Company Registration No. SC654356 (Scotland)
IGS WORKS LTD
Unaudited accounts
for the year ended 28 February 2023
IGS WORKS LTD
Unaudited accounts
Contents
IGS WORKS LTD
Company Information
for the year ended 28 February 2023
Company Number
SC654356 (Scotland)
Registered Office
3 Hollybrook Place
Govanhill
GLASGOW
G42 7HB
SCOTLAND
IGS WORKS LTD
Statement of financial position
as at 28 February 2023
Tangible assets
26,497
18,598
Cash at bank and in hand
2,285
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)
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
IGS WORKS LTD
Notes to the Accounts
for the year ended 28 February 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
At 28 February 2023
15,700
14,609
30,309
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
At 28 February 2023
14,168
12,329
26,497
At 28 February 2022
15,072
3,526
18,598
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
-
Taxes and social security
2,874
55
Loans from directors
(1,799)
2
6
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
8,228
11,161
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan repaid
-
1,799
1,799
-
8
Average number of employees
During the year the average number of employees was 6 (2022: 1).