Registered Number 04952530

ALL ICELAND LIMITED

Abbreviated Accounts

31 December 2012

ALL ICELAND LIMITED Registered Number 04952530

Abbreviated Balance Sheet as at 31 December 2012

Notes 2012 2011
£ £
Fixed assets
Tangible assets 2 2,950 3,082
2,950 3,082
Current assets
Debtors 116,174 43,808
Cash at bank and in hand 44,745 56,730
160,919 100,538
Creditors: amounts falling due within one year (133,565) (70,457)
Net current assets (liabilities) 27,354 30,081
Total assets less current liabilities 30,304 33,163
Total net assets (liabilities) 30,304 33,163
Capital and reserves
Called up share capital 100 100
Share premium account 30,000 30,000
Profit and loss account 204 3,063
Shareholders' funds 30,304 33,163
  • For the year ending 31 December 2012 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 July 2013

And signed on their behalf by:
Brynhildur Sverrisdottir, Director

ALL ICELAND LIMITED Registered Number 04952530

Notes to the Abbreviated Accounts for the period ended 31 December 2012

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment - 33% Straight Line

Other accounting policies
Foreign currencies

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 the transaction. Exchange differences are taken into account in arriving at the operating profit.

2Tangible fixed assets
£
Cost
At 1 January 2012 8,044
Additions 1,907
Disposals -
Revaluations -
Transfers -
At 31 December 2012 9,951
Depreciation
At 1 January 2012 4,962
Charge for the year 2,039
On disposals -
At 31 December 2012 7,001
Net book values
At 31 December 2012 2,950
At 31 December 2011 3,082