Icarus Collective Limited - Period Ending 2017-09-30

Registration number: 04287646

Icarus Collective Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2017

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

Icarus Collective Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 4

Icarus Collective Limited

Company Information

Directors	H E Bovey S H Smith

Company secretary

H E Bovey

Registered office

The Old Vicarage 51 St John Street Ashbourne Derbyshire DE6 1GP

Accountants

Coates and Partners Limited Chartered Accountants The Old Vicarage 51 St John Street Ashbourne Derbyshire DE6 1GP

Page 1

Icarus Collective Limited

(Registration number: 04287646)
Balance Sheet as at 30 September 2017

	Note	2017 £	2016 £
Current assets
Debtors	3	28,812	27,675
Cash at bank and in hand		41,826	24,913
		70,638	52,588
Creditors: Amounts falling due within one year	4	(63,581)	(34,990)
Net assets		7,057	17,598
Capital and reserves
Allotted, called up and fully paid share capital	5	300	300
Profit and loss account		6,757	17,298
		7,057	17,598
Total equity		7,057	17,598

For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.

Approved and authorised by the Board on 10 January 2018 and signed on its behalf by:
 

......................................... H E Bovey Company secretary and director

The notes on pages 3 to 4 form an integral part of these financial statements.

Page 2

Icarus Collective Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 04287646.

The address of its registered office is:
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

These financial statements were authorised for issue by the Board on 10 January 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Page 3

Icarus Collective Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

3

Debtors

	2017 £	2016 £
Trade debtors	27,733	18,473
Prepayments	1,079	55
Other debtors	-	9,147
	28,812	27,675

4

Creditors

Creditors: amounts falling due within one year

	2017 £	2016 £
Due within one year
Trade creditors	21,436	20,600
Taxation and social security	9,221	162
Accruals and deferred income	32,924	14,228
	63,581	34,990

5	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary shares of £1 each	300	300	300	300

6	Transition to FRS 102

There were no transition adjustments to be made.

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