IB CARS & VALETING LTD

Company Registration Number:
10091011 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 01 March 2022

End date: 28 February 2023

IB CARS & VALETING LTD

Contents of the Financial Statements

for the Period Ended 28 February 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

IB CARS & VALETING LTD

Company Information

for the Period Ended 28 February 2023




Director: Isa Kaciu
Registered office: I&B Cars Ltd
Queens Road
Newark
England
NG24 1HB
Company Registration Number: 10091011 (England and Wales)

IB CARS & VALETING LTD

Directors' Report Period Ended 28 February 2023

The directors present their report with the financial statements of the company for the period ended 28 February 2023

Principal Activities

Company's principal activity during this period was car valeting and sale of used cars.

Directors

The directors shown below have held office during the whole of the period from 01 March 2022 to 28 February 2023
Isa Kaciu

This report was approved by the board of directors on 8 February 2024
And Signed On Behalf Of The Board By:

Name: Isa Kaciu
Status: Director

IB CARS & VALETING LTD

Profit and Loss Account

for the Period Ended 28 February 2023


Notes

2023
£

2022
£
Turnover 455,706 708,426
Cost of sales ( 247,184 ) ( 490,106 )
Gross Profit or (Loss) 208,522 218,320
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 0 ) ( 0 )
Administrative Expenses ( 155,445 ) ( 174,731 )
Other operating income 0 11,371
Operating Profit or (Loss) 53,077 54,960
Interest Receivable and Similar Income 0 0
Interest Payable and Similar Charges ( 0 ) ( 0 )
Profit or (Loss) Before Tax 53,077 54,960
Tax on Profit ( 10,085 ) ( 10,442 )
Profit or (Loss) for Period 42,992 44,518

The notes form part of these financial statements

IB CARS & VALETING LTD

Balance sheet

As at 28 February 2023


Notes

2023
£

2022
£
Fixed assets
Intangible assets: 4 0 0
Tangible assets: 5 179,460 182,506
Total fixed assets: 179,460 182,506
Current assets
Stocks: 0 0
Debtors: 6 0 0
Cash at bank and in hand: 1,350 10,746
Total current assets: 1,350 10,746
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 7 ( 30,393 ) ( 26,655 )
Net current assets (liabilities): ( 29,043 ) ( 15,909 )
Total assets less current liabilities: 150,417 166,597
Creditors: amounts falling due after more than one year: 8 ( 107,425 ) ( 122,079 )
Provision for liabilities: ( 0 ) ( 0 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): 42,992 44,518

The notes form part of these financial statements

IB CARS & VALETING LTD

Balance sheet continued

As at 28 February 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 1 1
Revaluation reserve: 9 0 0
Profit and loss account: 42,991 44,517
Shareholders funds: 42,992 44,518

For the year ending 28 February 2023 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 8 February 2024
And Signed On Behalf Of The Board By:

Name: Isa Kaciu
Status: Director

The notes form part of these financial statements

IB CARS & VALETING LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

IB CARS & VALETING LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 7 7

IB CARS & VALETING LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 3. Off balance sheet disclosure

    No

IB CARS & VALETING LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Intangible assets

Other Total
Cost £ £
At 01 March 2022 0 0
Additions 0 0
Disposals ( 0 ) ( 0 )
Revaluations 0 0
Transfers 0 0
At 28 February 2023 0 0
Amortisation
Amortisation at 01 March 2022 0 0
Charge for year 0 0
On disposals ( 0 ) ( 0 )
Other adjustments 0 0
Amortisation at 28 February 2023 0 0
Net book value
Net book value at 28 February 2023 0 0
Net book value at 28 February 2022 0 0

IB CARS & VALETING LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Total
Cost £ £ £ £ £
At 01 March 2022 160,775 3,734 - 182,506 347,015
Additions 0 5,560 9,072 1,559 16,191
Disposals ( 0 ) ( 1,240 ) ( 0 ) ( 182,506 ) ( 183,746 )
Revaluations 160,775 8,054 9,072 1,559 179,460
Transfers 0 0 0 0 0
At 28 February 2023 321,550 16,108 18,144 3,118 358,920
Depreciation
At 01 March 2022 160,775 3,734 0 0 164,509
Charge for year 0 0 0 0 0
On disposals ( 0 ) ( 0 ) ( 0 ) ( 0 ) ( 0 )
Other adjustments 0 4,320 9,072 1,559 14,951
At 28 February 2023 160,775 8,054 9,072 1,559 179,460
Net book value
At 28 February 2023 160,775 8,054 9,072 1,559 179,460
At 28 February 2022 0 0 0 182,506 182,506

IB CARS & VALETING LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

6. Debtors


2023
£

2022
£
Trade debtors 0 0
Prepayments and accrued income 0 0
Other debtors 0 0
Total 0 0
Debtors due after more than one year: 0 0

IB CARS & VALETING LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

7.Creditors: amounts falling due within one year note


2023
£

2022
£
Bank loans and overdrafts 19,200 26,655
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 11,193 0
Accruals and deferred income 0 0
Other creditors 0 0
Total 30,393 26,655

IB CARS & VALETING LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

8.Creditors: amounts falling due after more than one year


2023
£

2022
£
Bank loans and overdrafts 107,425 122,079
Total 107,425 122,079

IB CARS & VALETING LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

9. Revaluation reserve


2023
£
Balance at 01 March 2022 0
Surplus or deficit after revaluation 0
Balance at 28 February 2023 0