Iconiq Group Limited - Filleted accounts

Iconiq Group Limited - Filleted accounts

ICONIQ GROUP LIMITED - Company Information

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Registered number
07013447
Iconiq Group Limited
Unaudited Filleted Accounts
31 December 2016
THOMAS DAVID
Chartered Accountants
Iconiq Group Limited
Registered number: 07013447
Balance Sheet
as at 31 December 2016
Notes 2016 2015
£ £
Fixed assets
Investments 2 99 99
Current assets
Debtors 3 3,386,624 3,386,624
Cash at bank and in hand 1 1
3,386,625 3,386,625
Creditors: amounts falling due within one year 4 (3,386,624) (3,386,624)
Net current assets 1 1
Net assets 100 100
Capital and reserves
Called up share capital 100 100
Shareholders' funds 100 100
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Pritchard
Director
Approved by the board on 23 August 2017
Iconiq Group Limited
Notes to the Accounts
for the year ended 31 December 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Investments
Other
investments
£
Cost
At 1 January 2016 99
At 31 December 2016 99
3 Debtors 2016 2015
£ £
Other debtors 3,386,624 3,386,624
4 Creditors: amounts falling due within one year 2016 2015
£ £
Other creditors 3,386,624 3,386,624
5 Other information
Iconiq Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD
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