Inter-Continent Couriers Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01975996

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2016

FOR

INTER-CONTINENT COURIERS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J.G Patel

N Gogna

M A Maved

S Gogna

SECRETARY:

M A Maved

REGISTERED OFFICE:

Unit 25 Phoenix Distribution Park

Phoenix Way

Heston

Middlesex

TW5 9NB

REGISTERED NUMBER:

01975996

ACCOUNTANTS:

Levy + Partners Limited

Chartered Accountants

7-8 Ritz Parade

Western Avenue

London

W5 3RA

FIXED ASSETS

Tangible assets

2

6,355

9,322

Investments

3

9,000

9,000

15,355

18,322

CURRENT ASSETS

Debtors

264,827

479,253

Cash at bank and in hand

90,094

27,093

354,921

506,346

CREDITORS

Amounts falling due within one year

134,777

200,890

NET CURRENT ASSETS

220,144

305,456

TOTAL ASSETS LESS CURRENT LIABILITIES

235,499

323,778

CREDITORS

Amounts falling due after more than one year

-

821

NET ASSETS

235,499

322,957

CAPITAL AND RESERVES

Called up share capital

4

218,852

218,852

Profit and loss account

16,647

104,105

SHAREHOLDERS' FUNDS

235,499

322,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 10th March 2017 and were signed on its behalf by:

J.G Patel - Director

N Gogna - Director

1.	ACCOUNTING POLICIES

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).

Preparation of consolidated financial statements

The financial statements contain information about Inter-Continent Couriers Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of

the Companies Act 2006 not to prepare consolidated financial statements.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small

company.

Turnover and revenue recognition

Turnover represents net invoiced sales of goods, excluding value added tax.

The revenue is recognised for the services as the services are performed.

Tangible fixed assets

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

Fixtures, fittings and equipment at varying rates on cost

Improvement to Property 50% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

A deferred tax asset is regarded as recoverable and therefor recognised only when, on the basis of all available evidence, it

can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the

underlying timing difference can be deducted.

Deferred tax is measured on a nondiscounted basic, at the average tax rates that are expected to apply in the periods in

which the timing difference are expected to reserve, based on tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Pensions

Turnover

Going concern

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2015

98,887

Additions

2,829

Disposals

(12,949

)

At 30th June 2016

88,767

DEPRECIATION

At 1st July 2015

89,565

Charge for year

2,289

Eliminated on disposal

(9,442

)

At 30th June 2016

82,412

NET BOOK VALUE

At 30th June 2016

6,355

At 30th June 2015

9,322

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st July 2015

and 30th June 2016

9,090

PROVISIONS

At 1st July 2015

and 30th June 2016

90

NET BOOK VALUE

At 30th June 2016

9,000

At 30th June 2015

9,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Global Express Limited

Country of incorporation: U.K.

Nature of business: Courier services

%

Class of shares:

holding

Ordinary

100.00

30.6.16

30.6.15

£

£

Aggregate capital and reserves

13,053

62,751

Profit for the year

302

1,960

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

£

218,852

Ordinary

1

218,852

218,852

5.	RELATED PARTY DISCLOSURES

6.	ULTIMATE CONTROLLING PARTY