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REGISTERED NUMBER: 06466686 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Ingospec Company Limited

Ingospec Company Limited (Registered number: 06466686)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ingospec Company Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A C Jones
C Jones





SECRETARY: Mrs R Jones





REGISTERED OFFICE: Unit 16 Btc Trading Estate
Anchor Road
Coseley
Wolverhampton
West Midlands
WV14 9NA





REGISTERED NUMBER: 06466686 (England and Wales)





ACCOUNTANTS: Crudgington Business Services Limited
50 Cowley Drive
Dudley
West Midlands
DY1 2SS

Ingospec Company Limited (Registered number: 06466686)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 65,601 71,481
65,601 71,481

CURRENT ASSETS
Stocks 130,015 94,333
Debtors 6 1,413,805 1,942,617
Cash at bank 100,119 73,518
1,643,939 2,110,468
CREDITORS
Amounts falling due within one year 7 1,178,139 1,554,751
NET CURRENT ASSETS 465,800 555,717
TOTAL ASSETS LESS CURRENT
LIABILITIES

531,401

627,198

CREDITORS
Amounts falling due after more than one
year

8

(21,667

)

(31,667

)

PROVISIONS FOR LIABILITIES 9 (11,681 ) (12,626 )
NET ASSETS 498,053 582,905

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 498,051 582,903
SHAREHOLDERS' FUNDS 498,053 582,905

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Ingospec Company Limited (Registered number: 06466686)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





A C Jones - Director


Ingospec Company Limited (Registered number: 06466686)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Ingospec Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Ingospec Company Limited (Registered number: 06466686)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 147,000
AMORTISATION
At 1 April 2022
and 31 March 2023 147,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Ingospec Company Limited (Registered number: 06466686)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 235,435 85 79,484 1,980 316,984
Additions - - 15,995 - 15,995
At 31 March 2023 235,435 85 95,479 1,980 332,979
DEPRECIATION
At 1 April 2022 179,470 85 64,265 1,683 245,503
Charge for year 13,996 - 7,804 75 21,875
At 31 March 2023 193,466 85 72,069 1,758 267,378
NET BOOK VALUE
At 31 March 2023 41,969 - 23,410 222 65,601
At 31 March 2022 55,965 - 15,219 297 71,481

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,370,485 1,914,394
Other debtors 43,320 28,223
1,413,805 1,942,617

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 26,493 10,000
Trade creditors 1,121,996 1,490,753
Taxation and social security 8,704 39,201
Other creditors 20,946 14,797
1,178,139 1,554,751

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 21,667 31,667

9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 11,681 12,626

Ingospec Company Limited (Registered number: 06466686)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 12,626
Provided during year (945 )
Balance at 31 March 2023 11,681

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1 Ordinary £1 1 1
1 Ordinary 'B' Non-Voting £1 1 1
2 2

11. ULTIMATE CONTROLLING PARTY

The company is under the control of its director Mr A C Jones as he owns all of the issued share capital.