Company Registration No. 10383973 (England and Wales)
International Community Schools Limited
Unaudited accounts
for the year ended 31 August 2018
International Community Schools Limited
Unaudited accounts
Contents
International Community Schools Limited
Company Information
for the year ended 31 August 2018
Director
Sergio Ricardo Gonzalez Andion
Company Number
10383973 (England and Wales)
Registered Office
7B Wyndham Place
London
W1H 1PN
England
International Community Schools Limited
Statement of financial position
as at 31 August 2018
Tangible assets
103,724
49,421
Cash at bank and in hand
591,596
635,831
Creditors: amounts falling due within one year
(3,212,753)
(3,167,245)
Net current liabilities
(1,196,225)
(1,700,359)
Net liabilities
(1,092,501)
(1,650,938)
Called up share capital
1
1
Profit and loss account
(1,092,502)
(1,650,939)
Shareholders' funds
(1,092,501)
(1,650,938)
For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 17 May 2019.
Sergio Ricardo Gonzalez Andion
Director
Company Registration No. 10383973
International Community Schools Limited
Notes to the Accounts
for the year ended 31 August 2018
International Community Schools Limited is a private company, limited by shares, registered in England and Wales, registration number 10383973. The registered office is 7B Wyndham Place, London, W1H 1PN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% straight line basis
Fixtures & fittings
15% straight line basis
Computer equipment
20% straight line basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
International Community Schools Limited
Notes to the Accounts
for the year ended 31 August 2018
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2017
33,930
7,469
9,156
50,555
Additions
19,570
33,256
20,372
73,198
At 31 August 2018
53,500
40,725
29,528
123,753
At 1 September 2017
786
94
254
1,134
Charge for the year
7,240
6,004
5,651
18,895
At 31 August 2018
8,026
6,098
5,905
20,029
At 31 August 2018
45,474
34,627
23,623
103,724
At 31 August 2017
33,144
7,375
8,902
49,421
Trade debtors
456,320
583,193
Amounts due from group undertakings etc.
450,000
-
Accrued income and prepayments
193,843
161,965
Other debtors
324,769
85,897
6
Creditors: amounts falling due within one year
2018
2017
Trade creditors
194,090
238,011
Taxes and social security
151,608
186,661
Other creditors
382,075
210,000
Deferred income
2,440,708
2,525,220
The company is controlled by its parent company Nace International Ltd.
8
Average number of employees
During the year the average number of employees was 88 (2017: 102).
