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REGISTERED NUMBER: 04630251 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

INVENTORY CONTROL MANAGEMENT LIMITED

INVENTORY CONTROL MANAGEMENT LIMITED (REGISTERED NUMBER: 04630251)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 29 February 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


INVENTORY CONTROL MANAGEMENT LIMITED

COMPANY INFORMATION
For The Year Ended 29 February 2024







DIRECTOR: M Dries





REGISTERED OFFICE: 7a Abbey Business Park
Monks Walk
Farnham
Surrey
GU9 8HT





REGISTERED NUMBER: 04630251 (England and Wales)

INVENTORY CONTROL MANAGEMENT LIMITED (REGISTERED NUMBER: 04630251)

ABRIDGED BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 5,000
Tangible assets 5 108 500
108 5,500

CURRENT ASSETS
Stocks 572,871 544,589
Debtors 167,034 144,414
Cash at bank 113,458 138,472
853,363 827,475
CREDITORS
Amounts falling due within one year 285,049 130,758
NET CURRENT ASSETS 568,314 696,717
TOTAL ASSETS LESS CURRENT
LIABILITIES

568,422

702,217

CREDITORS
Amounts falling due after more than one year 83,104 149,915
NET ASSETS 485,318 552,302

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 485,218 552,202
SHAREHOLDERS' FUNDS 485,318 552,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 November 2024 and were signed by:



M Dries - Director


INVENTORY CONTROL MANAGEMENT LIMITED (REGISTERED NUMBER: 04630251)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 29 February 2024


1. STATUTORY INFORMATION

Inventory Control Management 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
The company's turnover represents the value, excluding value added tax, of goods supplied to customers during the period. Turnover arose wholly from the principal activities. Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

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.

Website development is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment-33% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.

Consideration is given to whether deferred tax should be provided in respect of material timing differences which have not reversed at the balance sheet date. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits.

Current tax assets and liabilities are not discounted and are 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

INVENTORY CONTROL MANAGEMENT LIMITED (REGISTERED NUMBER: 04630251)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29 February 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 29 February 2024 15,000
AMORTISATION
At 1 March 2023 10,000
Amortisation for year 5,000
At 29 February 2024 15,000
NET BOOK VALUE

At 29 February 2024 -
At 28 February 2023 5,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 29 February 2024 6,021
DEPRECIATION
At 1 March 2023 5,521
Charge for year 392
At 29 February 2024 5,913
NET BOOK VALUE
At 29 February 2024 108
At 28 February 2023 500

6. RELATED PARTY DISCLOSURES

As at 29 February 2024, the balance due from the related undertaking, ICM Mexico was £94,941 (2023 - £94,941) and this amount is included within Debtors due within one year.