Icehouse Trading Company Limited - Accounts to registrar (filleted) - small 18.2

ICEHOUSE TRADING COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 03271530 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

FOR

ICEHOUSE TRADING COMPANY LIMITED

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

Mrs S K Coleman

Mr M P Coleman

Mr R Cooke

Mrs C A Cooke

SECRETARY:

REGISTERED OFFICE:

61 Queen Square

Bristol

BS1 4JZ

REGISTERED NUMBER:

03271530 (England and Wales)

ACCOUNTANTS:

Burnside

Chartered Accountants

and Statutory Auditor

61 Queen Square

Bristol

BS1 4JZ

FIXED ASSETS

Investments

456,250

CURRENT ASSETS

Debtors

1,151

CREDITORS

Amounts falling due within one year

31,064

23,490

NET CURRENT LIABILITIES

(31,062

)

(22,339

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

425,188

433,911

CREDITORS

Amounts falling due after more than
one year

421,500

427,500

NET ASSETS

3,688

6,411

CAPITAL AND RESERVES

Called up share capital

902

900

Capital redemption reserve

100

Retained earnings

2,686

5,411

3,688

6,411

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 30 October 2022 and were signed on its behalf by:

Mrs S K Coleman - Director

1.	STATUTORY INFORMATION

Icehouse Trading Company 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.

Preparation of consolidated financial statements

The financial statements contain information about Icehouse Trading Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 NIL (2021 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

COST

At 1 February 2021

and 31 January 2022

456,250

NET BOOK VALUE

At 31 January 2022

456,250

At 31 January 2021

456,250

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

Amounts owed by group undertakings

1,151

Other debtors

1,151

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

Preference shares

28,500

22,500

Amounts owed to group undertakings

1,574

Accruals and deferred income

990

31,064

23,490

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2022

2021

Preference shares

421,500

427,500

Included within preference shares due after more than 1 year is £307,500 (2021 - £337,500) which relates to amounts due after more than 5 years.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2022 and 31 January 2021:

2022

2021

Mr R Cooke

Balance outstanding at start of year

Amounts advanced

3,000

Amounts repaid

Amounts written off

(3,000

)

Amounts waived

Balance outstanding at end of year

Mrs C A Cooke

Balance outstanding at start of year

Amounts advanced

3,000

Amounts repaid

Amounts written off

(3,000

)

Amounts waived

Balance outstanding at end of year

9.	RELATED PARTY DISCLOSURES

The company was under the control of Mrs S Coleman throughout the current and previous year. Mrs S Coleman is a director and the majority shareholder.

The company owed £1,574 (2021 - the company was owed £1,151 by MG Property UK Limited) to its 100% subsidiary company, MG Property UK Limited, at the year end. The loan was interest free.