Micro-entity Accounts - ICONSALT UK LIMITED

ICONSALT UK LIMITED - Company Information

08840167 ICONSALT UK LIMITED 2017-01-31 false 2016-02-01 2017-01-31 true 08840167 2016-02-01 2017-01-31 08840167 2017-01-31 08840167 2016-01-31 08840167 uk-gaap-cd-bus:Director1 2016-02-01 2017-01-31 08840167 uk-gaap-cd-bus:Director2 2016-02-01 2017-01-31 08840167 uk-gaap-cd-bus:AllEntityOfficers 2016-02-01 2017-01-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-02-01 2017-01-31 uk-gaap-cd-bus:OrdinaryShareClass1 2017-01-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-01-31 iso4217:GBP shares

Registered Number 08840167

ICONSALT UK LIMITED

Micro-entity Accounts

31 January 2017

ICONSALT UK LIMITED Registered Number 08840167

Micro-entity Balance Sheet as at 31 January 2017

	Notes	2017	2016
		£	£
Fixed assets
Tangible assets	1	3,116	4,237
		3,116	4,237
Current assets
Debtors		-	924
Cash at bank and in hand		3,611	1,825
		3,611	2,749
Creditors: amounts falling due within one year		(5,014)	(5,324)
Net current assets (liabilities)		(1,403)	(2,575)
Total assets less current liabilities		1,713	1,662
Total net assets (liabilities)		1,713	1,662
Capital and reserves
Called up share capital	2	1	1
Profit and loss account		1,712	1,661
Shareholders' funds		1,713	1,662

For the year ending 31 January 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 October 2017

And signed on their behalf by:
MR ADBULNASER YOUSSEF, Director

ICONSALT UK LIMITED Registered Number 08840167

Notes to the Micro-entity Accounts for the period ended 31 January 2017

1Tangible fixed assets

	£
Cost
At 1 February 2016	7,200
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2017	7,200
Depreciation
At 1 February 2016	2,963
Charge for the year	1,121
On disposals	-
At 31 January 2017	4,084
Net book values
At 31 January 2017	3,116
At 31 January 2016	4,237

2Called Up Share Capital
Allotted, called up and fully paid:

	2017 £	2016 £
1 Ordinary shares of £1 each	1	1

3Accounting Policies

Turnover policy
Turnover is measured at the fair value of the consideration received or receivable for goods
supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of
ownership have transferred to the buyer (usually on despatch of the goods); the amount of
revenue can be measured reliably; it is probable that the associated economic benefits will flow to
the entity; and the costs incurred or to be incurred in respect of the transactions can be measured
reliably.

Tangible assets depreciation policy
Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
comprehensive income and accumulated in equity, except to the extent it reverses a revaluation
decrease of the same asset previously recognised in profit or loss. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other comprehensive income to the
extent of any previously recognised revaluation increase accumulated in equity in respect of that
asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in
equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows:
Fixtures & Fittings - 25% reducing balance
Motor vehicles - 25% reducing balance

Valuation information and policy
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating
unit to which the asset belongs. The cash-generating unit is the smallest identifiable
group of assets that includes the asset and generates cash inflows that largely independent of the
cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the company
are assigned to those units.