Company Registration No. 08530420 (England and Wales)
I6 Systems Limited
Unaudited accounts
for the year ended 31 March 2017
I6 Systems Limited
Unaudited accounts
Contents
I6 Systems Limited
Company Information
for the year ended 31 March 2017
Directors
Alexander Mattos
Steven Uhrmacher
Company Number
08530420 (England and Wales)
Registered Office
Farnborough Airport
Ively Road
Farnborough
Hampshire
GU14 6XA
Accountants
Chris Mattos Tax
Willow Court, The Old Police Station
Beeches Green
Stroud
Glos
GL5 4BJ
I6 Systems Limited
Statement of financial position
as at 31 March 2017
Tangible assets
15,754
10,696
Cash at bank and in hand
145,024
53,829
Creditors: amounts falling due within one year
(119,332)
(559,023)
Net current assets
172,550
100,486
Total assets less current liabilities
188,304
111,182
Creditors: amounts falling due after more than one year
(168,384)
-
Provisions for liabilities
Deferred tax
(2,993)
(2,139)
Called up share capital
2
2
Profit and loss account
16,925
109,041
Shareholders' funds
16,927
109,043
For the year ending 31 March 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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.
Approved by the Board on 26 June 2017.
Alexander Mattos
Director
Company Registration No. 08530420
I6 Systems Limited
Notes to the Accounts
for the year ended 31 March 2017
I6 Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 08530420. The registered office and principal place of business is Farnborough Airport, Ively Road, Farnborough, Hampshire, GU14 6XA.
2
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.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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.
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:
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.
Expenditure on research and development is written off in the year in which it is incurred.
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them
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.
I6 Systems Limited
Notes to the Accounts
for the year ended 31 March 2017
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Plant & machinery
Charge for the year
11,011
Trade debtors
146,858
585,636
Accrued income and prepayments
-
20,044
6
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
135,754
-
Trade creditors
19,173
47,246
Corporation tax
(73,629)
(5,471)
Other taxes and social security costs
26,059
103,524
Loans from directors
11,975
18,578
7
Creditors: amounts falling due after more than one year
2017
2016
8
Average number of employees
During the year the average number of employees was 14 (2016: 10).
