INTERGOLD_DESIGN_LIMITED - Accounts

INTERGOLD DESIGN LIMITED - Company Information

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Company Registration No. 04450295 (England and Wales)

INTERGOLD DESIGN LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

INTERGOLD DESIGN LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

INTERGOLD DESIGN LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

22,017

9,138

Current assets

Debtors

309,827

299,544

Cash at bank and in hand

82,381

110,487

392,208

410,031

Creditors: amounts falling due within one year

(408,919)

(413,660)

Net current liabilities

(16,711)

(3,629)

Total assets less current liabilities

5,306

5,509

Capital and reserves

Called up share capital

Profit and loss account

5,305

5,508

Shareholders' funds

5,306

5,509

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 28 February 2017

Mr Jonathan Yeo

Director

Company Registration No. 04450295

INTERGOLD DESIGN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 2 -

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).

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

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

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:

Land and buildings Leasehold

Straight line over the length of the lease

Fixtures, fittings & equipment

25% straight line basis

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 June 2015

79,696

Additions

18,683

At 31 May 2016

98,379

Depreciation

At 1 June 2015

70,558

Charge for the year

5,804

At 31 May 2016

76,362

Net book value

At 31 May 2016

22,017

At 31 May 2015

9,138

INTERGOLD DESIGN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

1 Ordinary Shares of £1 each

Transactions with directors

Included in other debtors is £197,399 (2015: £230,974) the amount being attributable to the overdrawn directors current account. Interest of 3% (as per HMRC rates) on overdrawn amounts during the year have been charged by the company to the director for a total of £6.331. S455. Corporation Tax is payable on the loan.

Ultimate parent company

The company was under the control of Mr. J Yeo, the managing director, along with close family members by virtue of their majority shareholding in the company.