Icknield Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04689939 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Icknield Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S R Smith

R Oren

SECRETARY:

S R Smith

REGISTERED OFFICE:

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

BUSINESS ADDRESS:

33 Heathfield

Royston

Hertfordshire

SG8 5BN

REGISTERED NUMBER:

04689939 (England and Wales)

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Tangible assets

4

56

123

Investments

5

1

1

57

124

CURRENT ASSETS

Debtors

1,021,689

1,172,505

Cash at bank and in hand

592,174

234,336

1,613,863

1,406,841

CREDITORS

Amounts falling due within one year

1,135,124

1,014,316

NET CURRENT ASSETS

478,739

392,525

TOTAL ASSETS LESS CURRENT LIABILITIES

478,796

392,649

PROVISIONS FOR LIABILITIES

7

-

25

NET ASSETS

478,796

392,624

CAPITAL AND RESERVES

Called up share capital

8

5,020

5,020

Retained earnings

9

473,776

387,604

SHAREHOLDERS' FUNDS

478,796

392,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 March 2023 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 7 December 2023 and were signed on its behalf by:

S R Smith - Director

1.	STATUTORY INFORMATION

Icknield 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.

The financial statements have been prepared on a going concern basis.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions which impact on the reported amounts of assets and liabilities. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Such estimates include the provision of doubtful debts.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Investments in associates

Investments in associate undertakings are recognised at cost less impairment.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

Pension costs and other post-retirement 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 4 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

and 31 March 2023

21,303

DEPRECIATION

At 1 April 2022

21,180

Charge for year

67

At 31 March 2023

21,247

NET BOOK VALUE

At 31 March 2023

56

At 31 March 2022

123

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2022

and 31 March 2023

1

NET BOOK VALUE

At 31 March 2023

1

At 31 March 2022

1

6.	LEASING AGREEMENTS

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

31.3.23

31.3.22

£

£

Within one year

17,871

17,871

The full terms of the lease run from 25 December 2020 to 24 December 2025. However, there is a six month rolling break clause, therefore the commitment disclosed reflects a six month period.

7.	PROVISIONS FOR LIABILITIES

31.3.22

£

Deferred tax

25

Deferred

tax

£

Balance at 1 April 2022

25

Accelerated capital allowances

(17

)

Unpaid Pension Movement

(10

)

Balance at 31 March 2023

(2

)

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

5,000

Ordinary B

£1

5,000

5,000

20

Ordinary A

£1

20

20

5,020

5,020

The Ordinary A shares are entitled to 33% of distributions and the Ordinary B shares 67% of distributions, subject to a £25,000 per annum priority dividend to each B shareholder.

Both classes of shares rank pari-passu in all respects.

9.

RESERVES

Retained

earnings

£

At 1 April 2022

387,604

Profit for the year

86,172

At 31 March 2023

473,776

10.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £370 (2022: £186). The pension contributions outstanding at the year end amounted to £65 (2022: £23)