ICS GROUP ENTERPRISES LTD
Statement of financial position
as at
31 August 2020
Tangible assets
3,199
3,999
Cash at bank and in hand
130
11,467
Creditors: amounts falling due within one year
-
(1,234)
Net current assets
130
114,408
Total assets less current liabilities
3,329
118,407
Creditors: amounts falling due after more than one year
(103,204)
(213,175)
Net liabilities
(99,875)
(94,768)
Called up share capital
100
100
Profit and loss account
(99,975)
(94,868)
Shareholders' funds
(99,875)
(94,768)
For the year ending 31 August 2020 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2021 and were signed on its behalf by
Aamir Manzoor
Director
Company Registration No. 09720039
ICS GROUP ENTERPRISES LTD
Notes to the Accounts
for the year ended 31 August 2020
ICS GROUP ENTERPRISES LTD is a private company, limited by shares, registered in England and Wales, registration number 09720039. The registered office is 61 HAMILTON ROAD, HAMILTON ROAD, HIGH WYCOMBE, HP13 5BH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2020 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2018.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% reducing balance
Plant & machinery
20% reducing balance
Computer equipment
20% reducing balance
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2019
1,240
990
5,124
7,354
At 31 August 2020
1,240
990
5,124
7,354
At 1 September 2019
732
584
2,039
3,355
Charge for the year
102
81
617
800
At 31 August 2020
834
665
2,656
4,155
At 31 August 2020
406
325
2,468
3,199
At 31 August 2019
508
406
3,085
3,999
ICS GROUP ENTERPRISES LTD
Notes to the Accounts
for the year ended 31 August 2020
5
Debtors: amounts falling due within one year
2020
2019
6
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
-
1,034
7
Creditors: amounts falling due after more than one year
2020
2019
Loans from directors
103,204
213,175
8
Average number of employees
During the year the average number of employees was 1 (2019: 1).