ICE_SCULPTING_FESTIVALS_L - Accounts

ICE SCULPTING FESTIVALS LIMITED - Company Information

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Company Registration No. 08537575 (England and Wales)

ICE SCULPTING FESTIVALS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

ICE SCULPTING FESTIVALS LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

ICE SCULPTING FESTIVALS LIMITED

CHARTERED ACCOUNTANT ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ICE SCULPTING FESTIVALS LIMITED FOR THE YEAR ENDED 31 MAY 2016

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ice Sculpting Festivals Limited for the year ended 31 May 2016 set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Ice Sculpting Festivals Limited, as a body, in accordance with the terms of our engagement letter dated 9 November 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Ice Sculpting Festivals Limited and state those matters that we have agreed to state to the Board of Directors of Ice Sculpting Festivals Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ice Sculpting Festivals Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Ice Sculpting Festivals Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ice Sculpting Festivals Limited. You consider that Ice Sculpting Festivals Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ice Sculpting Festivals Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Harris & Company (C.A.) Limited

14 October 2016

Chartered Accountant Accountants

Suite C

4-6 Canfield Place

London

NW6 3BT

ICE SCULPTING FESTIVALS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 2 -

2016

2015

Notes

Fixed assets

Intangible assets

3,432

1,344

Tangible assets

214

286

3,646

1,630

Current assets

Debtors

12,125

100

Cash at bank and in hand

2,661

181

14,786

281

Creditors: amounts falling due within one year

(24,774)

(5,614)

Net current liabilities

(9,988)

(5,333)

Total assets less current liabilities

(6,342)

(3,703)

Capital and reserves

Called up share capital

300

100

Profit and loss account

(6,642)

(3,803)

Shareholders' funds

(6,342)

(3,703)

For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 14 October 2016

Mr R Elmer

Director

Company Registration No. 08537575

ICE SCULPTING FESTIVALS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

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Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements have been drawn up on a going concern basis, the validity of which depends upon the continued support of the director and shareholders.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Patents

Website is valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% straightline

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 June 2015

1,708

388

2,096

Additions

2,465

At 31 May 2016

4,173

388

4,561

Depreciation

At 1 June 2015

364

102

466

Charge for the year

377

449

At 31 May 2016

741

174

915

Net book value

At 31 May 2016

3,432

214

3,646

At 31 May 2015

1,344

286

1,630

ICE SCULPTING FESTIVALS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 4 -

Share capital

2016

2015

Allotted, called up and fully paid

300 Ordinary share of £1 each

300

100

Ultimate parent company

There is no party that has ultimate control of the company.