IVARSEC LTD
Registered number: 10045706
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,815 4,965
Current assets
Cash at bank and in hand 124,258 116,305
Creditors: amounts falling due within one year 4 (7,086) (9,841)
Net current assets 117,172 106,464
Net assets 119,987 111,429
Capital and reserves
Called up share capital 2 2
Profit and loss account 119,985 111,427
Shareholder's funds 119,987 111,429
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
NOEMI VARGA
Director
Approved by the board on 21 April 2024
IVARSEC LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 5 years
Fixtures, fittings, tools and equipment over 5 years
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2023 8,779 6,615 15,394
At 31 March 2024 8,779 6,615 15,394
Depreciation
At 1 April 2023 5,468 4,961 10,429
Charge for the year 827 1,323 2,150
At 31 March 2024 6,295 6,284 12,579
Net book value
At 31 March 2024 2,484 331 2,815
At 31 March 2023 3,311 1,654 4,965
4 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 2,674 6,151
Other taxes and social security costs - 2,774
Other creditors 4,412 916
7,086 9,841
5 Other information
IVARSEC LTD is a private company limited by shares and incorporated in England. Its registered office is:
144 Oakfield
Woking
Surrey
GU21 3QU
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