| ICE Motor Company Limited |
| Registered number: |
07173865 |
| Abbreviated Balance Sheet |
| as at 31 March 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
1,959 |
|
|
4,113 |
|
| Current assets |
| Stocks |
|
|
252,562 |
|
|
232,155 |
| Debtors |
|
|
40,521 |
|
|
29,521 |
| Cash at bank and in hand |
|
|
59,879 |
|
|
42,864 |
|
|
|
352,962 |
|
|
304,540 |
|
| Creditors: amounts falling due within one year |
|
|
(354,635) |
|
|
(252,193) |
|
| Net current (liabilities)/assets |
|
|
|
(1,673) |
|
|
52,347 |
|
| Net assets |
|
|
|
286 |
|
|
56,460 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
284 |
|
|
56,458 |
|
| Shareholders' funds |
|
|
|
286 |
|
|
56,460 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit 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 the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Cathy Evans |
| Director |
| Approved by the board on 5 September 2016 |
|
| ICE Motor Company Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
20/33% straight line |
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
14,826 |
|
At 31 March 2016 |
14,826 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2015 |
10,713 |
|
Charge for the year |
2,154 |
|
At 31 March 2016 |
12,867 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
1,959 |
|
At 31 March 2015 |
4,113 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Related party transactions |
|
|
The directors of ICE Motor Company Ltd, are also directors and majority shareholders of ICE Development Ltd, a company registered in England and Wales. During the year, the company operated an intercompany loan account, as shown in debtors, with ICE Development Ltd. At the balance sheet date, ICE Development were indebted to ICE Motor Company Ltd, in the amount of £21,521 (2015 £21,521). No transactions took place during the year. |
|
| 5 |
Transactions with the directors |
|
|
During the year, the company operated a loan account with the directors, as shown in on other creditors. At the balance sheet date, the company was indebted to the directors, in the amount of £189,849 (2015 £202,068). |
