Iceberg Civil Engineering Ltd
Registered number: 10196123
Statement of Financial Position
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,981 2,438
Current assets
Debtors 4 23,297 32,354
Cash at bank and in hand 53,047 75,471
76,344 107,825
Creditors: amounts falling due within one year 5 (18,160) (43,539)
Net current assets 58,184 64,286
Total assets less current liabilities 60,165 66,724
Provisions for liabilities (376) (463)
Net assets 59,789 66,261
Capital and reserves
Called up share capital 100 100
Profit and loss account 59,689 66,161
Shareholders' funds 59,789 66,261
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Taylor
Director
Approved by the board on 1 November 2023
Iceberg Civil Engineering Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 13,701
Additions 316
Disposals (635)
At 31 May 2023 13,382
Depreciation
At 1 June 2022 11,263
Charge for the year 660
On disposals (522)
At 31 May 2023 11,401
Net book value
At 31 May 2023 1,981
At 31 May 2022 2,438
4 Debtors 2023 2022
£ £
Trade debtors 7,430 29,770
Prepayments 250 222
Other debtors 15,617 2,362
23,297 32,354
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,122 1,922
Accruals 1,433 1,215
Corporation tax 12,885 10,210
Other taxes and social security costs 408 -
Other creditors 312 30,192
18,160 43,539
6 Other information
Iceberg Civil Engineering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
Iceberg Civil Engineering Ltd 10196123 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts April 2022 Mr A Taylor No description of principal activity 10196123 2021-06-01 2022-05-31 10196123 core:WithinOneYear 2022-05-31 10196123 core:ShareCapital 2022-05-31 10196123 core:RetainedEarningsAccumulatedLosses 2022-05-31 10196123 2022-06-01 2023-05-31 10196123 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10196123 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 10196123 bus:Director40 2022-06-01 2023-05-31 10196123 1 2022-06-01 2023-05-31 10196123 2 2022-06-01 2023-05-31 10196123 core:PlantMachinery 2022-06-01 2023-05-31 10196123 countries:England 2022-06-01 2023-05-31 10196123 bus:FRS102 2022-06-01 2023-05-31 10196123 bus:FullAccounts 2022-06-01 2023-05-31 10196123 2023-05-31 10196123 core:WithinOneYear 2023-05-31 10196123 core:ShareCapital 2023-05-31 10196123 core:RetainedEarningsAccumulatedLosses 2023-05-31 10196123 core:PlantMachinery 2023-05-31 10196123 2022-05-31 10196123 core:PlantMachinery 2022-05-31 iso4217:GBP xbrli:pure