ICC Solutions Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03269635 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

ICC SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D J Maisey

Mrs W Maisey

SECRETARY:

Mrs W Maisey

REGISTERED OFFICE:

St James Court

Wilderspool Causeway

Warrington

Cheshire

WA4 6PS

REGISTERED NUMBER:

03269635 (England and Wales)

ACCOUNTANTS:

Livesey Spottiswood Ltd

Chartered Accountants

17 George Street

St Helens

Merseyside

WA10 1DB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

154,325

127,076

154,325

127,076

CURRENT ASSETS

Stocks

6

129,708

144,539

Debtors

7

447,701

446,413

Investments

8

-

50,000

Cash at bank and in hand

1,451,098

1,799,648

2,028,507

2,440,600

CREDITORS

Amounts falling due within one year

9

625,554

585,932

NET CURRENT ASSETS

1,402,953

1,854,668

TOTAL ASSETS LESS CURRENT LIABILITIES

1,557,278

1,981,744

PROVISIONS FOR LIABILITIES

11

28,900

23,600

NET ASSETS

1,528,378

1,958,144

CAPITAL AND RESERVES

Called up share capital

12

38,735

38,735

Retained earnings

1,489,643

1,919,409

SHAREHOLDERS' FUNDS

1,528,378

1,958,144

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 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 21 March 2017 and were signed on its behalf by:

Mr D J Maisey - Director

1.	STATUTORY INFORMATION

ICC Solutions Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistently applied to all years presented unless otherwise stated. The company adopted FRS 102 section 1A in

the current year. The transition to FRS102 Section 1A has not affected the reported financial position and performance of the

company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the

buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the

transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Turnover from the provision of support and maintenance services is recognised by reference to the stage of completion of the

transaction at the balance sheet date, the amount of turnover can be measured reliably, it is probable the economic benefits

associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured

reliably.

Intellectual property

Purchased intellectual property is amortised on a straight-line basis over its estimated useful economic life of 10 years.

Tangible fixed assets

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

Improvements to property

-

Over the term of the lease

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on cost

Stocks

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

and slow moving items.

Cost is calculated using the first in first out cost method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

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 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 46 (2015 - 36 ) .

4.	INTANGIBLE FIXED ASSETS

Intellectual

Property

£

COST

At 1 January 2016

and 31 December 2016

17,735

AMORTISATION

At 1 January 2016

and 31 December 2016

17,735

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2016

5,167

73,416

147,076

225,659

Additions

3,860

5,051

58,078

66,989

At 31 December 2016

9,027

78,467

205,154

292,648

DEPRECIATION

At 1 January 2016

431

34,236

63,916

98,583

Charge for year

2,127

8,219

29,394

39,740

At 31 December 2016

2,558

42,455

93,310

138,323

NET BOOK VALUE

At 31 December 2016

6,469

36,012

111,844

154,325

At 31 December 2015

4,736

39,180

83,160

127,076

6.

STOCKS

2016

2015

£

£

Stocks

129,708

144,539

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

351,222

394,959

Other debtors

-

1,796

VAT

2,296

18,556

Prepayments and accrued income

94,183

31,102

447,701

446,413

8.	CURRENT ASSET INVESTMENTS

2016

2015

£

£

Other

-

50,000

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

37,812

48,058

Corporation tax

56,200

136,185

Social security and other

taxes

28,495

48,069

Directors' loan accounts

11

153

Accruals and deferred income

503,036

353,467

625,554

585,932

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2016

2015

£

£

Within one year

621

621

Between one and five years

411,594

530,538

412,215

531,159

11.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

28,900

23,600

Deferred

tax

£

Balance at 1 January 2016

23,600

Accelerated capital allowances

5,300

Balance at 31 December 2016

28,900

Full provision has been made for deferred taxation which is wholly in respect of accelerated capital allowances.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

38,735

Ordinary

£1

38,735

38,735