Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28false11true14The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2022-03-01No description of principal activity 01537261 2022-03-01 2023-02-28 01537261 2021-03-01 2022-02-28 01537261 2023-02-28 01537261 2022-02-28 01537261 c:Director1 2022-03-01 2023-02-28 01537261 d:Buildings 2022-03-01 2023-02-28 01537261 d:Buildings 2023-02-28 01537261 d:Buildings 2022-02-28 01537261 d:Buildings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01537261 d:PlantMachinery 2022-03-01 2023-02-28 01537261 d:PlantMachinery 2023-02-28 01537261 d:PlantMachinery 2022-02-28 01537261 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01537261 d:MotorVehicles 2022-03-01 2023-02-28 01537261 d:MotorVehicles 2023-02-28 01537261 d:MotorVehicles 2022-02-28 01537261 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01537261 d:OfficeEquipment 2022-03-01 2023-02-28 01537261 d:OfficeEquipment 2023-02-28 01537261 d:OfficeEquipment 2022-02-28 01537261 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01537261 d:ComputerEquipment 2022-03-01 2023-02-28 01537261 d:ComputerEquipment 2023-02-28 01537261 d:ComputerEquipment 2022-02-28 01537261 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01537261 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01537261 d:CurrentFinancialInstruments 2023-02-28 01537261 d:CurrentFinancialInstruments 2022-02-28 01537261 d:Non-currentFinancialInstruments 2023-02-28 01537261 d:Non-currentFinancialInstruments 2022-02-28 01537261 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 01537261 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 01537261 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 01537261 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 01537261 d:ShareCapital 2023-02-28 01537261 d:ShareCapital 2022-02-28 01537261 d:RevaluationReserve 2023-02-28 01537261 d:RevaluationReserve 2022-02-28 01537261 d:RetainedEarningsAccumulatedLosses 2023-02-28 01537261 d:RetainedEarningsAccumulatedLosses 2022-02-28 01537261 c:FRS102 2022-03-01 2023-02-28 01537261 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 01537261 c:FullAccounts 2022-03-01 2023-02-28 01537261 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 01537261 d:HirePurchaseContracts d:WithinOneYear 2023-02-28 01537261 d:HirePurchaseContracts d:WithinOneYear 2022-02-28 01537261 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-02-28 01537261 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-02-28 01537261 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure
Registered number: 01537261









ISCA FORWARDING LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023














 
ISCA FORWARDING LIMITED
REGISTERED NUMBER:01537261

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
  
229,698
203,491

  
229,698
203,491

Current assets
  

Stocks
 5 
6,328
6,328

Debtors: amounts falling due within one year
 6 
329,911
925,448

Cash at bank and in hand
  
239,595
298,026

  
575,834
1,229,802

Creditors: amounts falling due within one year
 7 
(449,361)
(1,057,705)

Net current assets
  
 
 
126,473
 
 
172,097

Total assets less current liabilities
  
356,171
375,588

Creditors: amounts falling due after more than one year
 8 
(23,388)
-

  

Net assets
  
332,783
375,588


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
70,533
70,533

Profit and loss account
  
262,150
304,955

  
332,783
375,588


Page 1

 
ISCA FORWARDING LIMITED
REGISTERED NUMBER:01537261
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2023.




J Evans
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ISCA FORWARDING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Isca Forwarding Limited is a private company, limited by shares, domiciled in England and Wales. The registered office address is Unit 6 Newbery Commercial Centre, Exeter Airport Business Park, Clyst Honiton, Devon, EX5 2UL. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the company is a going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
ISCA FORWARDING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
ISCA FORWARDING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
Nil
Plant and machinery
-
20% Straight Line
Motor vehicles
-
25% Straight Line
Office equipment
-
20% Straight Line
Computer equipment
-
20% Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
ISCA FORWARDING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 14).

Page 6

 
ISCA FORWARDING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 March 2022
199,052
63,441
24,933
23,359
51,964
362,749


Additions
-
1,338
29,250
-
-
30,588



At 28 February 2023

199,052
64,779
54,183
23,359
51,964
393,337



Depreciation


At 1 March 2022
-
59,866
24,933
22,940
51,519
159,258


Charge for the year on owned assets
-
3,769
-
167
445
4,381



At 28 February 2023

-
63,635
24,933
23,107
51,964
163,639



Net book value



At 28 February 2023
199,052
1,144
29,250
252
-
229,698



At 28 February 2022
199,052
3,575
-
419
445
203,491

As permitted by the transactional provision of FRS102, the company has elected not to adopt a policy of revaluation of tangible fixed assets. The company will retain the book value of the land and buildings which were previously revalued on 5 January 2000 by Alder King LLP and will use the revolution as deemed cost.
If the land and buildings had not been included at valuation, they would have been included under the historical cost convention with the cost and net book value being £124,467 (2022- 124,467).


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
6,328
6,328

6,328
6,328


Page 7

 
ISCA FORWARDING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
297,407
899,213

Other debtors
30,073
21,996

Prepayments and accrued income
2,431
4,239

329,911
925,448



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
320,061
814,104

Amounts owed to group undertakings
45,000
45,000

Corporation tax
-
43,038

Other taxation and social security
5,491
4,538

Obligations under finance lease and hire purchase contracts
4,924
-

Other creditors
42,840
40,698

Accruals and deferred income
31,045
110,327

449,361
1,057,705



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
23,388
-

23,388
-


Page 8

 
ISCA FORWARDING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
4,924
-

Between 1-5 years
23,388
-

28,312
-


10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £10,514 (2022 - £9,258). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date. 

 
Page 9