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Company Registration No. 07137343 (England and Wales)
ICTS Havant Ltd Unaudited accounts for the year ended 31 January 2023
ICTS Havant Ltd Unaudited accounts Contents
Page
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ICTS Havant Ltd Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
25,598 
32,422 
Current assets
Inventories
58,600 
61,718 
Debtors
145,816 
197,365 
Cash at bank and in hand
- 
2,253 
204,416 
261,336 
Creditors: amounts falling due within one year
(152,433)
(181,416)
Net current assets
51,983 
79,920 
Total assets less current liabilities
77,581 
112,342 
Creditors: amounts falling due after more than one year
(24,167)
(36,094)
Provisions for liabilities
Deferred tax
(115)
(1,079)
Net assets
53,299 
75,169 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
53,199 
75,069 
Shareholders' funds
53,299 
75,169 
For the year ending 31 January 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 October 2023 and were signed on its behalf by
David Anthony Glover Director Company Registration No. 07137343
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ICTS Havant Ltd Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
ICTS Havant Ltd is a private company, limited by shares, registered in England and Wales, registration number 07137343. The registered office is 22A Rake Industries, Canhouse Lane, Petersfield, GU31 5DU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on the reducing balance
Motor vehicles
25% on the reducing balance
Computer equipment
25% on the reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing or completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
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ICTS Havant Ltd Notes to the Accounts for the year ended 31 January 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2022
24,457 
83,708 
1,400 
109,565 
Additions
- 
- 
1,708 
1,708 
At 31 January 2023
24,457 
83,708 
3,108 
111,273 
Depreciation
At 1 February 2022
14,542 
61,201 
1,400 
77,143 
Charge for the year
2,479 
5,626 
427 
8,532 
At 31 January 2023
17,021 
66,827 
1,827 
85,675 
Net book value
At 31 January 2023
7,436 
16,881 
1,281 
25,598 
At 31 January 2022
9,915 
22,507 
- 
32,422 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
5,594 
7,459 
5
Inventories
2023 
2022 
£ 
£ 
Raw materials
23,500 
25,000 
Work in progress
35,100 
36,718 
58,600 
61,718 
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ICTS Havant Ltd Notes to the Accounts for the year ended 31 January 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
4,154 
1,561 
Trade debtors
102,853 
153,398 
Accrued income and prepayments
2,670 
- 
Other debtors
- 
12,644 
109,677 
167,603 
Amounts falling due after more than one year
36,139 
29,762 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
20,521 
10,000 
Obligations under finance leases and hire purchase contracts
1,923 
5,120 
Trade creditors
98,599 
147,939 
Taxes and social security
1,349 
171 
Other creditors
5,720 
2,961 
Loans from directors
16,554 
195 
Accruals
7,767 
15,030 
152,433 
181,416 
The obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
24,167 
34,171 
Obligations under finance leases and hire purchase contracts
- 
1,923 
24,167 
36,094 
The obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
115 
1,079 
2023 
2022 
£ 
£ 
Provision at start of year
1,079 
- 
(Credited)/charged to the profit and loss account
(964)
1,079 
Provision at end of year
115 
1,079 
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ICTS Havant Ltd Notes to the Accounts for the year ended 31 January 2023
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
11
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 January 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
22,740 
20,640 
12
Average number of employees
During the year the average number of employees was 6 (2022: 5).
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