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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2016 |
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INDEPENDENT CAPITAL CORPORATION LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2016 |
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FOR |
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INDEPENDENT CAPITAL CORPORATION LIMITED |
INDEPENDENT CAPITAL CORPORATION LIMITED (REGISTERED NUMBER: 02824402) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 November 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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INDEPENDENT CAPITAL CORPORATION LIMITED |
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COMPANY INFORMATION |
for the Year Ended 30 November 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
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BANKERS: |
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INDEPENDENT CAPITAL CORPORATION LIMITED (REGISTERED NUMBER: 02824402) |
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BALANCE SHEET |
30 November 2016 |
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30.11.16 | 30.11.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Debtors | 3 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one
year |
4 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Profit and loss account | 7 | ( |
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SHAREHOLDERS' FUNDS | 13 | ( |
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The director acknowledges his 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. |
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The financial statements were approved by the director on
were signed by: |
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INDEPENDENT CAPITAL CORPORATION LIMITED (REGISTERED NUMBER: 02824402) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 November 2016 |
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1. | ACCOUNTING POLICIES |
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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 January 2015). |
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Turnover |
Turnover represents the fees and commissions received from management and |
consultancy services. |
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Tangible fixed assets |
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Furniture and fittings - 10% reducing balance |
Computer equipment - 25% reducing balance |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have |
originated but not reversed at the balance sheet date. No deferred tax was |
provided because of the insignificant timing difference on the interest |
receivable during the year. |
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Foreign currencies |
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 rate |
of exchange ruling at the date of transaction. Exchange differences are |
taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions |
payable to the company's pension scheme are charged to the profit and loss |
account in the period to which they relate. |
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Going concern |
The Financial Statements have been prepared on a going concern basis, not |
withstanding that there is a deficiency of assets as at 30 November 2016 |
amounting to £257,450, the validity of which is dependent on the continued |
financial support of the directors and shareholder. On the basis, the |
directors consider that it is appropriate for the financial statements to |
be prepared on the going concern basis. |
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2. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2015 |
and 30 November 2016 |
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DEPRECIATION |
At 1 December 2015 |
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Charge for year |
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At 30 November 2016 |
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NET BOOK VALUE |
At 30 November 2016 |
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At 30 November 2015 |
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INDEPENDENT CAPITAL CORPORATION LIMITED (REGISTERED NUMBER: 02824402) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 November 2016 |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.16 | 30.11.15 |
£ | £ |
Other debtors | 267 | 153,946 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.16 | 30.11.15 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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5. | LOANS |
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An analysis of the maturity of loans is given below: |
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30.11.16 | 30.11.15 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.16 | 30.11.15 |
value: | £ | £ |
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Ordinary Shares | 1.00 |
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7. | RESERVES |
Profit |
and loss |
account |
£ |
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At 1 December 2015 | ( |
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Deficit for the year | ( |
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At 30 November 2016 | ( |
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8. | CONTINGENT LIABILITIES |
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There were no contingent liabilities at balance sheet date. |
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9. | CAPITAL COMMITMENTS |
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No major capital commitments as at 30 November 2016. |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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Included in other creditors is a balance of £87,619 (2015: £263,849) owed |
to J.M Chamboulive, director of the company. |
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11. | POST BALANCE SHEET EVENTS |
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There were no post balance sheet events to disclose. |
INDEPENDENT CAPITAL CORPORATION LIMITED (REGISTERED NUMBER: 02824402) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 November 2016 |
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12. | ULTIMATE CONTROLLING PARTY |
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J.M Chamboulive is the controlling party by virtue of his 100% |
shareholdings in the company. |
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13. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
30.11.16 | 30.11.15 |
£ | £ |
Loss for the financial year | ( |
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Issue of shares |
Adj to Shareholders fund |
Net reduction of shareholders' funds | ( |
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Opening shareholders' funds | ( |
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Closing shareholders' funds | ( |
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