REGISTERED NUMBER: SC242575 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

INDEPENDENT CORROSION SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G J Corbett

SECRETARY:

Mrs L E Corbett

REGISTERED OFFICE:

137 Garthdee Road

Aberdeen

AB10 7AT

REGISTERED NUMBER:

SC242575 (Scotland)

ACCOUNTANTS:

Fyfe Moir & Associates

1st Floor, 5 Abercrombie Crt

Prospect Road,

Westhill

Aberdeenshire

Grampian

AB32 6FE

FIXED ASSETS

Tangible assets

4

877

1,834

CURRENT ASSETS

Debtors

5

8,904

1,838

Cash at bank

31,591

83,722

40,495

85,560

CREDITORS

Amounts falling due within one year

6

3,840

20,909

NET CURRENT ASSETS

36,655

64,651

TOTAL ASSETS LESS CURRENT LIABILITIES

37,532

66,485

PROVISIONS FOR LIABILITIES

7

219

459

NET ASSETS

37,313

66,026

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

37,213

65,926

SHAREHOLDERS' FUNDS

37,313

66,026

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 May 2025 and were signed by:

G J Corbett - Director

1.	STATUTORY INFORMATION

Independent Corrosion Services Limited is a private company, limited by shares , registered in Scotland. 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.

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.

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred 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 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.

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 NIL (2024 - 1 ).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

2,873

DEPRECIATION

At 1 April 2024

1,039

Charge for year

957

At 31 March 2025

1,996

NET BOOK VALUE

At 31 March 2025

877

At 31 March 2024

1,834

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Tax

6,984

-

VAT

93

-

Prepayments

1,827

1,838

8,904

1,838

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

(1

)

964

Tax

-

10,694

Social security and other taxes

-

787

VAT

-

4,145

Other creditors

-

311

Directors' current accounts

1,312

1,000

Accruals and deferred income

2,529

3,008

3,840

20,909

7.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

219

459

Deferred

tax

£

Balance at 1 April 2024

459

Movement in year

(240

)

Balance at 31 March 2025

219

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 April 2024

65,926

Deficit for the year

(28,713

)

At 31 March 2025

37,213