International Compliance Solutions Limited

Sally Jane Bustos Alejandro Enrique Bustos Baez

08396231 (England and Wales)

Congress House Lyon Road Harrow Middlesex HA1 2EN

Evolve Accounting and Tax Solutions Ltd Congress House 14 Lyon Road Harrow Middlesex HA1 2EN

Tangible assets

2,978 

3,318 

Debtors

439,276 

358,910 

Cash at bank and in hand

436,544 

379,261 

(116,862)

(138,346)

(630)

(630)

Called up share capital

1,000 

1,000 

Profit and loss account

760,306 

601,513 

For the year ending 28 February 2022 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 financial statements were approved by the Board of Directors and authorised for issue on 31 October 2022 and were signed on its behalf by

Sally Jane Bustos Director Company Registration No. 08396231

International Compliance Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 08396231. The registered office is Congress House, Lyon Road, Harrow, Middlesex, HA1 2EN.

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.

Plant & machinery

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

The tax expense for the year comprises current and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

At cost 

At 1 March 2021

12,929 

Additions

653 

At 28 February 2022

At 1 March 2021

9,611 

Charge for the year

993 

At 28 February 2022

At 28 February 2022

At 28 February 2021

Trade debtors

117,096 

35,135 

Other debtors

322,180 

323,775 

Trade creditors

359 

517 

Taxes and social security

108,749 

131,679 

Other creditors

1,297 

2,155 

Loans from directors

1,957 

3,165 

Accruals

4,500 

830 

Other creditors

During the year the average number of employees was 2 (2021: 2).