ILT Solutions Limited - Period Ending 2015-12-31

 
 
 
 
 
 
 
  ILT Solutions Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 December 2015
 
  Company Registration Number: 03786948

ILT Solutions Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

ILT Solutions Limited
Abbreviated Balance Sheet
31 December 2015

		Note			2015 £			2014 £
Fixed assets
Investments		2			16,495			16,544
Current assets
Debtors					64,352			582,699
Cash at bank and in hand					787			288,311
					65,139			871,010
Creditors: Amounts falling due within one year					-			(179,896)
Net current assets					65,139			691,114
Net assets					81,634			707,658
Capital and reserves
Called up share capital		3			201,800			306,800
Capital redemption reserve					244,619			139,619
Profit and loss account					(364,785)			261,239
Shareholders' funds					81,634			707,658

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

ILT Solutions Limited
Abbreviated Balance Sheet
31 December 2015 ......... continued

For the year ending 31 December 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 12 September 2016 and signed on its behalf by:

Mr IRA McNally
Chairman

Company Registration Number: 03786948

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

ILT Solutions Limited
Notes to the Abbreviated Accounts
Year Ended 31 December 2015 ......... continued

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 January 2015).

Going concern

The financial statements have been prepared on a going concern basis as the directors believe that the company has access to sufficient resources to continue in business for the foreseeable future.

Turnover

Turnover represents the fair value of consideration receivable, excluding Value Added Tax, in the ordinary course of business for goods and services provided. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value. Dividends received from subsidiary undertakings are recognised as income when the subsidiary's directors have formally approved the dividend.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes which have arisen but not reversed by the balance sheet date, except as required by Financial Reporting Standard 19 "Deferred Tax" (FRS 19). Deferred tax assets are only recognised to the extent that it is considered more likely than not that there will be sufficient future taxable profits against which the reversal of the underlying timing differences can be deducted.

Foreign currency

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Page 3

ILT Solutions Limited
Notes to the Abbreviated Accounts
Year Ended 31 December 2015 ......... continued

2	Fixed assets

		Investments £			Total £
Cost
At 1 January 2015		16,544			16,544
Disposals		(49)			(49)
At 31 December 2015		16,495			16,495
Depreciation
At 31 December 2015		-			-
Net book value
At 31 December 2015		16,495			16,495
At 31 December 2014		16,544			16,544

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
Subsidiary undertakings
ILT Solutions GmbH	Germany	Ordinary shares	100.00%	Training solutions
ILT Solutions (UK) Limited	England	Ordinary shares	100.00%	Training solutions

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £200.00 each		1,009			201,800			1,534			306,800

Page 4