| ICE Motor Company Ltd |
| Registered number: |
07173865 |
| Abbreviated Balance Sheet |
| as at 31 March 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
7,204 |
|
|
5,862 |
|
| Current assets |
| Stocks |
|
|
276,017 |
|
|
312,000 |
| Debtors |
|
|
48,170 |
|
|
- |
| Cash at bank and in hand |
|
|
40,924 |
|
|
53,890 |
|
|
|
365,111 |
|
|
365,890 |
|
| Creditors: amounts falling due within one year |
|
|
(292,513) |
|
|
(312,262) |
|
| Net current assets |
|
|
|
72,598 |
|
|
53,628 |
|
| Net assets |
|
|
|
79,802 |
|
|
59,490 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
79,800 |
|
|
59,488 |
|
| Shareholders' funds |
|
|
|
79,802 |
|
|
59,490 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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 provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Cathy Evans |
| Director |
| Approved by the board on 10 December 2014 |
|
| ICE Motor Company Ltd |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
20/33% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2013 |
9,513 |
|
Additions |
5,313 |
|
At 31 March 2014 |
14,826 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2013 |
3,649 |
|
Charge for the year |
3,973 |
|
At 31 March 2014 |
7,622 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2014 |
7,204 |
|
At 31 March 2013 |
5,864 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Related party transactions |
|
|
The directors of ICE Motor Company Limited, are also the directors and majority shareholders of ICE Development Limited, a company registered in England and Wales. During the year, ICE Motor Company Limited issued a loan to ICE Development Limited, in the amount of £22,084. At the balance sheet date, ICE Developmet Limited were indebted to ICE Motor Company in the amount of £21,521 (2013 credit balance of £563), as shown in debtors. |
|
| 5 |
Transactions with the directors |
|
|
During the year, the company operated a loan account with the directors, as shown in other creditors. The movement on this loan account was as follows: |
|
| £ |
|
At 1 April 2013 |
240,934 |
|
Loan to company |
66,816 |
|
Repayment from company |
(97,554) |
|
|
At 31 March 2014 |
210,196 |
