Ionica UK Limited - Period Ending 2016-06-30

Registration number: 06271387

Ionica UK Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 30 June 2016

Coates and Partners Limited
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

Ionica UK Limited

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2 to 3
Notes to the Abbreviated Accounts	4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ionica UK Limited
for the Year Ended 30 June 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ionica UK Limited for the year ended 30 June 2016 set out on pages 2 to 5 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Ionica UK Limited, as a body, in accordance with the terms of our engagement letter dated 22 April 2016. Our work has been undertaken solely to prepare for your approval the accounts of Ionica UK Limited and state those matters that we have agreed to state to them, 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 Ionica UK Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ionica UK Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ionica UK Limited. You consider that Ionica UK 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 accounts of Ionica UK 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 accounts.

......................................

Coates and Partners Limited
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

30 January 2017

Page 1

Ionica UK Limited

(Registration number: 06271387)
Abbreviated Balance Sheet as at 30 June 2016

	Note	2016  £	2015  £
Fixed assets
Tangible assets		1,192	1,758
Current assets
Stocks		1,963	-
Debtors		27,488	8,768
Cash at bank and in hand		35,169	16,702
		64,620	25,470
Creditors: Amounts falling due within one year		(54,457)	(25,112)
Net current assets		10,163	358
Total assets less current liabilities		11,355	2,116
Provisions for liabilities		-	(110)
Net assets		11,355	2,006
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		11,255	1,906
Shareholders' funds		11,355	2,006

For the year ending 30 June 2016 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.

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Ionica UK Limited

(Registration number: 06271387)
Abbreviated Balance Sheet as at 30 June 2016

Approved by the Board on 30 January 2017 and signed on its behalf by:

.........................................
A M Hellaby
Director

.........................................
J Morris
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Ionica UK Limited

Notes to the Abbreviated Accounts

1

Accounting policies

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
Plant and machinery	25% reducing balance basis
Computer equipment	33.33% reducing balance basis

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.

Provisions

A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

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 the FRSSE.

Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 4

Ionica UK Limited

Notes to the Abbreviated Accounts

2

Fixed assets

	Tangible assets £	Total £
Cost
At 1 July 2015	10,308	10,308
Additions	199	199
Disposals	(1,822)	(1,822)
At 30 June 2016	8,685	8,685
Depreciation
At 1 July 2015	8,550	8,550
Charge for the year	685	685
Eliminated on disposals	(1,742)	(1,742)
At 30 June 2016	7,493	7,493
Net book value
At 30 June 2016	1,192	1,192
At 30 June 2015	1,758	1,758

3

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary A shares of £1 each	50	50	50	50
Ordinary B shares of £1 each	50	50	50	50
	100	100	100	100

4

Control

The directors are the controlling party by virtue of their controlling shareholding in the company.

Page 5