Registered number
03714426
Icon Corporate Finance Limited
Unaudited Filleted Accounts
30 April 2024
Icon Corporate Finance Limited
Registered number: 03714426
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Investments 5 47,058 66,326
Current assets
Debtors 6 10,400 462,661
Cash at bank and in hand 3,225,864 3,517,861
3,236,264 3,980,522
Creditors: amounts falling due within one year 7 (323,902) (938,437)
Net current assets 2,912,362 3,042,085
Net assets 2,959,420 3,108,411
Capital and reserves
Called up share capital 45,000 45,000
Share premium 6,575 6,575
Capital redemption reserve 8 1,925 1,925
Profit and loss account 2,905,920 3,054,911
Shareholders' funds 2,959,420 3,108,411
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A C Bristow
Director
Approved by the board on 5 August 2024
Icon Corporate Finance Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 25% straight line
Office equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 13
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 600,000
At 30 April 2024 600,000
Amortisation
At 1 May 2023 600,000
At 30 April 2024 600,000
Net book value
At 30 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Computer and office equipment
£
Cost
At 1 May 2023 40,254
At 30 April 2024 40,254
Depreciation
At 1 May 2023 40,254
At 30 April 2024 40,254
Net book value
At 30 April 2024 -
5 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 May 2023 3,974 62,352 66,326
Disposals - (19,268) (19,268)
At 30 April 2024 3,974 43,084 47,058
6 Debtors 2024 2023
£ £
Trade debtors 5,400 457,661
Other debtors 5,000 5,000
10,400 462,661
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 117,818 89,765
Taxation and social security costs 41,761 482,368
Other creditors 164,323 366,304
323,902 938,437
8 Capital redemption reserve 2024 2023
£ £
At 1 May 2023 1,925 1,925
At 30 April 2024 1,925 1,925
9 Related party transactions
During the year the company was controlled by its directors and shareholders.
During the year £ 37,452 (2023:£34,920) was paid to A C Bristow (a director of the company) being rents payable.
9 Other information
Icon Corporate Finance Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Kings Court
Little King Street
Bristol
BS1 4HW
Icon Corporate Finance Limited 03714426 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 A C Bristow No description of principal activity 03714426 2022-05-01 2023-04-30 03714426 core:WithinOneYear 2023-04-30 03714426 core:ShareCapital 2023-04-30 03714426 core:SharePremium 2023-04-30 03714426 core:OtherReservesSubtotal 2023-04-30 03714426 core:RetainedEarningsAccumulatedLosses 2023-04-30 03714426 core:RevaluationReserve 2022-04-30 03714426 2023-05-01 2024-04-30 03714426 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03714426 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03714426 bus:Director40 2023-05-01 2024-04-30 03714426 1 2023-05-01 2024-04-30 03714426 2 2023-05-01 2024-04-30 03714426 countries:England 2023-05-01 2024-04-30 03714426 bus:FRS102 2023-05-01 2024-04-30 03714426 bus:FilletedAccounts 2023-05-01 2024-04-30 03714426 2024-04-30 03714426 core:WithinOneYear 2024-04-30 03714426 core:ShareCapital 2024-04-30 03714426 core:SharePremium 2024-04-30 03714426 core:OtherReservesSubtotal 2024-04-30 03714426 core:RetainedEarningsAccumulatedLosses 2024-04-30 03714426 core:Goodwill 2024-04-30 03714426 core:PlantMachinery 2024-04-30 03714426 core:DisposalsRepaymentsInvestments 2024-04-30 03714426 core:RevaluationReserve 2024-04-30 03714426 2023-04-30 03714426 core:Goodwill 2023-04-30 03714426 core:PlantMachinery 2023-04-30 03714426 core:RevaluationReserve 2023-04-30 iso4217:GBP xbrli:pure