Intercool Systems Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03679781 (England and Wales)

Intercool Systems Limited

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2016

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Tangible assets

2

42,242

59,536

CURRENT ASSETS

Stocks

2,975

3,104

Debtors

57,397

54,008

Cash at bank

3,400

22,423

63,772

79,535

CREDITORS

Amounts falling due within one year

3

54,361

60,569

NET CURRENT ASSETS

9,411

18,966

TOTAL ASSETS LESS CURRENT
LIABILITIES

51,653

78,502

CREDITORS

Amounts falling due after more than one
year

3

(9,933

)

(21,482

)

PROVISIONS FOR LIABILITIES

(8,448

)

(11,907

)

NET ASSETS

33,272

45,113

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

33,271

45,112

SHAREHOLDERS' FUNDS

33,272

45,113

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 director on 22 June 2017 and were signed by:

M J Walsh - 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).

Turnover

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

recognised on completion of installation or repair.

Tangible fixed assets

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:

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

Computer Equipment

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

93,047

Additions

690

Disposals

(12,595

)

At 30 September 2016

81,142

DEPRECIATION

At 1 October 2015

33,511

Charge for year

13,999

Eliminated on disposal

(8,610

)

At 30 September 2016

38,900

NET BOOK VALUE

At 30 September 2016

42,242

At 30 September 2015

59,536

3.

CREDITORS

Creditors include an amount of £ 21,483 (2015 - £ 34,007 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary shares

£1

1