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REGISTERED NUMBER: 07839806 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

INTER CARGO SURVEYORS LIMITED

INTER CARGO SURVEYORS LIMITED (REGISTERED NUMBER: 07839806)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INTER CARGO SURVEYORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Rayik Ibrahim





REGISTERED OFFICE: 260 Halfway Street
Sidcup
Kent
DA15 8DT





REGISTERED NUMBER: 07839806 (England and Wales)





ACCOUNTANTS: Stan Lee Accountancy Ltd
T/A: The Stan Lee
Chartered Certified Accountants
Level 18, 40 Bank Street
Canary Wharf
London
E14 5NR

INTER CARGO SURVEYORS LIMITED (REGISTERED NUMBER: 07839806)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,988 3,178

CURRENT ASSETS
Debtors 5 7,598 23,114
Cash at bank and in hand 488 3,915
8,086 27,029
CREDITORS
Amounts falling due within one year 6 64,213 22,855
NET CURRENT (LIABILITIES)/ASSETS (56,127 ) 4,174
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,861

7,352

CREDITORS
Amounts falling due after more than
one year

7

46,132

7,000
NET (LIABILITIES)/ASSETS (41,271 ) 352

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (41,371 ) 252
SHAREHOLDERS' FUNDS (41,271 ) 352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

INTER CARGO SURVEYORS LIMITED (REGISTERED NUMBER: 07839806)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 19 August 2024 and were signed by:





Rayik Ibrahim - Director


INTER CARGO SURVEYORS LIMITED (REGISTERED NUMBER: 07839806)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Inter Cargo Surveyors 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax. When the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes in effect a financing transaction, the fair value of the consideration is measured as the present value of all future receipts determined using an imputed rate of interest, normally the rate that discounts the nominal amount of consideration to the cash sales price.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company’s principal activities.

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 - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


INTER CARGO SURVEYORS LIMITED (REGISTERED NUMBER: 07839806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
No material uncertainties related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern have been indentified by the director.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

INTER CARGO SURVEYORS LIMITED (REGISTERED NUMBER: 07839806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 - - 9,689 9,689
Additions 226 62,205 3,081 65,512
At 31 March 2024 226 62,205 12,770 75,201
DEPRECIATION
At 1 April 2023 - - 6,511 6,511
Charge for year 20 6,998 684 7,702
At 31 March 2024 20 6,998 7,195 14,213
NET BOOK VALUE
At 31 March 2024 206 55,207 5,575 60,988
At 31 March 2023 - - 3,178 3,178

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,071 18,734
CT under S455 3,946 3,946
VAT 581 434
7,598 23,114

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 9,958 3,000
Hire purchase contracts 6,620 -
Trade creditors - 1,926
Tax 8,204 15,134
Social security and other taxes 45 45
Other creditors 6,162 2,644
Directors' current accounts 33,224 106
64,213 22,855

INTER CARGO SURVEYORS LIMITED (REGISTERED NUMBER: 07839806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 4,000 7,000
Hire purchase contracts 42,132 -
46,132 7,000

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 6,958 -
Bank loans - BBL 3,000 3,000
9,958 3,000

Amounts falling due between two and five years:
Bounce Back Loan 4,000 7,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2023 252
Deficit for the year (41,623 )
At 31 March 2024 (41,371 )

INTER CARGO SURVEYORS LIMITED (REGISTERED NUMBER: 07839806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the current and previous financial years, the Company was under the control of its director, Mr. R Ibrahim and his family, by the virtue of their ownership of the entire issued share capital of the Company.

At the balance sheet date, the company owed its director £33,224 (2023 : £106). The loan carries no interest and is repayable in full at short notice on demand.

During the financial year, the company paid the dividends of £nil (2023 : £27,000) to its shareholders.