2022-08-012023-07-312023-07-31false09693250ICOMSS 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ICOMSS LTD

Registered Number
09693250
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

ICOMSS LTD
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

MEAKIN, Andrew James

Registered Address

8 Segedunum Business Centre
Station Road
Wallsend
NE28 6HQ

Registered Number

09693250 (England and Wales)
ICOMSS LTD
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets339,79438,049
39,79438,049
Current assets
Debtors6,9934,868
Cash at bank and on hand5341,061
7,5275,929
Creditors amounts falling due within one year4(74,575)(63,302)
Net current assets (liabilities)(67,048)(57,373)
Total assets less current liabilities(27,254)(19,324)
Creditors amounts falling due after one year5(6,887)(6,887)
Net assets(34,141)(26,211)
Capital and reserves
Called up share capital1,0001,000
Profit and loss account(35,141)(27,211)
Shareholders' funds(34,141)(26,211)
The financial statements were approved and authorised for issue by the Director on 17 April 2024, and are signed on its behalf by:
MEAKIN, Andrew James
Director
Registered Company No. 09693250
ICOMSS LTD
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 August 22-46,7053,73650,441
Additions8,607--8,607
At 31 July 238,60746,7053,73659,048
Depreciation and impairment
At 01 August 22-12,392-12,392
Charge for year-6,862-6,862
At 31 July 23-19,254-19,254
Net book value
At 31 July 238,60727,4513,73639,794
At 31 July 22-34,3133,73638,049
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables54,48637,101
Bank borrowings and overdrafts18,33619,929
Amounts owed to related parties1,0535,573
Accrued liabilities and deferred income700699
Total74,57563,302
5.Creditors: amounts due after one year

2023

2022

££
Other creditors6,8876,887
Total6,8876,887
6.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts6,8876,887