ICASHCARS LTD

Company Registration Number:
11063712 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2023

Period of accounts

Start date: 01 December 2022

End date: 30 November 2023

ICASHCARS LTD

Contents of the Financial Statements

for the Period Ended 30 November 2023

Company Information - 3
Profit and Loss Account - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 10

ICASHCARS LTD

Company Information

for the Period Ended 30 November 2023




Registered office: Unit 1
Pinecopse
Nine Mile Ride
Wokingham
Berkshire
England
RG40 3ND
Company Registration Number: 11063712 (England and Wales)

ICASHCARS LTD

Profit and Loss Account

for the Period Ended 30 November 2023


Notes

2023
£

2022
£
Gross Profit or (Loss) 516,297 597,777
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 0 ) ( 0 )
Administrative Expenses ( 542,849 ) ( 716,002 )
Operating Profit or (Loss) ( 26,552 ) ( 118,225 )
Interest Receivable and Similar Income 1,118 0
Interest Payable and Similar Charges ( 0 ) ( 26 )
Profit or (Loss) Before Tax ( 25,434 ) ( 118,251 )
Tax on Profit ( 0 ) ( 0 )
Profit or (Loss) for Period ( 25,434 ) ( 118,251 )

The notes form part of these financial statements

ICASHCARS LTD

Balance sheet

As at 30 November 2023


Notes

2023
£

2022
£
Fixed assets
Intangible assets: 4 3,100 3,100
Tangible assets: 5 5,786 10,436
Total fixed assets: 8,886 13,536
Current assets
Stocks: 13,200 36,480
Debtors: 6 300 14,400
Cash at bank and in hand: 0 20,737
Total current assets: 13,500 71,617
Creditors: amounts falling due within one year: 7 ( 217,272 ) ( 254,918 )
Net current assets (liabilities): ( 203,772 ) ( 183,301 )
Total assets less current liabilities: ( 194,886 ) ( 169,765 )
Creditors: amounts falling due after more than one year: ( 313 )
Total net assets (liabilities): ( 195,199 ) ( 169,765 )

The notes form part of these financial statements

ICASHCARS LTD

Balance sheet continued

As at 30 November 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: ( 195,299 ) ( 169,865 )
Shareholders funds: ( 195,199 ) ( 169,765 )

For the year ending 30 November 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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 14 March 2024
And Signed On Behalf Of The Board By:

Name: Gemma Quinn
Status: Director

The notes form part of these financial statements

ICASHCARS LTD

Notes to the Financial Statements

for the Period Ended 30 November 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

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

    Leads Income:
    Apart from Normal Car buying and Selling trading activity, ICC also sells car Leads to General Car Traders at a Nominal price, V AT
    at 20 % is chargeable on sale of leads and reported to HMRC in the respected Quarterly returns.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
    Depreciation is provided at rates calculated to write off the fixed assets, less their estimated residual value, over their expected useful
    lives on the following bases:
    Motor Vehicle 25% on Straight Line Method
    Computer Equipment 20% on Straight Line Method
    Furniture and Fixtures 20% on Straight Line Method

ICASHCARS LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 4 4

ICASHCARS LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 3. Off balance sheet disclosure

    No

ICASHCARS LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 4. Intangible assets

    Total
    Cost £
    At 01 December 2022 3,100
    Additions 0
    Disposals (0)
    Revaluations 0
    Transfers 0
    At 30 November 2023 3,100
    Amortisation
    Charge for year -
    On disposals -
    Other adjustments -
    Amortisation at 30 November 2023 -
    Net book value
    Net book value at 30 November 2023 3,100
    Net book value at 30 November 2022 3,100

ICASHCARS LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Tangible Assets

Total
Cost £
At 01 December 2022 25,000
Additions 598
Disposals (0)
Revaluations 0
Transfers 0
At 30 November 2023 25,598
Depreciation
At 01 December 2022 14,564
Charge for year 5,248
On disposals (0)
Other adjustments 0
At 30 November 2023 19,812
Net book value
At 30 November 2023 5,786
At 30 November 2022 10,436

ICASHCARS LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 6. Debtors


    2023
    £

    2022
    £
    Debtors due after more than one year: 0 0

ICASHCARS LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

7. Creditors: amounts falling due within one year note

Creditors as of 30th November, 2023
Due within one year:
1) Trade Creditors: £18,287 (£2421)
2) Accrued Expenses: £3,210 (£7036)
3) Director's Loan Account: £187,817 (£181,754)
4) Corporation tax Payable/(Receivable): £-6,275 (-£8,714)
Due after more than one year: N/A