I C Express Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04708834 (England and Wales)

Abbreviated Accounts for the Year Ended 31 March 2015

for

I C Express Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

I R Crook

SECRETARY:

R J Crook

REGISTERED OFFICE:

Unit 1

Hotwater lane

Kingswood

Bristol

BS15 4PT

REGISTERED NUMBER:

04708834 (England and Wales)

ACCOUNTANTS:

Coben Associates

2nd Floor

3 The Plain

Thornbury

Bristol

BS35 2AG

FIXED ASSETS

Intangible assets

2

60,000

60,000

Tangible assets

3

402,206

320,469

462,206

380,469

CURRENT ASSETS

Stocks

30,148

16,602

Debtors

281,746

321,830

Cash at bank and in hand

61,424

412

373,318

338,844

CREDITORS

Amounts falling due within one year

431,222

416,276

NET CURRENT LIABILITIES

(57,904

)

(77,432

)

TOTAL ASSETS LESS CURRENT LIABILITIES

404,302

303,037

CREDITORS

Amounts falling due after more than one year

(237,201

)

(147,888

)

PROVISIONS FOR LIABILITIES

(80,115

)

(57,767

)

NET ASSETS

86,986

97,382

CAPITAL AND RESERVES

Called up share capital

4

60,000

60,000

Profit and loss account

26,986

37,382

SHAREHOLDERS' FUNDS

86,986

97,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 8 September 2015 and were signed by:

I R Crook - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks

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 expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

60,000

NET BOOK VALUE

At 31 March 2015

60,000

At 31 March 2014

60,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

634,455

Additions

252,612

Disposals

(129,864

)

At 31 March 2015

757,203

DEPRECIATION

At 1 April 2014

313,986

Charge for year

131,662

Eliminated on disposal

(90,651

)

At 31 March 2015

354,997

NET BOOK VALUE

At 31 March 2015

402,206

At 31 March 2014

320,469

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

60,000

Ordinary

£1

60,000

60,000