Registered Number 01006417
INTERNATIONAL COATING PRODUCTS (U.K.) LIMITED
Abbreviated Accounts
31 December 2015
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Share premium account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Other accounting policies
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.
Going concern
The directors consider that the company has adequate resources to remain a going concern for the foreseeable future and have therefore prepared the accounts on a going concern basis.
Due to losses made in the past, the parent company, Materis Peintures SAS, continues to agree to support thecompany for the next twelve months.
FIXED ASSET INVESTMENTS
The company's investments at the Balance Sheet date in the share capital of companies include the following:
The company owns 53.33% of a non-trading Swedish company, International Coating Products Kommanditbolag (KB).
The company has a minority shareholding in a Chinese company in lieu of front end fees. The investment is:
Beijing New Coating Ltd - 30%.
No value will be put on this shareholding until profitable trading has been established.
ULTIMATE PARENT COMPANY
The immediate parent company is Materis Peintures SAS, which is incorporated in France. The ultimate parent undertaking is Wendel, a company registered in France. A copy of the Group Consolidated Financial Statements are available to view from 89, rue Taitbout, 75009 Paris.
RELATED PARTY DISCLOSURES
The company has taken advantage under the Financial Reporting Standard for Small Entities (effective January 2015) not to disclose related party transactions separately as these are within the Group Consolidated Financial Statements.