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REGISTERED NUMBER: 04465829 (England and Wales)















INK CARTRIDGES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






INK CARTRIDGES LTD (REGISTERED NUMBER: 04465829)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


INK CARTRIDGES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr T R Johnson
Mrs R Johnson





SECRETARY: Mr T R Johnson





REGISTERED OFFICE: 10 Newporte Business Park
Bishops Road
Lincoln
Lincolnshire
LN2 4SY





REGISTERED NUMBER: 04465829 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

INK CARTRIDGES LTD (REGISTERED NUMBER: 04465829)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 115,571 122,412
Tangible assets 5 3,517 4,224
119,088 126,636

CURRENT ASSETS
Stocks 215,496 169,252
Debtors 6 233,867 213,439
Cash at bank 80,678 76,559
530,041 459,250
CREDITORS
Amounts falling due within one year 7 404,562 323,258
NET CURRENT ASSETS 125,479 135,992
TOTAL ASSETS LESS CURRENT LIABILITIES 244,567 262,628

CREDITORS
Amounts falling due after more than one year 8 (25,958 ) (35,482 )

PROVISIONS FOR LIABILITIES (668 ) (627 )
NET ASSETS 217,941 226,519

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 217,841 226,419
SHAREHOLDERS' FUNDS 217,941 226,519

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.

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 12 September 2023 and were signed on its behalf by:



Mr T R Johnson - Director


INK CARTRIDGES LTD (REGISTERED NUMBER: 04465829)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Ink Cartridges Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

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.

Other intangible assets are being amortised evenly over theirs estimated useful life of nil years.

Website development costs are being amortised evenly over their estimated useful life of five years.

Website development cost additions are being amortised evenly over their estimated useful life of three years.

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 etc - 33% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and 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 statement of financial position date.


INK CARTRIDGES LTD (REGISTERED NUMBER: 04465829)

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 statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 127,500 121,080 248,580
AMORTISATION
At 1 April 2022 121,500 4,668 126,168
Charge for year 1,500 5,341 6,841
At 31 March 2023 123,000 10,009 133,009
NET BOOK VALUE
At 31 March 2023 4,500 111,071 115,571
At 31 March 2022 6,000 116,412 122,412

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 42,359
Additions 789
At 31 March 2023 43,148
DEPRECIATION
At 1 April 2022 38,135
Charge for year 1,496
At 31 March 2023 39,631
NET BOOK VALUE
At 31 March 2023 3,517
At 31 March 2022 4,224

INK CARTRIDGES LTD (REGISTERED NUMBER: 04465829)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 668 788
Other debtors 233,199 212,651
233,867 213,439

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,778 9,335
Trade creditors 57,446 47,348
Taxation and social security 65,337 85,130
Other creditors 272,001 181,445
404,562 323,258

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 25,958 35,482

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have an overdrawn directors loan accounts totalling £59,631, brought forward (2022: £57,493). During the year, the directors of the company borrowed £2,000 (2022: £11,319) from the company and repaid £2,064 (2022: £10,425). Interest was charged on the overdrawn amount in the year of £1,203 (2022: £1,243). The balance at the end of the year totalled £60,770 (2022: £59,631).