Company Registration No. 04081027 (England and Wales)
Intensive Car Unit Limited
Unaudited accounts
for the year ended 30 August 2023
Intensive Car Unit Limited
Statement of financial position
as at 30 August 2023
Tangible assets
146,544
89,154
Cash at bank and in hand
478,980
50,534
Creditors: amounts falling due within one year
(533,859)
(317,279)
Net current assets
132,293
149,160
Total assets less current liabilities
278,837
238,314
Creditors: amounts falling due after more than one year
(129,167)
(312,883)
Provisions for liabilities
Deferred tax
(19,990)
(16,900)
Net assets/(liabilities)
129,680
(91,469)
Called up share capital
2
2
Profit and loss account
129,678
(91,471)
Shareholders' funds
129,680
(91,469)
For the year ending 30 August 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 17 November 2023 and were signed on its behalf by
R Hargun
Director
Company Registration No. 04081027
Intensive Car Unit Limited
Notes to the Accounts
for the year ended 30 August 2023
Intensive Car Unit Limited is a private company, limited by shares, registered in England and Wales, registration number 04081027. The registered office is 57-69 West Road, Westcliff on Sea, Essex, SS0 9AY.
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:
Plant & machinery
18% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
20% Straight line and 17.5% Reducing balance
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 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.
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.
Stocks 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/completion.
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.
Intensive Car Unit Limited
Notes to the Accounts
for the year ended 30 August 2023
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 31 August 2022
84,679
170,299
150,452
405,430
Additions
28,278
70,833
-
99,111
At 30 August 2023
112,957
241,132
150,452
504,541
At 31 August 2022
69,141
133,073
114,062
316,276
Charge for the year
7,887
27,015
6,819
41,721
At 30 August 2023
77,028
160,088
120,881
357,997
At 30 August 2023
35,929
81,044
29,571
146,544
At 30 August 2022
15,538
37,226
36,390
89,154
Amounts falling due within one year
Trade debtors
186,592
361,380
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
50,000
51,706
Obligations under finance leases and hire purchase contracts
59,186
-
Trade creditors
68,341
29,316
Taxes and social security
79,747
29,641
Other creditors
3,417
11,974
Loans from directors
107,045
51,444
Intensive Car Unit Limited
Notes to the Accounts
for the year ended 30 August 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
129,167
312,883
8
Deferred taxation
2023
2022
Accelerated capital allowances
19,990
16,900
Provision at start of year
16,900
16,900
Charged to the profit and loss account
3,090
-
Provision at end of year
19,990
16,900
9
Average number of employees
During the year the average number of employees was 9 (2022: 9).