1 March 2022 false No description of principal activity Taxfiler 2023.10 SC654356business:PrivateLimitedCompanyLtd2022-03-012023-02-28 SC6543562022-02-28 SC6543562022-03-012023-02-28 SC654356business:AuditExemptWithAccountantsReport2022-03-012023-02-28 SC654356business:FilletedAccounts2022-03-012023-02-28 SC6543562023-02-28 SC654356business:Director12022-03-012023-02-28 SC654356business:RegisteredOffice2022-03-012023-02-28 SC6543562022-02-28 SC654356core:WithinOneYear2023-02-28 SC654356core:WithinOneYear2022-02-28 SC654356core:AfterOneYear2023-02-28 SC654356core:AfterOneYear2022-02-28 SC654356core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 SC654356core:ShareCapitalcore:PreviouslyStatedAmount2022-02-28 SC654356core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 SC654356core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-02-28 SC654356core:PreviouslyStatedAmount2023-02-28 SC654356core:PreviouslyStatedAmount2022-02-28 SC654356business:SmallEntities2022-03-012023-02-28 SC654356countries:Scotland2022-03-012023-02-28 SC654356core:MotorVehicles2022-02-28 SC654356core:FurnitureFittings2022-02-28 SC654356core:MotorVehicles2022-03-012023-02-28 SC654356core:FurnitureFittings2022-03-012023-02-28 SC654356core:MotorVehicles2023-02-28 SC654356core:FurnitureFittings2023-02-28 SC654356business:Director112022-03-012023-02-28 SC654356business:Director112022-02-28 SC654356business:Director112023-02-28 SC6543562021-03-012022-02-28 iso4217:GBP xbrli:pure
Company Registration No. SC654356 (Scotland)
IGS WORKS LTD Unaudited accounts for the year ended 28 February 2023
IGS WORKS LTD Unaudited accounts Contents
Page
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IGS WORKS LTD Company Information for the year ended 28 February 2023
Director
Chimezie Umeh
Company Number
SC654356 (Scotland)
Registered Office
3 Hollybrook Place Govanhill GLASGOW G42 7HB SCOTLAND
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IGS WORKS LTD Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
26,497 
18,598 
Current assets
Inventories
1,500 
- 
Cash at bank and in hand
2,285 
2,296 
3,785 
2,296 
Creditors: amounts falling due within one year
(11,243)
2,394 
Net current (liabilities)/assets
(7,458)
4,690 
Total assets less current liabilities
19,039 
23,288 
Creditors: amounts falling due after more than one year
(16,423)
(23,407)
Net assets/(liabilities)
2,616 
(119)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
2,516 
(219)
Shareholders' funds
2,616 
(119)
For the year ending 28 February 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 8 November 2023 and were signed on its behalf by
Chimezie Umeh Director Company Registration No. SC654356
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IGS WORKS LTD Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
IGS WORKS LTD is a private company, limited by shares, registered in Scotland, registration number SC654356. The registered office is 3 Hollybrook Place , Govanhill, GLASGOW, G42 7HB, SCOTLAND.
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 as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2022
15,700 
5,088 
20,788 
Additions
- 
9,521 
9,521 
At 28 February 2023
15,700 
14,609 
30,309 
Depreciation
At 1 March 2022
628 
1,562 
2,190 
Charge for the year
904 
718 
1,622 
At 28 February 2023
1,532 
2,280 
3,812 
Net book value
At 28 February 2023
14,168 
12,329 
26,497 
At 28 February 2022
15,072 
3,526 
18,598 
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IGS WORKS LTD Notes to the Accounts for the year ended 28 February 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
1,373 
- 
VAT
2,785 
(2,451)
Trade creditors
5,414 
- 
Taxes and social security
2,874 
55 
Other creditors
337 
- 
Loans from directors
(1,799)
2 
Accruals
259 
- 
11,243 
(2,394)
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
8,195 
12,246 
Obligations under finance leases and hire purchase contracts
8,228 
11,161 
16,423 
23,407 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Chimezie Umeh
Loan repaid
- 
1,799 
1,799 
- 
- 
1,799 
1,799 
- 
8
Average number of employees
During the year the average number of employees was 6 (2022: 1).
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