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Inner-City Contracts Ltd

Registered Number
07871436
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Inner-City Contracts Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

DAJOU, Armando Enrico

Registered Address

Suite 5 Adelaide Court
15-16 Adelaide Crescent
Hove
BN3 2JF

Registered Number

07871436 (England and Wales)
Inner-City Contracts Ltd
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets41,0871,147
1,0871,147
Current assets
Debtors1,7601,388
Cash at bank and on hand2,0994,466
3,8595,854
Creditors amounts falling due within one year5(15,068)(18,318)
Net current assets (liabilities)(11,209)(12,464)
Total assets less current liabilities(10,122)(11,317)
Creditors amounts falling due after one year6(7,449)(8,694)
Net assets(17,571)(20,011)
Capital and reserves
Called up share capital22
Profit and loss account(17,573)(20,013)
Shareholders' funds(17,571)(20,011)
The financial statements were approved and authorised for issue by the Director on 26 July 2024, and are signed on its behalf by:
DAJOU, Armando Enrico
Director
Registered Company No. 07871436
Inner-City Contracts Ltd
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Going concern
These financial statements have been prepared on the basis that the company will continue to be a going concern.At the year end the current liabilities exceeded current assets by £11,209. The validity of this basis depends upon the continued support of the company's directors. The directors confirm that they will give the required support.
Turnover policy
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Office Equipment25
2.Average number of employees

20232022
Average number of employees during the year33
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 236,5006,500
At 31 December 236,5006,500
Amortisation and impairment
At 01 January 236,5006,500
At 31 December 236,5006,500
Net book value
At 31 December 23--
At 31 December 22--
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 January 232,9462,6475,593
Additions231-231
At 31 December 233,1772,6475,824
Depreciation and impairment
At 01 January 232,3392,1074,446
Charge for year156135291
At 31 December 232,4952,2424,737
Net book value
At 31 December 236824051,087
At 31 December 226075401,147
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables5564
Taxation and social security14,51214,579
Other creditors-3,735
Total15,06818,318
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts7,4498,694
Total7,4498,694
7.Related party transactions
The company has taken advantage of the exemption under FRS 102 1AC.35 whereby particulars need not be given for related party transactions concluded under normal market conditions, or transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transactions is wholly-owned by such a member.