Iceberg Building Services Limited,Ltd - Accounts

Iceberg Building Services Limited,Ltd - Accounts

ICEBERG BUILDING SERVICES LIMITED - Company Information

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2014-01-01 true false Private Limited Company 03612430 2014-12-31 03612430 2014-01-01 2014-12-31 03612430 2013-12-31 03612430 2013-01-01 2013-12-31 03612430 uk-bus:Director1 2014-01-01 2014-12-31 03612430 uk-gaap:ComputerEquipment 2014-01-01 2014-12-31 03612430 uk-gaap:CommercialMotorVehicles 2014-01-01 2014-12-31 03612430 uk-gaap:FixturesFittings 2014-01-01 2014-12-31 03612430 uk-bus:OrdinaryShareClass1 2014-12-31 iso4217:GBP
Iceberg Building Services Limited
For the year ended 31 December 2014
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03612430
2
Contents Page
Iceberg Building Services Limited
For the year ended 31 December 2014
1
Balance Sheet
2 to 4
Notes to the Abbreviated Financial Statements
3
Abbreviated Balance Sheet
Iceberg Building Services Limited
As at 31 December 2014
03612430
Registered Number :
£
£
2014
Notes
2013
Fixed assets
Tangible assets
2
25,435
7,641
Investments
-
426,661
3
452,096
7,641
Current assets
Stocks
492,150
131,690
Debtors
124,244
247,767
Cash at bank and in hand
171,479
25,680
550,936
642,074
Creditors: amounts falling due within one year
(236,108)
(516,629)
405,966
34,307
Net current assets
Total assets less current liabilities
486,403
413,607
Creditors: amounts falling due after more than one year
(742,620)
(600,287)
(113,884)
Net liabilities
(329,013)
Capital and reserves
Called up share capital
100
4
100
Profit and loss account
(113,984)
(329,113)
(113,884)
(329,013)
Shareholders funds
For the year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
The accounts have been prepared in accordance with the micro-entity provisions. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Date approved by the board: 26 February 2015
J W Goggin Director
Signed on behalf of the board of directors
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4
Notes to the Abbreviated Financial Statements
Iceberg Building Services Limited
For the year ended 31 December 2014
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
Deferred taxation
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment
25% Reducing balance
Motor Vehicles
25% per annum on cost
Fixtures and Fittings
25% Reducing balance
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5
Notes to the Abbreviated Financial Statements
Iceberg Building Services Limited
For the year ended 31 December 2014
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and
rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets
and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
47,121
At 01 January 2014
27,057
Additions
(8,100)
Disposals
At 31 December 2014
66,078
Depreciation
39,480
At 01 January 2014
(8,100)
Disposals
9,263
Charge for year
40,643
At 31 December 2014
Net book values
At 31 December 2014
25,435
7,641
At 31 December 2013
3 Fixed asset investments
Total
Cost
426,661
Additions
At 31 December 2014
426,661
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6
Notes to the Abbreviated Financial Statements
Iceberg Building Services Limited
For the year ended 31 December 2014
4 Share capital
Allotted called up and fully paid
2014
2013
£
£
100 Ordinary shares of £1.00 each
100
100
100
100
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