Intraco Chemicals Limited - Period Ending 2014-12-31

Registration number: 06604715

Intraco Chemicals Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 31 December 2014

Intraco Chemicals Limited

Contents

Abbreviated Balance Sheet	1 to 2
Notes to the Abbreviated Accounts	3 to 4

Intraco Chemicals Limited

(Registration number: 06604715)
Abbreviated Balance Sheet as at 31 December 2014

	Note	2014  CHF	2013  CHF
Fixed assets
Tangible assets	2	3,598	2,749
Investments	2	2,212,977	9,036,602
		2,216,575	9,039,351
Current assets
Stocks		20,562	31,863
Debtors		3,617,978	1,500,523
Cash at bank and in hand		3,900,978	3,334,736
		7,539,518	4,867,122
Prepayments and accrued income		113,104	125,765
Creditors: Amounts falling due within one year		(24,104,275)	(28,824,261)
Net current liabilities		(16,451,653)	(23,831,374)
Total assets less current liabilities		(14,235,078)	(14,792,023)
Accruals and deferred income		(29,321)	(165,382)
Net liabilities		(14,264,399)	(14,957,405)
Capital and reserves
Called up share capital	3	1,527	1,527
Profit and loss account		(14,265,926)	(14,958,932)
Shareholders deficit		(14,264,399)	(14,957,405)

For the year ending 31 December 2014 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 notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Intraco Chemicals Limited

(Registration number: 06604715)
Abbreviated Balance Sheet as at 31 December 2014

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 22 April 2016 and signed on its behalf by:

.........................................
J.N D'Arcy
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Intraco Chemicals Limited

Notes to the Abbreviated Accounts

1

Accounting policies

Basis of preparation

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).

Exemption from preparing a cash flow statement

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Computer equipment	37% Straight line basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Foreign currency

The company's accounting records are maintained in Swiss Francs. Transactions in other currencies are converted at the rate ruling at the date of the transaction. Monetary assets and liabilities are converted at the rate of exchange ruling at the balance sheet date. Any material gains or losses resulting from the conversion are taken to the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Intraco Chemicals Limited

Notes to the Abbreviated Accounts

2

Fixed assets

	Tangible assets CHF	Investments CHF	Total CHF
Cost
At 1 January 2014	161,382	11,328,999	11,490,381
Revaluations	-	(3,052,054)	(3,052,054)
Additions	2,143	-	2,143
Disposals	-	(4,634,314)	(4,634,314)
At 31 December 2014	163,525	3,642,631	3,806,156
Depreciation
At 1 January 2014	158,633	2,292,397	2,451,030
Charge for the year	1,294	-	1,294
Eliminated on disposals	-	(862,743)	(862,743)
At 31 December 2014	159,927	1,429,654	1,589,581
Net book value
At 31 December 2014	3,598	2,212,977	2,216,575
At 31 December 2013	2,749	9,036,602	9,039,351

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Holding

Proportion of voting rights and shares held

Principal activity

Associates
Wizman Impex Private Limited	India	Ordinary shares	40%	Trading in pharmaceutical products

3

Share capital

Allotted, called up and fully paid shares

	2014		2013
	No.	CHF	No.	CHF
Ordinary shares of £1 each	1,000	1,527	1,000	1,527

Page 4