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REGISTERED NUMBER: 06360475 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

My Icon Limited

My Icon Limited (Registered number: 06360475)






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




Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 4

Notes to the Financial Statements 5


My Icon Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: P M Tonkinson
R P Wilby





SECRETARY: P M Tonkinson





REGISTERED OFFICE: Santa Maria
Anchor Lane, The Heath
Dedham
Colchester
Essex
CO7 6BX





REGISTERED NUMBER: 06360475 (England and Wales)





ACCOUNTANT: Dedham Accountancy & Taxation Services Limited
t/a R J Woods & Co
Santa Maria
Anchor Lane, The Heath
Dedham
Colchester
Essex
CO7 6BX

My Icon Limited (Registered number: 06360475)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 18,956 23,928

CURRENT ASSETS
Stocks 17,220 32,339
Debtors 6 47,273 69,717
Cash at bank and in hand 29,360 6,041
93,853 108,097
CREDITORS
Amounts falling due within one year 7 91,446 99,519
NET CURRENT ASSETS 2,407 8,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,363

32,506

CREDITORS
Amounts falling due after more than one
year

8

(16,516

)

(26,614

)

PROVISIONS FOR LIABILITIES 9 - (4,159 )
NET ASSETS 4,847 1,733

CAPITAL AND RESERVES
Called up share capital 10 99 99
Retained earnings 4,748 1,634
SHAREHOLDERS' FUNDS 4,847 1,733

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

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

My Icon Limited (Registered number: 06360475)

Balance Sheet - continued
31 October 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 27 July 2024 and were signed on its behalf by:





P M Tonkinson - Director


My Icon Limited (Registered number: 06360475)

Statement of Changes in Equity
for the Year Ended 31 October 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 November 2021 99 78,083 78,182

Changes in equity
Dividends - (15,000 ) (15,000 )
Total comprehensive income - (61,449 ) (61,449 )
Balance at 31 October 2022 99 1,634 1,733

Changes in equity
Total comprehensive income - 3,114 3,114
Balance at 31 October 2023 99 4,748 4,847

My Icon Limited (Registered number: 06360475)

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

1. STATUTORY INFORMATION

My Icon Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are presented in Sterling (£).

Going concern:
The directors have considered the liquidity of the company as at the Balance Sheet and the likely cash flow requirements for the foreseeable future. The directors have confirmed that they will continue to financially support the company for the foreseeable future, and there have been no indications from the company's other creditors that they will not continue to support the company for the foreseeable future. Therefore, the directors are of the opinion that it is appropriate to continue to prepare the financial statements for the business as a going concern.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

Turnover
Turnover, which is derived wholly from the principal activity of the company. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods:
Revenue from the sale of goods is recognised when the company has transferred the significant risks and
rewards of ownership to the buyer, which is usually on the shipment of the goods.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives, using the straight line method.

Depreciation is provided on the following basis:

Plant and machinery etc - 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains or losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

My Icon Limited (Registered number: 06360475)

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

3. ACCOUNTING POLICIES - continued

Stocks
Stocks of goods and work-in-progress are valued at the lower of cost and net realisable value.

Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of the tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances
have been met.

Deferred tax balances are not recognised in respect of permanent timing differences except in respect of business combinations, when deferred tax is recognised on the differences between fair values of assets acquired and the future tax deductions available for them and the differences between fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Leasing commitments
Rentals paid under operating leases are charged to the Income Statementon a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the company's benefit from the use of the leased asset.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans,are measured at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 9 ) .

My Icon Limited (Registered number: 06360475)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 195,123
Additions 5,487
At 31 October 2023 200,610
DEPRECIATION
At 1 November 2022 171,195
Charge for year 10,459
At 31 October 2023 181,654
NET BOOK VALUE
At 31 October 2023 18,956
At 31 October 2022 23,928

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 43,246 63,629
Tax 2,027 4,088
Prepayments 2,000 2,000
47,273 69,717

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 54,183 58,914
Trade creditors 27,017 32,568
Taxation and social security 8,153 5,922
Other creditors 2,093 2,115
91,446 99,519

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 16,516 26,614

9. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax - 4,159

My Icon Limited (Registered number: 06360475)

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

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2022 4,159
Accelerated capital allowances (4,159 )
Balance at 31 October 2023 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
99 Ordinary £1 99 99