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
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
ICARS AUTOMOTIVE LTD
Statement of financial position
as at 31 March 2024
Tangible assets
2,437
3,621
Inventories
123,169
98,000
Cash at bank and in hand
4,682
10,191
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)
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
ICARS AUTOMOTIVE LTD
Notes to the Accounts
for the year ended 31 March 2024
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.
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:
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
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
At 31 March 2024
1,673
764
2,437
At 31 March 2023
2,331
1,290
3,621
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
Taxes and social security
10,629
7,140
Loans from directors
15,312
18,025
6
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
30,000
-
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).