(IPC) Industrial Power Cooling Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 03792602 (England and Wales)

(IPC) INDUSTRIAL POWER COOLING LIMITED

Financial Statements for the Year Ended 31 December 2016

Page

Company Information

1

Abridged Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTOR:

N A Hart

SECRETARY:

Mrs A R Hart

REGISTERED OFFICE:

Orchard Cottage

Barston Lane

Barston

Solihull

West Midlands

B92 0JP

REGISTERED NUMBER:

03792602 (England and Wales)

ACCOUNTANTS:

Eden Currie Limited

Chartered Accountants

Pegasus House

Solihull Business Park

Solihull

West Midlands

B90 4GT

FIXED ASSETS

Tangible assets

4

3,287

4,971

CURRENT ASSETS

Debtors

199,458

27,660

Cash at bank

207,841

81,599

407,299

109,259

CREDITORS

Amounts falling due within one year

206,219

62,097

NET CURRENT ASSETS

201,080

47,162

TOTAL ASSETS LESS CURRENT LIABILITIES

204,367

52,133

CAPITAL AND RESERVES

Share capital

5

200

200

Retained earnings

204,167

51,933

SHAREHOLDERS' FUNDS

204,367

52,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21 March 2017 and were signed by:

N A Hart - Director

1.	STATUTORY INFORMATION

(IPC) Industrial Power Cooling Limited is a private company, limited by shares , registered in

England and Wales. The company's registered number and registered office address can be found on

the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Leashold Property Improvements

-

20% on cost

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

and 31 December 2016

18,981

DEPRECIATION

At 1 January 2016

14,010

Charge for year

1,684

At 31 December 2016

15,694

NET BOOK VALUE

At 31 December 2016

3,287

At 31 December 2015

4,971

5.	SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary "B"

£1

100

100

55

Ordinary "A"

£1

55

55

35

Ordinary "C"

£1

35

35

5

Ordinary "D"

£1

5

5

5

Ordinary "E"

£1

5

5

200

200