Abbreviated Company Accounts - INDO-CELTIC LIMITED

INDO-CELTIC LIMITED - Company Information

07968368 INDO-CELTIC LIMITED 2016-02-29 false 2015-03-01 2016-02-29 true 07968368 2015-03-01 2016-02-29 07968368 2016-02-29 07968368 2015-02-28 07968368 uk-gaap-cd-bus:Director1 2015-03-01 2016-02-29 07968368 uk-gaap-cd-bus:Director2 2015-03-01 2016-02-29 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-01 2016-02-29 uk-gaap-cd-bus:OrdinaryShareClass1 2016-02-29 uk-gaap-cd-bus:OrdinaryShareClass1 2015-02-28 iso4217:GBP shares

Registered Number 07968368

INDO-CELTIC LIMITED

Abbreviated Accounts

29 February 2016

INDO-CELTIC LIMITED Registered Number 07968368

Abbreviated Balance Sheet as at 29 February 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	421	-
		421	-
Current assets
Stocks		1,168,968	-
Debtors		198,970	108
Cash at bank and in hand		4,408	2,144
		1,372,346	2,252
Creditors: amounts falling due within one year		(1,449,321)	(53,138)
Net current assets (liabilities)		(76,975)	(50,886)
Total assets less current liabilities		(76,554)	(50,886)
Total net assets (liabilities)		(76,554)	(50,886)
Capital and reserves
Called up share capital	3	1	1
Profit and loss account		(76,555)	(50,887)
Shareholders' funds		(76,554)	(50,886)

For the year ending 29 February 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.

Approved by the Board on 31 January 2017

And signed on their behalf by:
A Singh, Director

INDO-CELTIC LIMITED Registered Number 07968368

Notes to the Abbreviated Accounts for the period ended 29 February 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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).

Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful economic life of that asset as follows:
Equipment - 25%

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the
contractual arrangement, as either financial assets, financial liabilities or equity instruments. An
equity instrument is any contract that evidences a residual interest in the assets of the company
after deducting all of its liabilities.

Going Concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

2Tangible fixed assets

	£
Cost
At 1 March 2015	-
Additions	562
Disposals	-
Revaluations	-
Transfers	-
At 29 February 2016	562
Depreciation
At 1 March 2015	-
Charge for the year	141
On disposals	-
At 29 February 2016	141
Net book values
At 29 February 2016	421
At 28 February 2015	-

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
1 Ordinary shares of £1 each	1	1