Acorah Software Products - Accounts Production 14.5.601 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 08250926 I Saunders G Waymark J Saunders iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08250926 2022-10-31 08250926 2023-10-31 08250926 2022-11-01 2023-10-31 08250926 frs-core:CurrentFinancialInstruments 2023-10-31 08250926 frs-core:Non-currentFinancialInstruments 2023-10-31 08250926 frs-core:ComputerEquipment 2023-10-31 08250926 frs-core:ComputerEquipment 2022-11-01 2023-10-31 08250926 frs-core:ComputerEquipment 2022-10-31 08250926 frs-core:PlantMachinery 2023-10-31 08250926 frs-core:PlantMachinery 2022-11-01 2023-10-31 08250926 frs-core:PlantMachinery 2022-10-31 08250926 frs-core:ShareCapital 2023-10-31 08250926 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 08250926 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08250926 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 08250926 frs-bus:SmallEntities 2022-11-01 2023-10-31 08250926 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08250926 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 08250926 frs-bus:Director1 2022-11-01 2023-10-31 08250926 frs-bus:Director2 2022-11-01 2023-10-31 08250926 frs-bus:Director3 2022-11-01 2023-10-31 08250926 frs-countries:EnglandWales 2022-11-01 2023-10-31 08250926 2021-10-31 08250926 2022-10-31 08250926 2021-11-01 2022-10-31 08250926 frs-core:CurrentFinancialInstruments 2022-10-31 08250926 frs-core:Non-currentFinancialInstruments 2022-10-31 08250926 frs-core:ShareCapital 2022-10-31 08250926 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 08250926
IGS Logistics Ltd
Financial Statements
For The Year Ended 31 October 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08250926
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,213 4,285
3,213 4,285
CURRENT ASSETS
Debtors 5 65,222 60,645
Cash at bank and in hand 51,044 73,768
116,266 134,413
Creditors: Amounts Falling Due Within One Year 6 (83,563 ) (89,482 )
NET CURRENT ASSETS (LIABILITIES) 32,703 44,931
TOTAL ASSETS LESS CURRENT LIABILITIES 35,916 49,216
Creditors: Amounts Falling Due After More Than One Year 7 (16,666 ) (26,666 )
NET ASSETS 19,250 22,550
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 19,150 22,450
SHAREHOLDERS' FUNDS 19,250 22,550
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
I Saunders
Director
G Waymark
Director
11 April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
IGS Logistics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08250926 . The registered office is Marine House, 151 Western Road, Haywards Heath, West Sussex, RH16 3LH. The trading address is Unit 6 St Helena Farm, St Helena Lane, Plumpton Green, East Sussex BN7 3DH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
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 cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
Page 3
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 19,474 6,206 25,680
As at 31 October 2023 19,474 6,206 25,680
Depreciation
As at 1 November 2022 16,319 5,076 21,395
Provided during the period 789 283 1,072
As at 31 October 2023 17,108 5,359 22,467
Net Book Value
As at 31 October 2023 2,366 847 3,213
As at 1 November 2022 3,155 1,130 4,285
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 65,222 60,645
65,222 60,645
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 39,853 43,012
Bank loans and overdrafts 10,000 10,000
Other creditors 19,906 18,738
Taxation and social security 13,804 17,732
83,563 89,482
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 16,666 26,666
16,666 26,666
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