International Cargo Limited - Accounts to registrar (filleted) - small 18.2

International Cargo Limited - Accounts to registrar (filleted) - small 18.2

INTERNATIONAL CARGO LIMITED - Company Information

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IRIS Accounts Production v21.2.0.376 06689373 Board of Directors 1.2.20 31.1.21 31.1.21 28/10/21 false true false false true true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure066893732020-01-31066893732021-01-31066893732020-02-012021-01-31066893732019-01-31066893732019-02-012020-01-31066893732020-01-3106689373ns16:EnglandWales2020-02-012021-01-3106689373ns15:PoundSterling2020-02-012021-01-3106689373ns11:Director12020-02-012021-01-3106689373ns11:PrivateLimitedCompanyLtd2020-02-012021-01-3106689373ns11:SmallEntities2020-02-012021-01-3106689373ns11:Audited2020-02-012021-01-3106689373ns11:SmallCompaniesRegimeForDirectorsReport2020-02-012021-01-3106689373ns11:SmallCompaniesRegimeForAccounts2020-02-012021-01-3106689373ns11:FullAccounts2020-02-012021-01-3106689373ns11:Director22020-02-012021-01-3106689373ns11:RegisteredOffice2020-02-012021-01-3106689373ns6:CurrentFinancialInstruments2021-01-3106689373ns6:CurrentFinancialInstruments2020-01-3106689373ns6:ShareCapital2021-01-3106689373ns6:ShareCapital2020-01-3106689373ns6:RetainedEarningsAccumulatedLosses2021-01-3106689373ns6:RetainedEarningsAccumulatedLosses2020-01-3106689373ns6:CurrentFinancialInstrumentsns6:WithinOneYear2021-01-3106689373ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-01-31
REGISTERED NUMBER: 06689373 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2021

FOR

INTERNATIONAL CARGO LIMITED
Prime
Chartered Accountants
Statutory Auditor
No. 3 Caroline Court
13 Caroline Street
St Paul's Square
Birmingham
B3 1TR








INTERNATIONAL CARGO LIMITED (REGISTERED NUMBER: 06689373)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INTERNATIONAL CARGO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2021







DIRECTORS: M Robinson
B Walters





REGISTERED OFFICE: No 3 Caroline Court
13 Caroline Street
St Pauls Square
Birmingham
West Midlands
B3 1TR





REGISTERED NUMBER: 06689373 (England and Wales)





AUDITORS: Prime
Chartered Accountants
Statutory Auditor
No. 3 Caroline Court
13 Caroline Street
St Paul's Square
Birmingham
B3 1TR
Page 1
INTERNATIONAL CARGO LIMITED (REGISTERED NUMBER: 06689373)

BALANCE SHEET
31 JANUARY 2021

2021 2020
Notes £    £   
CURRENT ASSETS
Debtors 4 373,254 338,791
Cash at bank 79 7,463
373,333 346,254
CREDITORS
Amounts falling due within one year 5 101,085 168,072
NET CURRENT ASSETS 272,248 178,182
TOTAL ASSETS LESS CURRENT
LIABILITIES
272,248
178,182

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 272,148 178,082
SHAREHOLDERS' FUNDS 272,248 178,182

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 Board of Directors and authorised for issue on 28 October 2021 and were signed on its behalf by:





B Walters - Director


The notes form part of these financial statements

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INTERNATIONAL CARGO LIMITED (REGISTERED NUMBER: 06689373)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021


1. STATUTORY INFORMATION

International Cargo 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Current 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.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that balance sheet date. Transactions in foreign currencies are recorded at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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INTERNATIONAL CARGO LIMITED (REGISTERED NUMBER: 06689373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2021


2. ACCOUNTING POLICIES - continued

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 and loss in the period to which they relate. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Amounts owed by group undertakings 370,488 336,383
Other debtors 2,766 2,408
373,254 338,791

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 73,398 128,447
Taxation and social security 22,687 34,625
Other creditors 5,000 5,000
101,085 168,072

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicola Davies FCCA (Senior Statutory Auditor)
for and on behalf of Prime

7. FINANCIAL COMMITMENTS

The company's bankers have a first fixed charge over all present and future property, book and other debts, chattels and unclaimed capital; and a first floating charge over all present and future assets and undertakings.

An unlimited multilateral guarantee exists between the bank and International Cargo Limited, its fellow subsidiary companies, Entec International Limited, Need2 Limited and Adepto Group Limited, and its parent company Entec Global Limited. At the year end £193,438 (2020: £2,030,628) was due to the bank under this arrangement.

8. ULTIMATE PARENT COMPANY

The company is a subsidiary undertaking of Entec Global Limited, a company incorporated in England & Wales.

Copies of the financial statements for Entec Global Limited are available from Companies House, Crown Way, Cardiff, CF14 3UZ.

Page 4 continued...
INTERNATIONAL CARGO LIMITED (REGISTERED NUMBER: 06689373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2021


9. IMPACT OF COVID-19

The impact of the Covid-19 pandemic continues to affect the economy. The directors have considered the impact of this to the business after discussion with key stakeholders and are satisfied that at the time of approval of the financial statements the company has sufficient resources to be able to continue trading for the foreseeable future.

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