It's Corporate Entertainment Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC185929 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

It's Corporate Entertainment Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTOR:

R Rock

SECRETARY:

Ms L Oliver

REGISTERED OFFICE:

60 Constitution Street

Edinburgh

EH6 6RR

REGISTERED NUMBER:

SC185929 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

FIXED ASSETS

Tangible assets

2

77,534

89,251

CURRENT ASSETS

Stocks

11,800

Debtors

2,388

5,908

Cash at bank and in hand

1

2,977

14,189

20,685

CREDITORS

Amounts falling due within one year

3

474,485

477,253

NET CURRENT LIABILITIES

(460,296

)

(456,568

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(382,762

)

(367,317

)

CAPITAL AND RESERVES

Called up share capital

4

20,001

Profit and loss account

(402,763

)

(387,318

)

SHAREHOLDERS' FUNDS

(382,762

)

(367,317

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 31 October 2016 and were signed by:

R Rock - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis. However, at the year end the company is insolvent. The director

has confirmed his continued financial support until such times as the company begins to trade profitably, in order that the

company can meet its obligations as they fall due.

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 January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. The company's policy is to recognise a sale

when the company obtains the right to consideration.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

588,464

Additions

14,273

At 31 December 2015

602,737

DEPRECIATION

At 1 January 2015

499,213

Charge for year

25,990

At 31 December 2015

525,203

NET BOOK VALUE

At 31 December 2015

77,534

At 31 December 2014

89,251

3.

CREDITORS

Creditors include an amount of £ 5,640 (31.12.14 - £ 18,797 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

20,001

Ordinary

£1

20,001

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) 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 It's Corporate Entertainment Limited for the year ended 31 December 2015 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the director of It's Corporate Entertainment Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of It's Corporate Entertainment Limited and state those matters that we have agreed to state to the director of It's Corporate Entertainment Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that It's Corporate Entertainment 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 It's Corporate Entertainment Limited. You consider that It's Corporate Entertainment 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 It's Corporate Entertainment 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.

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

31 October 2016