International Car Exports Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07597665 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2019

for

INTERNATIONAL CAR EXPORTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ajvinder Rebecca Kaur

SECRETARY:

Ajvinder Rebecca Kaur

REGISTERED OFFICE:

2 Wheeleys Road

Edgbaston

Birmingham

West Midlands

B15 2LD

REGISTERED NUMBER:

07597665 (England and Wales)

ACCOUNTANTS:

Brindleys Limited

2 Wheeleys Road

Edgbaston

Birmingham

West Midlands

B15 2LD

FIXED ASSETS

Tangible assets

4

1,110

1,306

CURRENT ASSETS

Debtors

5

485,048

426,135

Cash at bank and in hand

67,536

62,054

552,584

488,189

CREDITORS

Amounts falling due within one year

6

160,475

220,675

NET CURRENT ASSETS

392,109

267,514

TOTAL ASSETS LESS CURRENT LIABILITIES

393,219

268,820

PROVISIONS FOR LIABILITIES

211

-

NET ASSETS

393,008

268,820

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

392,008

267,820

SHAREHOLDERS' FUNDS

393,008

268,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 29 August 2020 and were signed by:

Ajvinder Rebecca Kaur - Director

1.	STATUTORY INFORMATION

International Car Exports 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.

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

-

25% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 September 2018

and 31 August 2019

3,830

DEPRECIATION

At 1 September 2018

2,524

Charge for year

196

At 31 August 2019

2,720

NET BOOK VALUE

At 31 August 2019

1,110

At 31 August 2018

1,306

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

355,354

268,270

Intercompany Balance

-

75,970

Deposit Paid

-

30,638

Berkeley Vehicle

-

3,411

VAT

129,694

47,846

485,048

426,135

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

52,382

40,674

Tax

68,571

37,537

Inter.co.-Golden Horse

-

110,572

Other Creditors

-

17,300

Directors' current accounts

25,027

5,097

Accrued expenses

14,495

9,495

160,475

220,675

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 August 2019 and the period

ended 31 August 2018:

2019

2018

£

£

Ajvinder Rebecca Kaur

Balance outstanding at start of year

(5,097

)

-

Amounts advanced

20,070

47,123

Amounts repaid

(40,000

)

(52,220

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(25,027

)

(5,097

)

Dividends issued during the period £ 40,000 (in 2018 £ 40,000)

8.	ULTIMATE CONTROLLING PARTY

Ultimate controlling party is Miss Ajvinder Rebecca Kaur.