ICC Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03269635 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

ICC SOLUTIONS LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D J Maisey OBE DL

Mrs W Maisey OBE

SECRETARY:

Mrs W Maisey OBE

REGISTERED OFFICE:

St James Business Centre

Wilderspool Causeway

Warrington

Cheshire

WA4 6PS

REGISTERED NUMBER:

03269635 (England and Wales)

ACCOUNTANTS:

Livesey Spottiswood Ltd

Chartered Accountants

17 George Street

St Helens

Merseyside

WA10 1DB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

58,878

91,927

58,878

91,927

CURRENT ASSETS

Stocks

89,880

103,050

Debtors

434,561

421,478

Cash at bank and in hand

3,283,364

1,905,561

3,807,805

2,430,089

CREDITORS

Amounts falling due within one year

1,007,797

809,079

NET CURRENT ASSETS

2,800,008

1,621,010

TOTAL ASSETS LESS CURRENT LIABILITIES

2,858,886

1,712,937

PROVISIONS FOR LIABILITIES

10,900

16,915

NET ASSETS

2,847,986

1,696,022

CAPITAL AND RESERVES

Called up share capital

7

38,735

38,735

Retained earnings

2,809,251

1,657,287

SHAREHOLDERS' FUNDS

2,847,986

1,696,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 11 August 2021 and were signed on its behalf by:

Mr D J Maisey OBE DL - Director

1.	STATUTORY INFORMATION

ICC Solutions Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Turnover from the provision of support and maintenance services is recognised by reference to the stage of completion of the transaction at the balance sheet date, the amount of turnover can be measured reliably, it is probable the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Intellectual property

Purchased intellectual property is amortised on a straight-line basis over its estimated useful economic life of 10 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Over the term of the lease

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first in first out cost method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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 future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Employee benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2019 - 40 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

and 31 December 2020

17,735

AMORTISATION

At 1 January 2020

and 31 December 2020

17,735

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

377,762

Additions

8,432

Disposals

(83,204

)

At 31 December 2020

302,990

DEPRECIATION

At 1 January 2020

285,835

Charge for year

41,481

Eliminated on disposal

(83,204

)

At 31 December 2020

244,112

NET BOOK VALUE

At 31 December 2020

58,878

At 31 December 2019

91,927

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

3,136

41,780

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

38,735

Ordinary

£1

38,735

38,735