Company Registration No. 08611591 (England and Wales)
THE IGCC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
PAGES FOR FILING WITH REGISTRAR
THE IGCC LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
Notes to the financial statements
2 - 3
THE IGCC LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2018
31 December 2018
- 1 -
2018
2017
Notes
£
£
£
£
Current assets
Debtors
3
31,166
29,956
Cash at bank and in hand
2,845
3,750
34,011
33,706
Creditors: amounts falling due within one year
4
(136,523)
(121,411)
Net current liabilities
(102,512)
(87,705)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(102,513)
(87,706)
Total equity
(102,512)
(87,705)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 18 September 2019 and are signed on its behalf by:
T Clark
Director
Company Registration No. 08611591
THE IGCC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
- 2 -
1
Accounting policies
Company information
The IGCC Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
180 Great Portland Street, London, W1W 5QZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for music recording royalties, net of VAT.
1.3
Financial instruments
The company has
only basic
financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction
.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans
are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction
.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2017 - 3)
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
25,275
26,201
Other debtors
5,891
3,755
31,166
29,956
THE IGCC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 3 -
4
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
2,260
-
Other creditors
134,263
121,411
136,523
121,411