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Registered Number: 11603140
England and Wales

 

 

 

I C TRAVEL LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Director Mr I C McClure
Registered Number 11603140
Registered Office 16 Pinfold Close
Cockermouth
Cumbria
CA13 9JW
Accountants Shaun Brown Accountants Ltd
14A Hartness Road
Gilwilly Industrial Estate
Penrith
Cumbria
CA11 9BD
1
  2023   2022
    £ £   £ £
Fixed assets   11,412      14,251 
Current assets 2,925      2,703   
Creditors: amount falling due within one year (7,776)     (14,622)  
Net current assets   (4,851)     (11,919)
Total assets less current liabilities   6,561      2,332 
Creditors: amount falling due after more than one year   (16,724)     (19,406)
Net assets   (10,163)     (17,074)
 

         
Capital and reserves   (10,163)     (17,074)
 
NOTES TO THE ACCOUNTS

General Information
I C Travel Limited is a private company, limited by shares, registered in England and Wales, registration number 11603140, registration address 16 Pinfold Close, Cockermouth, Cumbria, CA13 9JW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Reducing Balance
Computer Equipment 15% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 November 2022 34,241    433    34,674 
Additions    
Disposals    
At 31 October 2023 34,241    433    34,674 
Depreciation
At 01 November 2022 20,216    207    20,423 
Charge for year 2,805    34    2,839 
On disposals    
At 31 October 2023 23,021    241    23,262 
Net book values
Closing balance as at 31 October 2023 11,220    192    11,412 
Opening balance as at 01 November 2022 14,025    226    14,251 


3.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 29 July 2024 and were signed by:


--------------------------------
Mr I C McClure
Director
2