Ikon Hardware Limited Filleted accounts for Companies House (small and micro)
Ikon Hardware Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
07048798
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Financial Statements |
Year ended 31 March 2022
Contents |
Page |
Officers and professional advisers |
1 |
Statement of financial position |
2 |
Notes to the financial statements |
4 |
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Officers and Professional Advisers |
The board of directors |
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Company secretary |
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Registered office |
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Accountants |
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Chartered Accountants |
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Sterling House |
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Wavell Drive, Rosehill |
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Carlisle, Cumbria |
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CA1 2SA |
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Statement of Financial Position |
2022 |
2021 |
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Note |
£ |
£ |
Fixed assets
Tangible assets |
4 |
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Investments |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current assets |
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Total assets less current liabilities |
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Provisions
Taxation including deferred tax |
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(
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Net assets |
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Capital and reserves
Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
10 November 2022
, and are signed on behalf of the board by:
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Director |
Company registration number:
07048798
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Notes to the Financial Statements |
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sterling House, Wavell Drive, Rosehill, Carlisle, Cumbria, CA1 2SA.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Revenue recognition
Taxation
Foreign currencies
Operating leases
Tangible assets
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Provisions
Financial instruments
4.
Tangible assets
Equipment |
Investment Property |
Total |
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£ |
£ |
£ |
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Cost or valuation |
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At 1 April 2021 |
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Revaluations |
– |
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At 31 March 2022 |
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Depreciation |
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At 1 April 2021 |
– |
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Revaluations |
– |
(
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(
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At 31 March 2022 |
– |
– |
– |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Tangible assets held at valuation
The investment property held by the Company has been valued by the company's director,
Mr R G Graham
, at the year end using available market information and expected return models. The historic cost of the property is £ 3,441,572
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5.
Investments
Investment Portfolio |
Cash in Portfolio |
Total |
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£ |
£ |
£ |
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Value |
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At 1 April 2021 |
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Additions |
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– |
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Disposals |
(
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– |
(
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Revaluations |
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– |
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Other movements |
– |
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At 31 March 2022 |
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Impairment |
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At 1 April 2021 and 31 March 2022 |
– |
– |
– |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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The investments have been valued at the year end using readily available stock market valuations.
In respect of investments held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows £6,519,871 (2021: £4,416,646).
6.
Debtors
2022 |
2021 |
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£ |
£ |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2022 |
2021 |
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£ |
£ |
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Corporation tax |
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– |
Social security and other taxes |
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Other creditors |
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8.
Financial instruments
The carrying amount for each category of financial instrument is as follows:
2022 |
2021 |
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£ |
£ |
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Financial assets measured at fair value through profit or loss
Investment Portfolio |
6,819,882 |
4,374,552 |
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9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2022 |
2021 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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Later than 5 years |
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10.
Directors' advances, credits and guarantees
11.
Related party transactions
At the year end the company owed a director £
264,558
(2021: £ 490,026
). The loan is repayable on demand and is interest free.