ICE Insurance Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03155942 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

INTERNATIONAL COMMERCIAL & ENGINEERING

(ICE) INSURANCE SERVICES LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R W A Lewis

K F Wilkinson

SECRETARY:

L Stander

REGISTERED OFFICE:

1-2 Craven Road

London

W5 2UA

REGISTERED NUMBER:

03155942 (England and Wales)

AUDITORS:

Johnsons, Chartered Accountants

Statutory Auditor

Ground Floor

1 - 2 Craven Road

Ealing

London

W5 2UA

BANKERS:

Barclays Bank Plc

1 Churchill Place

Canary Wharf

London

E14 5HP

FIXED ASSETS

Tangible assets

4

12

472

CURRENT ASSETS

Debtors

407,596

1,066,384

Cash at bank and in hand

100,546

505,922

508,142

1,572,306

CREDITORS

Amounts falling due within one year

284,935

1,117,808

NET CURRENT ASSETS

223,207

454,498

TOTAL ASSETS LESS CURRENT LIABILITIES

223,219

454,970

CAPITAL AND RESERVES

Called up share capital

5

1,900,000

1,900,000

Retained earnings

(1,676,781

)

(1,445,030

)

SHAREHOLDERS' FUNDS

223,219

454,970

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 June 2019 and were signed on its behalf by:

R W A Lewis - Director

1.	STATUTORY INFORMATION

International Commercial & Engineering (ICE) Insurance Services 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly

owned subsidiaries within the group.

Turnover

Turnover represents brokerage fees charged on contracts of insurance and fees received for management services. Turnover

is attributable to geographical markets both inside and outside the UK.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

33.33% on cost

Foreign currencies

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 rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

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 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

and 31 December 2018

13,505

DEPRECIATION

At 1 January 2018

13,033

Charge for year

460

At 31 December 2018

13,493

NET BOOK VALUE

At 31 December 2018

12

At 31 December 2017

472

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1,900,000

Ordinary

£1

1,900,000

1,900,000

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Turner (Senior Statutory Auditor)

for and on behalf of Johnsons, Chartered Accountants

7.	RELATED PARTY DISCLOSURES

The company received an unsecured loan of US$ 1 million on 12 December 2017 from The RJL Trust in which the director

RWA Lewis has a beneficial interest. Interest of £15,002 has been charged on this loan at 2% per annum. At 31 December

2018 the balance outstanding on the account was £15,203 (2017: £740,000).

8.	ULTIMATE PARENT COMPANY

The immediate parent ICE Insurance Holdings Limited, a company incorporated in Isle of Man, is the ultimate parent

company and ultimate controlling party.

Copies of the group financial statements are available from the registered office of ICE Insurance Holdings Limited at 69

Athol Street, Douglas, Isle of Man IM1 1JE.