Abbreviated Company Accounts - ICT COTTON LIMITED

ICT COTTON LIMITED - Company Information

03830310 ICT COTTON LIMITED 2015-06-30 false 2014-07-01 2015-06-30 true 03830310 2014-07-01 2015-06-30 03830310 2015-06-30 03830310 2014-06-30 03830310 uk-gaap-cd-bus:Director1 2014-07-01 2015-06-30 03830310 uk-gaap-cd-bus:Director2 2014-07-01 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-01 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-06-30 iso4217:USD shares

Registered Number 03830310

ICT COTTON LIMITED

Abbreviated Accounts

30 June 2015

ICT COTTON LIMITED Registered Number 03830310

Abbreviated Balance Sheet as at 30 June 2015

	Notes	2015	2014
		$	$
Fixed assets
Investments	2	194,935	194,935
		194,935	194,935
Current assets
Debtors		345,222	283,538
		345,222	283,538
Creditors: amounts falling due within one year		(237,408)	(198,961)
Net current assets (liabilities)		107,814	84,577
Total assets less current liabilities		302,749	279,512
Total net assets (liabilities)		302,749	279,512
Capital and reserves
Called up share capital	3	16,187	16,187
Profit and loss account		286,562	263,325
Shareholders' funds		302,749	279,512

For the year ending 30 June 2015 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 6 November 2015

And signed on their behalf by:
Mr Marco Berry, Director

ICT COTTON LIMITED Registered Number 03830310

Notes to the Abbreviated Accounts for the period ended 30 June 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The Financial Statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities. A summary of the more important accounting policies, is set out below.

a) Accounting Convention
The financial statements have been prepared using the historical cost convention.

b) Foreign Currency Translation
Issued share capital is translated into US dollars at the rate of exchange ruling on the date of issue.

All other assets and liabilities denominated in foreign currencies are translated into US dollars at the rate of exchange ruling on the balance sheet date.

Income received and expenditure incurred in foreign currencies is translated into US dollars at the rate of exchange ruling on the date the transaction took place.

c) Turnover
Turnover, which excludes Value Added Tax and trade discounts, represents the company’s share of income from overseas trading.

d) Investments
The investments are stated at cost. No consolidated accounts have been prepared as to do so would cause undue cost and delay and would be of no material value to the members of the company.

e) Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. In the directors’ opinion the company can take advantage of the exemptions relating to small groups, provided by section 398 of the Companies Act 2006, not to prepare group accounts

2Fixed assets Investments
At Cost

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 $	2014 $
16,187 Ordinary shares of $1 each	16,187	16,187