Company Registration No. 10383973 (England and Wales)
International Community Schools Limited
Unaudited accounts
for the year ended 31 August 2017
International Community Schools Limited
Unaudited accounts
Contents
International Community Schools Limited
Company Information
for the year ended 31 August 2017
Director
Sergio Ricardo Gonzalez Andion
Company Number
10383973 (England and Wales)
Registered Office
7B Wyndham Place
London
W1H 1PN
England
International Community Schools Limited
Statement of financial position
as at 31 August 2017
Cash at bank and in hand
635,831
Creditors: amounts falling due within one year
(3,167,245)
Net current liabilities
(1,700,359)
Net liabilities
(1,650,938)
Profit and loss account
(1,650,939)
Shareholders' funds
(1,650,938)
For the year ending 31 August 2017 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 31 May 2018.
Sergio Ricardo Gonzalez Andion
Director
Company Registration No. 10383973
International Community Schools Limited
Notes to the Accounts
for the year ended 31 August 2017
International Community Schools Limited is a private company, limited by shares, registered in England and Wales, registration number 10383973. The registered office is 7B Wyndham Place, London, W1H 1PN, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% straight line basis
Fixtures & fittings
15% straight line basis
Computer equipment
20% straight line basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
International Community Schools Limited
Notes to the Accounts
for the year ended 31 August 2017
4
Tangible fixed assets
Total
The company is controlled by its parent company Nace International Ltd.
6
Average number of employees
During the year the average number of employees was 102.
