Inco Contracts Limited - Abbreviated accounts 16.3

Inco Contracts Limited - Abbreviated accounts 16.3

INCO CONTRACTS LIMITED - Company Information

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REGISTERED NUMBER: 07310210 (England and Wales)




















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

INCO CONTRACTS LIMITED

INCO CONTRACTS LIMITED (REGISTERED NUMBER: 07310210)






CONTENTS OF THE ABBREVIATED ACCOUNTS
For The Year Ended 30 September 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

INCO CONTRACTS LIMITED

COMPANY INFORMATION
For The Year Ended 30 September 2016







DIRECTOR: C J Ingram





REGISTERED OFFICE: Dunston Business Village
Stafford Road
Dunston
Stafford
ST18 9AB





REGISTERED NUMBER: 07310210 (England and Wales)





ACCOUNTANTS: Rochesters Audit Services Limited
Chartered Accountants
No 3 Caroline Court
13 Caroline Street
St Pauls Square
Birmingham
West Midlands
B3 1TR
Page 1
INCO CONTRACTS LIMITED (REGISTERED NUMBER: 07310210)

ABBREVIATED BALANCE SHEET
30 September 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 3,275 21,333

CURRENT ASSETS
Stocks 191,897 102,886
Debtors 460,760 929,074
Cash at bank and in hand 538,018 245,330
1,190,675 1,277,290
CREDITORS
Amounts falling due within one year 732,722 747,014
NET CURRENT ASSETS 457,953 530,276
TOTAL ASSETS LESS CURRENT
LIABILITIES
461,228
551,609

PROVISIONS FOR LIABILITIES 655 3,840
NET ASSETS 460,573 547,769

CAPITAL AND RESERVES
Called up share capital 3 25,000 25,000
Profit and loss account 435,573 522,769
SHAREHOLDERS' FUNDS 460,573 547,769

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 February 2017 and were signed by:



C J Ingram - Director


The notes form part of these abbreviated accounts

Page 2
INCO CONTRACTS LIMITED (REGISTERED NUMBER: 07310210)

NOTES TO THE ABBREVIATED ACCOUNTS
For The Year Ended 30 September 2016

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).

Revenue recognition
Turnover represents net invoiced sales of services, excluding value added tax. Revenue and costs are
recognised by reference to the stage of completion of the contract activity at the balance sheet date.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as
a loss immediately.

Construction work in progress is stated at cost plus profit recognised to date less provision for foreseeable
losses and less amounts already billed.

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

Fixtures and fittings - 20% on reducing balance
Motor vehicles - Between 5% and 25% reducing balance

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2015 36,251
Additions 291
Disposals (28,567 )
At 30 September 2016 7,975
DEPRECIATION
At 1 October 2015 14,918
Charge for year 807
Eliminated on disposal (11,025 )
At 30 September 2016 4,700
NET BOOK VALUE
At 30 September 2016 3,275
At 30 September 2015 21,333

Page 3 continued...
INCO CONTRACTS LIMITED (REGISTERED NUMBER: 07310210)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
For The Year Ended 30 September 2016

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
25,000 Ordinary £1 25,000 25,000

4. ULTIMATE PARENT COMPANY

CKI Holdings Ltd is regarded by the director as being the company's ultimate parent company.

Page 4