for the Period Ended 30 November 2022
Company Information - 3 | |
Report of the Directors - 4 | |
Profit and Loss Account - 5 | |
Balance sheet - 6 | |
Additional notes - 8 | |
Balance sheet notes - 11 |
for the Period Ended 30 November 2022
Director: |
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Registered office: |
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Company Registration Number: |
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The directors present their report with the financial statements of the company for the period ended 30 November 2022
Principal Activities
Directors
The directors shown below have held office during the whole of the period from 01 December 2021 to 30 November 2022
This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
for the Period Ended 30 November 2022
Notes |
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2021 £ |
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Gross Profit or (Loss) |
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Administrative Expenses |
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Operating Profit or (Loss) |
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Interest Payable and Similar Charges | - |
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Profit or (Loss) Before Tax |
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Tax on Profit | - |
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Profit or (Loss) for Period |
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The notes form part of these financial statements
As at
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2021 £ |
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Fixed assets | |||
Intangible assets: | 4 |
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Tangible assets: | 5 |
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Total fixed assets: |
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Current assets | |||
Stocks: |
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Debtors: | 6 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 7 |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Total net assets (liabilities): |
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The notes form part of these financial statements
As at 30 November 2022
Notes |
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2021 £ |
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Capital and reserves | |||
Called up share capital: |
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Profit and loss account: |
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Shareholders funds: |
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This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 November 2022
Basis of measurement and preparation
Turnover policy
Leads Income:
Apart from Normal Car buying and Selling trading activity, ICC also sells car Leads to General Car Traders at a Nominal price, VAT at 20 % is chargeable on sale of leads and reported to HMRC in the respected Quarterly returns.
Tangible fixed assets depreciation policy
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
for the Period Ended 30 November 2022
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2021 |
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Average number of employees during the period |
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for the Period Ended 30 November 2022
for the Period Ended 30 November 2022
Total | |
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Cost | £ |
At 01 December 2021 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 November 2022 |
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Amortisation | |
Charge for year |
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On disposals |
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Other adjustments |
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Amortisation at 30 November 2022 |
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Net book value | |
Net book value at 30 November 2022 |
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Net book value at 30 November 2021 |
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for the Period Ended 30 November 2022
Total | |
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Cost | £ |
At 01 December 2021 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 November 2022 |
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Depreciation | |
At 01 December 2021 |
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Charge for year |
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On disposals |
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Other adjustments |
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At 30 November 2022 |
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Net book value | |
At 30 November 2022 |
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At 30 November 2021 |
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for the Period Ended 30 November 2022
Stocks of vehicles which are the property of the company are valued at lower of cost or net realisable value, after making due allowance for obsolete and slow-moving items.
Stock as of 30th November, 2022 Valued at: £36,480 (£78,580 as of 30th November, 2021).
Debtors:
Due within one year - Trade Debtors: £14,400 (£93,350 as of 30th November, 2021)
for the Period Ended 30 November 2022
Due within one year:
1) Trade Creditors: £2,421 (£26,850 as of 30th November, 2021)
2) Accrued Expenses: £7,036 (£2,089 as of 30th November, 2021))
3) VAT £68,692 (£109,888 as of 30th November, 2021)
4) PAYE & NIC Payable: £3,730 (£5,672 as of 30th November, 2021)
5) Director's Loan Account: £181,754 (£129,933 as of 30th November, 2021)
6) Short Term Borrowings: £0 (£25,000 as of 30th November, 2021)
7) Corporation tax Payable/(Receivable): £-8,714 (-£8,714 as of 30th November, 2021)
Due after more than one year: N/A