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REGISTERED NUMBER: 04621973 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

ICEX LIMITED

ICEX LIMITED (REGISTERED NUMBER: 04621973)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ICEX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: I Harris
R Brown
Dr J Russell





REGISTERED OFFICE: Suite 3, Steeple House
Church Lane
Chelmsford
Essex
CM1 1NH





REGISTERED NUMBER: 04621973 (England and Wales)





ACCOUNTANTS: CBHC Limited
Suite 3, Steeple House
Church Lane
Chelmsford
Essex
CM1 1NH

ICEX LIMITED (REGISTERED NUMBER: 04621973)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 147,003 164,417
Tangible assets 5 18,952 23,700
165,955 188,117

CURRENT ASSETS
Stocks 133,590 133,590
Debtors 6 140,155 151,816
Cash at bank and in hand 139 3,587
273,884 288,993
CREDITORS
Amounts falling due within one year 7 (393,307 ) (356,185 )
NET CURRENT LIABILITIES (119,423 ) (67,192 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,532

120,925

CREDITORS
Amounts falling due after more than one year 8 (37,966 ) (47,786 )

PROVISIONS FOR LIABILITIES (7,315 ) (7,544 )
NET ASSETS 1,251 65,595

CAPITAL AND RESERVES
Called up share capital 70,635 70,635
Retained earnings (69,384 ) (5,040 )
1,251 65,595

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

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

ICEX LIMITED (REGISTERED NUMBER: 04621973)

BALANCE SHEET - continued
31ST 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 8th August 2024 and were signed on its behalf by:





Dr J Russell - Director


ICEX LIMITED (REGISTERED NUMBER: 04621973)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

ICEX 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. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
After review, it has been determined Goodwill has not been impaired.

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 and 10% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

ICEX LIMITED (REGISTERED NUMBER: 04621973)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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 25 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st January 2023 12,350 153,337 165,687
Disposals (2,350 ) - (2,350 )
At 31st December 2023 10,000 153,337 163,337
AMORTISATION
At 1st January 2023 1,270 - 1,270
Charge for year 1,000 15,334 16,334
Eliminated on disposal (1,270 ) - (1,270 )
At 31st December 2023 1,000 15,334 16,334
NET BOOK VALUE
At 31st December 2023 9,000 138,003 147,003
At 31st December 2022 11,080 153,337 164,417

ICEX LIMITED (REGISTERED NUMBER: 04621973)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 142,792
Additions 691
At 31st December 2023 143,483
DEPRECIATION
At 1st January 2023 119,092
Charge for year 5,439
At 31st December 2023 124,531
NET BOOK VALUE
At 31st December 2023 18,952
At 31st December 2022 23,700

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 74,610 49,124
Amounts owed by group undertakings 11,745 46,284
Other debtors 53,800 56,408
140,155 151,816

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 69,469 69,213
Hire purchase contracts 5,771 5,771
Trade creditors 202,802 109,887
Amounts owed to group undertakings 28,327 31,165
Taxation and social security 33,115 75,088
Other creditors 53,823 65,061
393,307 356,185

ICEX LIMITED (REGISTERED NUMBER: 04621973)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 35,925 41,216
Hire purchase contracts 2,041 6,570
37,966 47,786

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date ICEX Limited owed John Russell (director) £Nil (2022: £Nil).

10. RELATED PARTY DISCLOSURES

A director of ICEX, I Harris is also a director of CBHC Limited. CBHC Limited has billed ICEX £33,020 during the period for accountancy services.

During the year, the company was charged £55,200 (2022: £55,200) in management fees from ICEX Group Limited, the parent company of ICEX Limited.

During the year, the company was charged £542,836 (2022: £272,510) in recharged wages from Recycling Your IT Limited, a company within the group.

During the year, the company charged £62,192 (2022: £20,347) in recharged wages to ICEX Computers Limited.

At the balance sheet date ICEX Limited was owed £11,745 (2022: £25,937) from ICEX Group Limited, the parent company of ICEX Limited.

At the balance sheet date ICEX Limited owed £28,327 (2022: was owed £31,165) to Recycling Your IT Limited, a company within the group.

Included in Trade Creditors are the following balances:

A balance owing to ICEX Group Limited of £9,956.

A balance owing to CBHC Limited of £22,648, a company I Harris is also a director of.

A balance owing to C J Computing Limited of £9,000 , a company J Russell is also a director of.

A balance owing to ICEX Computers Limited of £189.

A balance owing to Recycling Your IT Limited of £42,230.

Included in Trade Debtors are the following balances:

A balance owing from ICEX Computers Limited of £934, a company within the group.

11. ULTIMATE CONTROLLING PARTY

The parent company during the year was ICEX Group Limited, there is no ultimate controlling party.