Ikon Associates Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04086949 (England and Wales)

IKON ASSOCIATES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A J Shaw

J L Shaw

REGISTERED OFFICE:

Mount Manor House

16 The Mount

Guildford

Surrey

GU2 4HN

REGISTERED NUMBER:

04086949 (England and Wales)

FIXED ASSETS

Intangible assets

2

6,000

7,000

Tangible assets

3

536

3,239

6,536

10,239

CURRENT ASSETS

Debtors

20,122

6,315

Cash at bank

20,013

2,642

40,135

8,957

CREDITORS

Amounts falling due within one year

37,105

26,395

NET CURRENT ASSETS/(LIABILITIES)

3,030

(17,438

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,566

(7,199

)

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

9,564

(7,201

)

SHAREHOLDERS' FUNDS

9,566

(7,199

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 24 July 2017 and were signed on its
behalf by:

A J Shaw - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company has net current assets of £3,030 (2015 - net current liabilities of £17,438). The

company's directors have indicated they will continue to support the company for the foreseeable

future.

The accounts are prepared on a going concern basis. The use of the going concern basis of

accounting is appropriate because there are no material uncertainties related to events or conditions

that may cast significant doubt about the ability of the company to continue as a going concern.

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).

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

Turnover represents amounts receivable in respect of sales of services, net of value added tax.

Turnover is recognised in the period to which it relates.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

50% on cost

Taxation

The charge for taxation is based on the profit for the year and takes into account taxation deferred.

Current tax is measured at amounts expected to be paid using the tax rates and laws that have been

enacted or substantially enacted by the balance sheet date.

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

the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

10,000

AMORTISATION

At 1 November 2015

3,000

Amortisation for year

1,000

At 31 October 2016

4,000

NET BOOK VALUE

At 31 October 2016

6,000

At 31 October 2015

7,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

13,464

Additions

570

Disposals

(2,325

)

At 31 October 2016

11,709

DEPRECIATION

At 1 November 2015

10,225

Charge for year

2,692

Eliminated on disposal

(1,744

)

At 31 October 2016

11,173

NET BOOK VALUE

At 31 October 2016

536

At 31 October 2015

3,239

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2