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REGISTERED NUMBER: 02010739 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st March 2023

for

I.C.S. (Northern) Limited

I.C.S. (Northern) Limited (Registered number: 02010739)






Contents of the Financial Statements
for the year ended 31st March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

I.C.S. (Northern) Limited

Company Information
for the year ended 31st March 2023







DIRECTOR: S Bhamji



REGISTERED OFFICE: Queens Mill
Mill Street East
Dewsbury
West Yorkshire
WF12 9AW



REGISTERED NUMBER: 02010739 (England and Wales)



ACCOUNTANTS: Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: Santander UK plc
6-8 King Edward Street
Hull
East Yorkshire
HU1 3SS

I.C.S. (Northern) Limited (Registered number: 02010739)

Abridged Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 305,739 177,528

CURRENT ASSETS
Stocks 1,083,651 704,470
Debtors 1,314,144 483,083
Cash at bank and in hand 1,168,162 2,258,062
3,565,957 3,445,615
CREDITORS
Amounts falling due within one year 1,741,337 1,806,881
NET CURRENT ASSETS 1,824,620 1,638,734
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,130,359

1,816,262

CREDITORS
Amounts falling due after more than one
year

103,696

-
NET ASSETS 2,026,663 1,816,262

CAPITAL AND RESERVES
Called up share capital 5 1,000 1,000
Retained earnings 2,025,663 1,815,262
SHAREHOLDERS' FUNDS 2,026,663 1,816,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

I.C.S. (Northern) Limited (Registered number: 02010739)

Abridged Balance Sheet - continued
31st March 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 15th April 2024 and were signed by:





S Bhamji - Director


I.C.S. (Northern) Limited (Registered number: 02010739)

Notes to the Financial Statements
for the year ended 31st March 2023

1. STATUTORY INFORMATION

I.C.S. (Northern) Limited 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 represents net invoiced sales of goods excluding value added tax.

The daily cash and carry sales are totalled at the end of each day and then the sale is recognised after the cash and carry closes.

All sales that are delivered direct to customers sales are recorded and recognised once the goods have been dispatched to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The stock cost price is the current purchase price that goods are being supplied at.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

I.C.S. (Northern) Limited (Registered number: 02010739)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2022 290,199
Additions 188,929
At 31st March 2023 479,128
DEPRECIATION
At 1st April 2022 112,671
Charge for year 60,718
At 31st March 2023 173,389
NET BOOK VALUE
At 31st March 2023 305,739
At 31st March 2022 177,528

The net book value of tangible fixed assets includes £ 127,506 in respect of assets held under hire purchase contracts.

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

6. ULTIMATE CONTROLLING PARTY

The ultimate parent company is I.C.S (Northern) Holdings Limited, a company registered in England and Wales (Reg. No. 13760074), by virtue of it acquiring the whole of the issued share capital of the company on 26th November 2021.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
I.C.S. (Northern) Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of I.C.S. (Northern) Limited for the year ended 31st March 2023 which comprise the Statement of Comprehensive Income, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of I.C.S. (Northern) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of I.C.S. (Northern) Limited and state those matters that we have agreed to state to the director of I.C.S. (Northern) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than I.C.S. (Northern) Limited and its director for our work or for this report.

It is your duty to ensure that I.C.S. (Northern) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of I.C.S. (Northern) Limited. You consider that I.C.S. (Northern) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of I.C.S. (Northern) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX


15th April 2024