Icar World Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 10066787 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Icar World Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

2,586

2,302

CURRENT ASSETS

Stocks

147,454

184,889

Debtors

5

98,734

94,591

Cash at bank and in hand

83,908

219,701

330,096

499,181

CREDITORS

Amounts falling due within one year

6

13,379

105,138

NET CURRENT ASSETS

316,717

394,043

TOTAL ASSETS LESS CURRENT LIABILITIES

319,303

396,345

CREDITORS

Amounts falling due after more than one year

7

(49,454

)

(59,510

)

PROVISIONS FOR LIABILITIES

(491

)

-

NET ASSETS

269,358

336,835

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

269,257

336,734

SHAREHOLDERS' FUNDS

269,358

336,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

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 14 March 2023 and were signed on its behalf by:

Mr B Kiourtzidis - Director

1.	STATUTORY INFORMATION

Icar World Ltd 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:

10066787

Registered office:

9 Palmers Avenue

Grays

Essex

RM17 5TX

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.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

4,934

Additions

1,526

At 31 March 2022

6,460

DEPRECIATION

At 1 April 2021

2,632

Charge for year

1,242

At 31 March 2022

3,874

NET BOOK VALUE

At 31 March 2022

2,586

At 31 March 2021

2,302

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

33,452

26,336

Other debtors

65,282

68,255

98,734

94,591

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

10,140

7,990

Trade creditors

11,026

4,064

Taxation and social security

(12,010

)

52,507

Other creditors

4,223

40,577

13,379

105,138

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

31,954

42,010

Other creditors

17,500

17,500

49,454

59,510