The Ice Agency Limited Filleted accounts for Companies House (small and micro)

THE ICE AGENCY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04469980

The Ice Agency Limited

Filleted Unaudited Financial Statements

30 June 2023

The Ice Agency Limited

Statement of Financial Position

30 June 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	130,448	44,544

Current assets

Debtors	6	130,572	64,418
Investments	7	26,438	49,549
Cash at bank and in hand		213,212	291,206
		---------	---------
		370,222	405,173

Creditors: amounts falling due within one year	8	( 104,572)	( 76,234)
		---------	---------
Net current assets		265,650	328,939
		---------	---------
Total assets less current liabilities		396,098	373,483

Creditors: amounts falling due after more than one year	9	–	( 38,627)
		---------	---------
Net assets		396,098	334,856
		---------	---------

The Ice Agency Limited

Statement of Financial Position (continued)

30 June 2023

	2023	2022
Note	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	395,998	334,756
	---------	---------
Shareholders funds	396,098	334,856
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 November 2023 , and are signed on behalf of the board by:

Mr S N Green

Director

Company registration number: 04469980

The Ice Agency Limited

Notes to the Financial Statements

Year ended 30 June 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13A Ravine Road, Poole, BH13 7HS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Total
	£	£	£
Cost
At 1 July 2022	8,346	58,190	66,536
Additions	–	96,950	96,950
	-------	---------	---------
At 30 June 2023	8,346	155,140	163,486
	-------	---------	---------
Depreciation
At 1 July 2022	7,444	14,548	21,992
Charge for the year	136	10,910	11,046
	-------	---------	---------
At 30 June 2023	7,580	25,458	33,038
	-------	---------	---------
Carrying amount
At 30 June 2023	766	129,682	130,448
	-------	---------	---------
At 30 June 2022	902	43,642	44,544
	-------	---------	---------

6. Debtors

	2023	2022
	£	£
Trade debtors	53,905	51,463
Other debtors	76,667	12,955
	---------	--------
	130,572	64,418
	---------	--------

7. Investments

	2023	2022
	£	£
Short-term deposits	26,438	49,549
	--------	--------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans	37,764	39,999
Trade creditors	11,181	1,691
Corporation tax	10,900	16,000
Social security and other taxes	9,727	211
Other creditors	35,000	18,333
	---------	--------
	104,572	76,234
	---------	--------

9. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Other creditors	–	38,627
	----	--------