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I CUBED TECHNOLOGIES LIMITED
REGISTERED NUMBER: 04171099
ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2015
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CREDITORS: amounts falling due within one year
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Capital redemption reserve
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2015 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 22 September 2015.
The notes on pages 2 to 3 form part of these financial statements.
Page 1
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I CUBED TECHNOLOGIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Development costs are capitalised within intangible assets where they can be identified with a specific product or project anticipated to produce future benefits, and are amortised on the straight line basis over the anticipated life of the benefits arising from the completed product or project.
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Deferred research and development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance of any related research and development is written off to the Profit and loss account.
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Page 2
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I CUBED TECHNOLOGIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
2.TANGIBLE FIXED ASSETS
3.SHARE CAPITAL
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Allotted, called up and fully paid
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2 Ordinary shares of £1 each
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4.RELATED PARTY TRANSACTIONS
During the year the following transactions took place with I Cubed Systems Ltd, a company owned by the directors S Brookes & G Hewitt
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Amounts due (to)/from I Cubed Systems Ltd
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Management charges received from I Cubed Systems Ltd
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5.CONTROLLING PARTY
The company is under the control of its directors.
Page 3
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