Company Registration No. 11860150 (England and Wales)
International Composite Solutions Ltd
Unaudited accounts
for the year ended 29 February 2024
International Composite Solutions Ltd
Unaudited accounts
Contents
International Composite Solutions Ltd
Company Information
for the year ended 29 February 2024
Company Number
11860150 (England and Wales)
Registered Office
7 Ffordd Dewi
Llandudno
Conwy
LL30 1EL
United Kingdom
Accountants
Bisby Accountancy Ltd
The Cottage
23 Llandudno Road
Penrhyn Bay
Llandudno
Conwy
LL30 3EP
International Composite Solutions Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
1,997
1,839
Cash at bank and in hand
22,413
34,012
Creditors: amounts falling due within one year
4,919
(13,689)
Net current assets
32,332
20,323
Called up share capital
100
100
Profit and loss account
34,229
22,062
Shareholders' funds
34,329
22,162
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 May 2024 and were signed on its behalf by
Mr D L Evans
Director
Company Registration No. 11860150
International Composite Solutions Ltd
Notes to the Accounts
for the year ended 29 February 2024
International Composite Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 11860150. The registered office is 7 Ffordd Dewi, Llandudno, Conwy, LL30 1EL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Computer equipment
33% Reducing balance
The director has reviewed the company?s financial position and have considered the potential implications of the Coronavirus (COVID-19) pandemic. Whilst the eventual financial impact of the pandemic on the company, and on the overall economy, remains uncertain, the director is confident that the company will be able to remain operational throughout the pandemic.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2023
3,394
1,529
4,923
At 29 February 2024
3,394
2,528
5,922
At 1 March 2023
2,204
880
3,084
Charge for the year
297
544
841
At 29 February 2024
2,501
1,424
3,925
At 29 February 2024
893
1,104
1,997
At 28 February 2023
1,190
649
1,839
International Composite Solutions Ltd
Notes to the Accounts
for the year ended 29 February 2024
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,333
9,033
Taxes and social security
11,943
8,597
Loans from directors
(23,975)
(4,691)
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Average number of employees
During the year the average number of employees was 1 (2023: 1).