Inter-Continent Couriers Limited - Limited company - abbreviated

REGISTERED NUMBER: 01975996

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2015

FOR

INTER-CONTINENT COURIERS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J.G Patel

N Gogna

M A Maved

S Gogna

SECRETARY:

M A Maved

REGISTERED OFFICE:

Unit 25 Phoenix Distribution Park

Phoenix Way

Heston

Middlesex

TW5 9NB

REGISTERED NUMBER:

01975996

ACCOUNTANTS:

Levy + Partners Limited

Chartered Accountants

7-8 Ritz Parade

Western Avenue

London

W5 3RA

FIXED ASSETS

Tangible assets

2

9,322

14,773

Investments

3

9,000

18,322

23,773

CURRENT ASSETS

Debtors

479,253

392,755

Cash at bank and in hand

27,093

175,504

506,346

568,259

CREDITORS

Amounts falling due within one year

4

200,890

278,899

NET CURRENT ASSETS

305,456

289,360

TOTAL ASSETS LESS CURRENT
LIABILITIES

323,778

313,133

CREDITORS

Amounts falling due after more than one
year

821

5,042

NET ASSETS

322,957

308,091

CAPITAL AND RESERVES

Called up share capital

5

218,852

Profit and loss account

104,105

89,239

SHAREHOLDERS' FUNDS

322,957

308,091

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 14th March 2016 and were signed on its behalf by:

J.G Patel - 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).

Preparation of consolidated financial statements

The financial statements contain information about Inter-Continent Couriers Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover and revenue recognition

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

The revenue is recognised for the services as the services are performed.

Tangible fixed assets

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

Fixtures, fittings and equipment at varying rates on cost

Improvement to Property 50% on cost

Deferred tax

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

sheet date.

A deferred tax asset is regarded as recoverable and therefor recognised only when, on the basis of all available

evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the

future reversal of the underlying timing difference can be deducted.

Deferred tax is measured on a nondiscounted basic, at the average tax rates that are expected to apply in the

periods in which the timing difference are expected to reserve, based on tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Pensions

The company operates a defined contribution pension scheme. Contribution s payable for the year are charged in

the profit and loss account.

Hire purchase and leasing commitments

Assets acquired under hire purchase agreements and finance lease are capitalised in the balance sheet and are

depreciated in accordance with the company's normal policy. The outstanding liabilities under such agreements

less interest not yet due are included in creditors. interest on such agreements in charged to the profit and loss

account over the term of each agreement and represents a constant proportion of the balance of capital

repayments outstanding.

Rentals under operating lease are charged under profit and loss account as they fall due.

Turnover

The turnover and profit before taxation is attributable to the one principal activity of the company.

Going concern

The accounts have been prepared on the assumption that the company is able to carry on business as a going

concern, which the directors consider appropriate having regard to the circumstances.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2014

96,351

Additions

2,536

At 30th June 2015

98,887

DEPRECIATION

At 1st July 2014

81,578

Charge for year

7,987

At 30th June 2015

89,565

NET BOOK VALUE

At 30th June 2015

9,322

At 30th June 2014

14,773

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st July 2014

and 30th June 2015

9,090

PROVISIONS

At 1st July 2014

and 30th June 2015

90

NET BOOK VALUE

At 30th June 2015

9,000

At 30th June 2014

9,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Global Express Limited

Country of incorporation: U.K.

Nature of business: Courier services

%

Class of shares:

holding

Ordinary

100.00

30.6.15

30.6.14

£

Aggregate capital and reserves

62,751

60,791

Profit for the year

1,960

19,500

4.

CREDITORS

Creditors include an amount of £ 0 (30.6.14 - £ 45,128 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

218,852

Ordinary

1

218,852

6.	RELATED PARTY DISCLOSURES

1. During the year the company made sales and expenses recharge totalling £52,728 (2014: £86,763) to, and purchases of £547 (2014: £909) from its subsidiary, Global Express Limited. The balance owed to the company
by Global Express Limited at 30 June 2015 was £6,009 (2014: £1,833).

2. The amount owed by the company to ICC Investments Limited, it's parent company, at 30 June 2015 was Nil (2014-£12,253) .

3. The amount owed to the company by ICC Investments Limited, it's parent company, at 30 June 2015 was £208,909 (2014-Nil).

7.	ULTIMATE CONTROLLING PARTY

Inter-Continent Couriers Limited is wholly-owned subsidiary of ICC Investments Limited, which is incorporated

in England and Wales and is controlled by the directors. ICC Investments Limited is the ultimate parent company

and there is no ultimate controlling party of ICC Investments Ltd.

Inter-Continent Couriers Limited - Limited company - abbreviated - 11.9

Inter-Continent Couriers Limited - Limited company - abbreviated - 11.9