577

2,656

TOTAL ASSETS LESS CURRENT LIABILITIES

7,957

9,474

CREDITORS

Amounts falling due after more than one year

8

(7,522

)

(9,167

)

PROVISIONS FOR LIABILITIES

10

(262

)

(164

)

NET ASSETS

173

143

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

73

43

SHAREHOLDERS' FUNDS

173

143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 5 October 2018 and were signed by:

Mr G Cotton - Director

1.	STATUTORY INFORMATION

Interco IFA Services Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the value of services supplied net of discounts and excluding value added tax. Turnover is

recognised upon the raising of an invoice.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

33% on cost

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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 year 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

10,000

AMORTISATION

At 1 April 2017

4,000

Charge for year

2,000

At 31 March 2018

6,000

NET BOOK VALUE

At 31 March 2018

4,000

At 31 March 2017

6,000

The goodwill arose as a result of the purchase by the company of Interco IFA Services, a partnership business of

the director on 2 March 2015. The asset is being amortised equally over its estimated useful life of 5 years.

5.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 April 2017

2,454

Additions

2,070

At 31 March 2018

4,524

DEPRECIATION

At 1 April 2017

1,636

Charge for year

1,508

At 31 March 2018

3,144

NET BOOK VALUE

At 31 March 2018

1,380

At 31 March 2017

818

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

70

-

Directors' current accounts

9,864

12,527

Prepayments

371

360

10,305

12,887

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

2,500

2,803

Trade creditors

-

173

Corporation tax

12,770

9,366

Accrued expenses

1,500

1,500

16,770

13,842

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans - 2-5 years

7,522

9,167

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

10,022

11,667

In 2016 the company obtained a secured bank loan. Mr G Cotton, the director, provided the security for this loan

by way of a personal guarantee to the value of £16,500.

10.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

262

164

Deferred

tax

£

Balance at 1 April 2017

164

Accelerated capital allowances

98

Balance at 31 March 2018

262

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

51

Ordinary

£1

51

51

49

Ordinary A

£1

49

49

100

100

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018 and

31 March 2017:

2018

2017

£

£

Mr G Cotton

Balance outstanding at start of year

12,527

9,991

Amounts advanced

9,864

26,460

Amounts repaid

(12,527

)

(23,924

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,864

12,527

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £38,500 (2017 - £19,900) were paid to the director .

Mr G Cotton

Director

During the period under review Mr G Cotton incurred expenses on behalf of the company amounting to £5,000

(2017 - £2,257).

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr G Cotton, by virtue of his directorship and majority shareholding.