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REGISTERED NUMBER: 08401598 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 April 2023

for

ISTEC ICE LTD

ISTEC ICE LTD (REGISTERED NUMBER: 08401598)

Contents of the Financial Statements
for the year ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ISTEC ICE LTD

Company Information
for the year ended 30 April 2023







Directors: M J Coulson
A Quelch





Registered office: 3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ





Registered number: 08401598 (England and Wales)






ISTEC ICE LTD (REGISTERED NUMBER: 08401598)

Balance Sheet
30 April 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 20,000 20,000

Current assets
Debtors 5 - 121,865
Cash at bank 1,917 2,193
1,917 124,058
Creditors
Amounts falling due within one year 6 700 10,619
Net current assets 1,217 113,439
Total assets less current liabilities 21,217 133,439

Capital and reserves
Called up share capital 7 10,000 10,000
Retained earnings 11,217 123,439
Shareholders' funds 21,217 133,439

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

ISTEC ICE LTD (REGISTERED NUMBER: 08401598)

Balance Sheet - continued
30 April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 December 2023 and were signed on its behalf by:




M J Coulson - Director



A Quelch - Director


ISTEC ICE LTD (REGISTERED NUMBER: 08401598)

Notes to the Financial Statements
for the year ended 30 April 2023


1. Statutory information

Istec ICE 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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating deferred tax. A review of the provision for future taxation is carried out by management. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when the asset is disposed off.

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

Intangible assets
Intellectual property rights are not depreciated. This is not in accordance with FRS 102 but in the opinion of the directors is required for the accounts to show a true and fair view.

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 - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

ISTEC ICE LTD (REGISTERED NUMBER: 08401598)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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


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.

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.

ISTEC ICE LTD (REGISTERED NUMBER: 08401598)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4. Intangible fixed assets
Patents and
licences
£
Cost
At 1 May 2022
and 30 April 2023 20,000
Net book value
At 30 April 2023 20,000
At 30 April 2022 20,000

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors - 1,110
Other debtors - 120,755
- 121,865

6. Creditors: amounts falling due within one year
2023 2022
£ £
Taxation and social security - 619
Other creditors 700 10,000
700 10,619

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
10,000 Ordinary 1 10,000 10,000

ISTEC ICE LTD (REGISTERED NUMBER: 08401598)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


8. Related party disclosures

During the year the company undertook the following transactions with Istec Services Limited:

2023 2022

Expenses recharged by Istec Services Limited £Nil £323
Sale of goods to Istec Services Limited £Nil £2,947
Management charge to Istec Services Limited £Nil £13,200

During the year the company undertook the following transactions with Istec Consultants:

2023 2022

Consultancy charge to Istec Consultants £Nil £13,200