Company registration number 07481775 (England and Wales)
Iceline Yorkshire Limited
Unaudited
financial statements
for the year ended 30 April 2023
PAGES FOR FILING WITH REGISTRAR
Iceline Yorkshire Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Iceline Yorkshire Limited
Statement of Financial Position
as at 30 April 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
231,907
243,989
Current assets
Stocks
294,407
182,985
Debtors
523,373
410,029
Cash at bank and in hand
91,218
172,769
908,998
765,783
Creditors: amounts falling due within one year
(380,354)
(366,953)
Net current assets
528,644
398,830
Total assets less current liabilities
760,551
642,819
Creditors: amounts falling due after more than one year
(33,076)
(59,789)
Provisions for liabilities
(34,541)
(36,267)
Net assets
692,934
546,763
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
692,834
546,663
Total equity
692,934
546,763
Iceline Yorkshire Limited
Statement of Financial Position (continued)
as at 30 April 2023
30 April 2023
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 27 October 2023 and are signed on its behalf by:
P Liddle
Director
Company Registration No. 07481775
Iceline Yorkshire Limited
Notes to the financial statements
for the year ended 30 April 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.
Turnover is recognised on provision of contractual service obligations where a right to consideration is due.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
10% reducing balance
Motor vehicles
20% reducing balance
Stocks
Stock and work in progress are recorded at the lower of cost and net realisable value.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in transaction that affects neither the tax profit nor the accounting profit.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Iceline Yorkshire Limited
Notes to the financial statements (continued)
for the year ended 30 April 2023
1
Accounting policies
(continued)
- 4 -
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Government grants
Government grants relate to Coronavirus Job Retention Scheme (CJRS) funding of staff who have been furloughed due to Covid-19. These revenue-based grants are recognised over the same period in which the related costs are incurred.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 26 (2022 - 24).
2023
2022
Number
Number
26
24
Iceline Yorkshire Limited
Notes to the financial statements (continued)
for the year ended 30 April 2023
- 5 -
3
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 May 2022
106,869
240,969
347,838
Additions
95,036
95,036
Disposals
(22,946)
(94,336)
(117,282)
At 30 April 2023
83,923
241,669
325,592
Depreciation and impairment
At 1 May 2022
29,659
74,190
103,849
Depreciation charged in the year
5,740
30,469
36,209
Eliminated in respect of disposals
(3,134)
(43,239)
(46,373)
At 30 April 2023
32,265
61,420
93,685
Carrying amount
At 30 April 2023
51,658
180,249
231,907
At 30 April 2022
77,210
166,779
243,989
Included within the net book value of £291,265 is £63,844 (2022 - £133,465) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £14,465 (2022 - £17,023).
4
Company information
Iceline Yorkshire Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lowgate Crossing Farm, Lowgate, Balne, Goole, DN14 0ED.