NGC Corp International Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08901162 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

NGC Corp International Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Wheeler

A Van Witzenburg

A C Johnson

SECRETARY:

A Van Witzenburg

REGISTERED OFFICE:

6th Floor

60 Gracechurch Street

London

EC3V 0HR

BUSINESS ADDRESS:

Crowthorne House

Nine Mile Ride

Wokingham

Berkshire

RG40 3GE

REGISTERED NUMBER:

08901162 (England and Wales)

ACCOUNTANTS:

Kelly & Associates

7 Brackenwood

Sunbury on Thames

Middlesex

TW16 6SQ

FIXED ASSETS

Investments

3

122,570

122,570

CREDITORS

Amounts falling due within one year

4

2,401

2,401

NET CURRENT LIABILITIES

(2,401

)

(2,401

)

TOTAL ASSETS LESS CURRENT LIABILITIES

120,169

120,169

CREDITORS

Amounts falling due after more than one year

5

147,739

146,526

NET LIABILITIES

(27,570

)

(26,357

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(27,670

)

(26,457

)

SHAREHOLDERS' FUNDS

(27,570

)

(26,357

)

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 20 September 2017 and were signed on its behalf by:

A Van Witzenburg - Director

1.	STATUTORY INFORMATION

NGC Corp International 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.

Preparation of consolidated financial statements

The financial statements contain information about NGC Corp International Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated

financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries within the group.

Turnover

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

rebates, value added tax and other sales taxes.

Investments in associates

Investments in associate undertakings are recognised at cost.

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.

Fixed asset investments

Fixed asset investments are stated at cost less provision for any permanent diminution in value.

3.	FIXED ASSET INVESTMENTS

Investment

in

Associate

£

COST

At 1 January 2016

and 31 December 2016

122,570

NET BOOK VALUE

At 31 December 2016

122,570

At 31 December 2015

122,570

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

NGC Corp Group Europe Limited

Registered office: Crowthorne House, Nine Mile Ride, Wokingham, Berkshire, RG40 3GE

Nature of business: Sale of corporate gift cards & fulfilment

%

Class of shares:

holding

Ordinary B

66.80

31.12.16

31.12.15

£

£

Aggregate capital and reserves

(746,536

)

(542,706

)

Loss for the year

(203,830

)

(452,491

)

The directors have not prepared group financial statements as the company is subject to the small

companies' regime.

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

1

1

Accrued expenses

2,400

2,400

2,401

2,401

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Amounts owed to group undertakings

147,739

146,526

6.	ULTIMATE CONTROLLING PARTY

National Gift Card Corp (incorporated in the United States of America) is regarded by the directors as

being the company's ultimate parent company.

The parent company has indicated that it will provide continued financial support for the foreseeable

future.

7.	FIRST YEAR ADOPTION

These are the first financial statements that comply with FRS 102. The company transitioned to FRS

102 on 1 January 2015.

No transitional adjustments were required to equity or profit or loss for the year.