In-Corporate Development Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05404260 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

In-Corporate Development Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I Atkinson

R A Tait FCCA

Janus Consulting BVBA

SECRETARY:

R A Tait FCCA

REGISTERED OFFICE:

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

REGISTERED NUMBER:

05404260 (England and Wales)

ACCOUNTANTS:

Inspire Chartered Accountants

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

FIXED ASSETS

Intangible assets

2

182,695

-

Tangible assets

3

19

309

182,714

309

CURRENT ASSETS

Debtors

229,722

53,607

Cash at bank

43,152

197,080

272,874

250,687

CREDITORS

Amounts falling due within one year

367,848

120,626

NET CURRENT (LIABILITIES)/ASSETS

(94,974

)

130,061

TOTAL ASSETS LESS CURRENT LIABILITIES

87,740

130,370

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

87,739

130,369

SHAREHOLDERS' FUNDS

87,740

130,370

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 December 2015 and were signed on its behalf by:

R A Tait FCCA - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right

to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end,

turnover represents the value of the service provided to that date based on an appropriate proportion of the total

expected consideration at completion.

Other intangible assets

The company has developed various items of intellectual property to be used in the development and delivery of learning

initiatives. The company has capitalised the costs incurred in developing this intellectual property and recognised it as an

intangible asset.

Once in use, the intellectual property is to be amortised over a 10 year period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

182,695

At 31 March 2015

182,695

NET BOOK VALUE

At 31 March 2015

182,695

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

2,479

DEPRECIATION

At 1 April 2014

2,170

Charge for year

290

At 31 March 2015

2,460

NET BOOK VALUE

At 31 March 2015

19

At 31 March 2014

309

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

1

Ordinary

£1

1

1

5.	ULTIMATE PARENT COMPANY

In-Corporate Holdings Limited is regarded by the directors as being the company's ultimate parent company.