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REGISTERED NUMBER: 08387053 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2017

for

1plus1 Loans Ltd

1plus1 Loans Ltd (Registered number: 08387053)






Contents of the Financial Statements
for the Year Ended 31 March 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


1plus1 Loans Ltd

Company Information
for the Year Ended 31 March 2017







DIRECTORS: G P McKenna
Mrs J McCormack





REGISTERED OFFICE: The Old Tannery
Eastgate
Accrington
Lancashire
BB5 6PW





REGISTERED NUMBER: 08387053 (England and Wales)





ACCOUNTANTS: Haworths Limited
Chartered Accountants
The Old Tannery
Eastgate
Accrington
Lancashire
BB5 6PW

1plus1 Loans Ltd (Registered number: 08387053)

Balance Sheet
31 March 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 9,559 12,181
9,559 12,181

CURRENT ASSETS
Debtors 7 1,020,163 639,686
Cash at bank 89,672 144,083
1,109,835 783,769
CREDITORS
Amounts falling due within one year 8 306,302 433,879
NET CURRENT ASSETS 803,533 349,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

813,092

362,071

CREDITORS
Amounts falling due after more than one
year

9

613,260

-
NET ASSETS 199,832 362,071

CAPITAL AND RESERVES
Called up share capital 8 8
Retained earnings 199,824 362,063
SHAREHOLDERS' FUNDS 199,832 362,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

1plus1 Loans Ltd (Registered number: 08387053)

Balance Sheet - continued
31 March 2017


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 Board of Directors on 18 September 2017 and were signed on its behalf
by:





G P McKenna - Director


1plus1 Loans Ltd (Registered number: 08387053)

Notes to the Financial Statements
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

1plus1 Loans Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

During the period the company met its day to day working capital requirements by the financial support of its
directors. The directors have agreed to continue to support the company by way of loans to the company.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The
financial statements do not include any adjustments that would result from a withdrawal of this support.

Turnover
Turnover represents contractual interest and fees earned in line with the term and size of loan. Interest income
consists of interest calculated on a daily basis. Other fee income is recognised at the point when these fees
become applicable to a specific loan agreement, for example on arrangement or at the point of default.

Goodwill
Goodwill, being the amount paid in connection with the acquisition on a business, has been fully amortised.

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 - 20% 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 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 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.

1plus1 Loans Ltd (Registered number: 08387053)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2016 - 11 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2016
and 31 March 2017 1
AMORTISATION
At 1 April 2016
and 31 March 2017 1
NET BOOK VALUE
At 31 March 2017 -
At 31 March 2016 -

6. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2016 17,913
Additions 960
At 31 March 2017 18,873
DEPRECIATION
At 1 April 2016 5,732
Charge for year 3,582
At 31 March 2017 9,314
NET BOOK VALUE
At 31 March 2017 9,559
At 31 March 2016 12,181

7. DEBTORS
2017 2016
£    £   
Amounts falling due within one year:
Amounts receivable from
customers 683,239 423,465
Other debtors 8,629 7,725
691,868 431,190

1plus1 Loans Ltd (Registered number: 08387053)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

7. DEBTORS - continued
2017 2016
£    £   
Amounts falling due after more than one year:
Amounts receivable from
customers 328,295 208,496
328,295 208,496

Aggregate amounts 1,020,163 639,686

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 24,124 3,559
Amounts owed to group undertakings 74,017 73,892
Taxation and social security 1,793 1,979
Other creditors 206,368 354,449
306,302 433,879

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Other creditors 613,260 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Other creditors 494,565 -

The other creditors are secured on the amounts receivable from customers.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by P McKenna, L McKenna and G McKenna, due to their shareholding in the
holding company.

12. FIRST YEAR ADOPTION

This is the company's first set of financial statements prepared under FRS102. The date of transition to FRS102
was 1 April 2015. The accounting policies are unchanged and there are no changes to profits and equity as
previously reported.