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In Car Technologies Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






In Car Technologies Limited (Registered number: 03950318)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


In Car Technologies Limited (Registered number: 03950318)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,671 8,637

CURRENT ASSETS
Stocks 265,740 294,066
Debtors 5 110,442 110,007
Cash at bank and in hand 183,734 237,092
559,916 641,165
CREDITORS
Amounts falling due within one year 6 240,053 254,245
NET CURRENT ASSETS 319,863 386,920
TOTAL ASSETS LESS CURRENT LIABILITIES 373,534 395,557

PROVISIONS FOR LIABILITIES 8,595 2,159
NET ASSETS 364,939 393,398

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 364,839 393,298
364,939 393,398

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

In Car Technologies Limited (Registered number: 03950318)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





Mrs J Hall - Director


In Car Technologies Limited (Registered number: 03950318)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

In Car Technologies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03950318

Registered office: Unit 3 Apple Lane
Trade City
Sowton Industrial Estate
Exeter
Devon
EX2 5GL

The presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short Leasehold - straight line over 15 years
Plant and machinery etc - straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


In Car Technologies Limited (Registered number: 03950318)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 - 51,684 51,684
Additions 19,382 37,938 57,320
At 31 December 2024 19,382 89,622 109,004
DEPRECIATION
At 1 January 2024 - 43,047 43,047
Charge for year 92 12,194 12,286
At 31 December 2024 92 55,241 55,333
NET BOOK VALUE
At 31 December 2024 19,290 34,381 53,671
At 31 December 2023 - 8,637 8,637

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 88,212 94,047
Other debtors 22,230 15,960
110,442 110,007

In Car Technologies Limited (Registered number: 03950318)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 104,078 67,360
Taxation and social security 68,484 115,726
Other creditors 67,491 71,159
240,053 254,245