International Communications Consultancy Organisation Ltd - Period Ending 2016-12-31

Registration number: 02426198

International Communications Consultancy Organisation Ltd

Annual Report and Unaudited Financial Statements (Filleted)

for the Year Ended 31 December 2016

Manningtons
Chartered accountants
39 High Street
Battle
East Sussex
TN33 0EE

International Communications Consultancy Organisation Ltd

Contents

Company Information	1
Balance Sheet	2
Statement of Changes in Equity	3
Notes to the Financial Statements	4 to 6

International Communications Consultancy Organisation Ltd

Company Information

Directors

Francis Ingham Charlene Corrin

Company secretary

Manningtons Ltd

Registered office

82 Great Suffolk Street London SE1 0BE

Accountants

Manningtons Chartered accountants 39 High Street Battle East Sussex TN33 0EE

Page 1

International Communications Consultancy Organisation Ltd

(Registration number: 02426198)
Balance Sheet as at 31 December 2016

	Note	2016 €	2015 €
Fixed assets
Intangible assets	4	11,358	13,292
Current assets
Debtors	5	146,692	79,011
Cash at bank and in hand		44,948	34,982
		191,640	113,993
Creditors: Amounts falling due within one year	6	(130,553)	(58,740)
Net current assets		61,087	55,253
Total assets less current liabilities		72,445	68,545
Provisions for liabilities		(236)	-
Net assets		72,209	68,545
Capital and reserves
Profit and loss account		72,209	68,545
Total equity		72,209	68,545

For the financial year ending 31 December 2016 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 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 has been taken.

Approved and authorised by the Board on 28 September 2017 and signed on its behalf by:
 

.........................................

Francis Ingham

Director

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 2

International Communications Consultancy Organisation Ltd

Statement of Changes in Equity for the Year Ended 31 December 2016

	Profit and loss account €	Total €
At 1 January 2016	68,545	68,545
Surplus for the year	3,664	3,664
Total comprehensive income	3,664	3,664
At 31 December 2016	72,209	72,209

	Profit and loss account €	Total €
At 1 January 2015	67,258	67,258
Surplus for the year	1,287	1,287
Total comprehensive income	1,287	1,287
At 31 December 2015	68,545	68,545

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 3

International Communications Consultancy Organisation Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a company limited by guarantee incorporated in England and Wales.

The address of its registered office is:
82 Great Suffolk Street
London
SE1 0BE

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.

Foreign currency transactions and balances

Transcations in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
New website costs	25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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International Communications Consultancy Organisation Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2015 - 2).

4	Intangible assets

	New website costs  €	Total €
Cost or valuation
At 1 January 2016	17,106	17,106
Additions acquired separately	3,123	3,123
At 31 December 2016	20,229	20,229
Amortisation
At 1 January 2016	3,814	3,814
Amortisation charge	5,057	5,057
At 31 December 2016	8,871	8,871
Carrying amount
At 31 December 2016	11,358	11,358
At 31 December 2015	13,292	13,292

5

Debtors

	2016 €	2015 €
Trade debtors	142,845	74,472
Other debtors	3,847	4,539
Total current trade and other debtors	146,692	79,011

Page 5

International Communications Consultancy Organisation Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

6

Creditors

	Note	2016 €	2015 €
Due within one year
Bank loans and overdrafts	7	2,470	-
Trade creditors		91,888	47,520
Taxation and social security		-	1,237
Other creditors		36,195	9,983
		130,553	58,740

7	Loans and borrowings

	2016 €	2015 €
Current loans and borrowings
Bank overdrafts	2,470	-

Page 6