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REGISTERED NUMBER: 07873711 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

INTERNATIONAL TAX SEARCH LIMITED

INTERNATIONAL TAX SEARCH LIMITED (REGISTERED NUMBER: 07873711)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


INTERNATIONAL TAX SEARCH LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTOR: Mr S B Yusuff





REGISTERED OFFICE: The Docklands Business Centre
10-16 Tiller Road
London
London
E14 8PX





REGISTERED NUMBER: 07873711 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

INTERNATIONAL TAX SEARCH LIMITED (REGISTERED NUMBER: 07873711)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,931 881

CURRENT ASSETS
Debtors - 141,383
Cash at bank 259,089 226,422
259,089 367,805
CREDITORS
Amounts falling due within one year 243,468 297,249
NET CURRENT ASSETS 15,621 70,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,552

71,437

CREDITORS
Amounts falling due after more than one year 21,668 31,668
NET (LIABILITIES)/ASSETS (116 ) 39,769

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (117 ) 39,768
SHAREHOLDERS' FUNDS (116 ) 39,769

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

INTERNATIONAL TAX SEARCH LIMITED (REGISTERED NUMBER: 07873711)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 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 Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

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





Mr S B Yusuff - Director


INTERNATIONAL TAX SEARCH LIMITED (REGISTERED NUMBER: 07873711)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

International Tax Search 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.

The accounts have been prepared on the going concern basis as the director is of the opinion that the company will meet its liabilities as and when due, due to the continued support of the director.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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

INTERNATIONAL TAX SEARCH LIMITED (REGISTERED NUMBER: 07873711)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit & loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 2,153
Additions 7,028
At 31 March 2023 9,181
DEPRECIATION
At 1 April 2022 1,272
Charge for year 1,978
At 31 March 2023 3,250
NET BOOK VALUE
At 31 March 2023 5,931
At 31 March 2022 881

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 34,337 73,263

Bank loan is secured against the asset held by the company and bank overdraft is secured with directors personal guarantee.

INTERNATIONAL TAX SEARCH LIMITED (REGISTERED NUMBER: 07873711)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr S B Yusuff
Balance outstanding at start of year 106,704 185,208
Amounts repaid (106,704 ) (78,504 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 106,704

7. ILLEGAL DIVIDEND

During the accounting period a dividend was paid in contravention to section 830 of the Companies Act 2006. When the distribution was made, the company was unaware that profits were not available for this purpose. The company undertakes to make no further distributions until the deficit is covered.