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REGISTERED NUMBER: 02732784 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

ICON Value Added Distribution Ltd

ICON Value Added Distribution Ltd (Registered number: 02732784)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ICON Value Added Distribution Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A H Coster
D I Marshall
M Shane





SECRETARY: Mrs K Coster





REGISTERED OFFICE: Albright House
156 St Albans Road
Sandridge
St Albans
Hertfordshire
AL4 9LP





REGISTERED NUMBER: 02732784 (England and Wales)






ICON Value Added Distribution Ltd (Registered number: 02732784)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
ASSETS

FIXED ASSETS
Tangible assets 4 3,316 4,422

CURRENT ASSETS
Stocks 499,080 741,127
Debtors 5 517,024 354,918
Cash at bank 2,774,803 2,075,410
3,790,907 3,171,455
3,794,223 3,175,877

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES
Called up share capital 16,250 16,250
Retained earnings 3,099,256 2,695,112
3,115,506 2,711,362

CREDITORS 6 678,717 464,515
3,794,223 3,175,877

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

ICON Value Added Distribution Ltd (Registered number: 02732784)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:




A H Coster - Director



D I Marshall - Director


ICON Value Added Distribution Ltd (Registered number: 02732784)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

ICON Value Added Distribution 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.

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.

Turnover
Turnover represents net invoiced sales of goods and the sale of support contracts, excluding value added tax. Revenue for goods sold is recognised when the goods are dispatched. Revenue for the sale of support contracts is apportioned over the duration of the support contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

ICON Value Added Distribution Ltd (Registered number: 02732784)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 72,641
DEPRECIATION
At 1 January 2023 68,219
Charge for year 1,106
At 31 December 2023 69,325
NET BOOK VALUE
At 31 December 2023 3,316
At 31 December 2022 4,422

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 517,024 354,918

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 363,351 238,459
Taxation and social security 207,573 145,143
Other creditors 107,793 80,913
678,717 464,515

ICON Value Added Distribution Ltd (Registered number: 02732784)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. OTHER FINANCIAL COMMITMENTS

At the year-end, the company had obligations for motor leases in the amount of £16,500 per annum.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A H Coster.