1 April 2023 false No description of principal activity Taxfiler 2024.6 12179025business:PrivateLimitedCompanyLtd2023-04-012024-03-31 121790252023-03-31 121790252023-04-012024-03-31 12179025business:AuditExempt-NoAccountantsReport2023-04-012024-03-31 12179025business:FilletedAccounts2023-04-012024-03-31 121790252024-03-31 12179025business:Director12023-04-012024-03-31 12179025business:RegisteredOffice2023-04-012024-03-31 121790252023-03-31 12179025core:WithinOneYear2024-03-31 12179025core:WithinOneYear2023-03-31 12179025core:AfterOneYear2024-03-31 12179025core:AfterOneYear2023-03-31 12179025core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 12179025core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 12179025core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 12179025core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 12179025core:PreviouslyStatedAmount2024-03-31 12179025core:PreviouslyStatedAmount2023-03-31 12179025business:SmallEntities2023-04-012024-03-31 12179025countries:EnglandWales2023-04-012024-03-31 12179025core:MotorVehicles2023-04-012024-03-31 12179025core:ComputerEquipment2023-04-012024-03-31 12179025core:MotorVehicles2023-03-31 12179025core:ComputerEquipment2023-03-31 12179025core:MotorVehicles2024-03-31 12179025core:ComputerEquipment2024-03-31 121790252022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 12179025 (England and Wales)
ICARS AUTOMOTIVE LTD Unaudited accounts for the year ended 31 March 2024
ICARS AUTOMOTIVE LTD Company Information for the year ended 31 March 2024
Director
Vasil Velkov
Company Number
12179025 (England and Wales)
Registered Office
11 Minehead Road Bristol Avon BS4 1BL England
Accountants
Faire Services Limited Certified Accountants 50 Northover Road Bristol BS9 3LJ
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ICARS AUTOMOTIVE LTD Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,437 
3,621 
Current assets
Inventories
123,169 
98,000 
Cash at bank and in hand
4,682 
10,191 
127,851 
108,191 
Creditors: amounts falling due within one year
(83,365)
(84,532)
Net current assets
44,486 
23,659 
Total assets less current liabilities
46,923 
27,280 
Creditors: amounts falling due after more than one year
(32,121)
(12,800)
Net assets
14,802 
14,480 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
14,800 
14,478 
Shareholders' funds
14,802 
14,480 
For the year ending 31 March 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 26 January 2025 and were signed on its behalf by
Vasil Velkov Director Company Registration No. 12179025
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ICARS AUTOMOTIVE LTD Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
ICARS AUTOMOTIVE LTD is a private company, limited by shares, registered in England and Wales, registration number 12179025. The registered office is 11 Minehead Road, Bristol, Avon, BS4 1BL, England.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Motor vehicles
18
Computer equipment
18
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
3,655 
2,921 
6,576 
At 31 March 2024
3,655 
2,921 
6,576 
Depreciation
At 1 April 2023
1,324 
1,631 
2,955 
Charge for the year
658 
526 
1,184 
At 31 March 2024
1,982 
2,157 
4,139 
Net book value
At 31 March 2024
1,673 
764 
2,437 
At 31 March 2023
2,331 
1,290 
3,621 
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ICARS AUTOMOTIVE LTD Notes to the Accounts for the year ended 31 March 2024
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
30,697 
34,063 
VAT
24,862 
18,036 
Trade creditors
- 
4,368 
Taxes and social security
10,629 
7,140 
Other creditors
- 
500 
Loans from directors
15,312 
18,025 
Accruals
1,865 
2,400 
83,365 
84,532 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
2,121 
12,800 
Loans from directors
30,000 
- 
32,121 
12,800 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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