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REGISTERED NUMBER: 02837662 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Icon Construction Services Limited

Icon Construction Services Limited (Registered number: 02837662)






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 Construction Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S W Berrow
J W Berrow



REGISTERED OFFICE: 130 Downend Road
Fishponds
Bristol
BS16 5BG



REGISTERED NUMBER: 02837662 (England and Wales)



ACCOUNTANTS: Stanley Joseph Limited
Chartered Accountants
Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST



BANKERS: Barclays Bank Plc
Bristol Mid Corporate
15 Queen Square
Bristol
BS1 4NP

Icon Construction Services Limited (Registered number: 02837662)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 66,332 73,252

CURRENT ASSETS
Debtors 5 462,485 950,147
Cash at bank and in hand 239,116 476,656
701,601 1,426,803
CREDITORS
Amounts falling due within one year 6 542,428 192,030
NET CURRENT ASSETS 159,173 1,234,773
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,505

1,308,025

CREDITORS
Amounts falling due after more than one
year

7

(20,819

)

(16,697

)

PROVISIONS FOR LIABILITIES (16,583 ) (13,918 )
NET ASSETS 188,103 1,277,410

Icon Construction Services Limited (Registered number: 02837662)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 200 1,020
Capital redemption reserve 820 -
Retained earnings 187,083 1,276,390
SHAREHOLDERS' FUNDS 188,103 1,277,410

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.

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 August 2024 and were signed on its behalf by:





S W Berrow - Director


Icon Construction Services Limited (Registered number: 02837662)

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

1. STATUTORY INFORMATION

Icon Construction Services 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.

Significant judgements and estimates
The preparation of financial statements requires the company to make estimates and assumptions that affect the application of policies and reported amounts. Estimates and judgements are continually evaluated and are based on historic experience and other factors including expectations of future events and believed to be reasonable under the circumstances. Actual results may differ from these estimates. The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities as outlined below:

1) Revenue and margin recognition
The company's revenue recognition requires forecasts to be made on the outcome of long-term construction services contracts, which require assessment and judgements to be made on recovery of pre-contract costs, changes in the scope of work, contract programmes, defects and changes in costs.

Turnover
Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year. All transactions arose in the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Icon Construction Services Limited (Registered number: 02837662)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like cash and bank balances, trade debtors and creditors, bank overdrafts, finance leases and hire purchase contracts.

A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss immediately.

Any reversals of impairment are recognised in the profit and loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 Construction Services Limited (Registered number: 02837662)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Fixed asset investments
Fixed assets investments that are not listed on a recognised stock exchange are carried at historical
cost less any provision for impairment in their value. Current asset investments are included at the lower of cost and net realisable value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Icon Construction Services Limited (Registered number: 02837662)

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 77,582 112,302 26,831 216,715
Additions - 14,456 1,639 16,095
Disposals - (12,600 ) - (12,600 )
At 31 December 2023 77,582 114,158 28,470 220,210
DEPRECIATION
At 1 January 2023 65,159 56,616 21,688 143,463
Charge for year 1,863 13,952 3,214 19,029
Eliminated on disposal - (8,614 ) - (8,614 )
At 31 December 2023 67,022 61,954 24,902 153,878
NET BOOK VALUE
At 31 December 2023 10,560 52,204 3,568 66,332
At 31 December 2022 12,423 55,686 5,143 73,252

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 30,525
Additions 14,456
At 31 December 2023 44,981
DEPRECIATION
At 1 January 2023 7,631
Charge for year 6,626
At 31 December 2023 14,257
NET BOOK VALUE
At 31 December 2023 30,724
At 31 December 2022 22,894

Icon Construction Services Limited (Registered number: 02837662)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 96,927 146,811
Other debtors 365,558 803,336
462,485 950,147

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 10,174 5,273
Trade creditors 136,578 98,791
Taxation and social security 65,845 71,903
Other creditors 329,831 16,063
542,428 192,030

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 20,819 16,697

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
200 Ordinary £1 200 1,020
(31.12.22 -
1,020 )

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £32,165 (2022 - £24,500) were paid to the directors .

Icon Construction Services Limited (Registered number: 02837662)

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

9. RELATED PARTY DISCLOSURES - continued

N P Berrow

20232022

Interest paid to company12,80910,834

Capital introduced/(withdrawn)576,721(54,834)

The amount due to the ex director at the balance sheet date was £2,191 (2022 - due from the director £574,530).

The company also paid rent for their commercial premises to a pension scheme which Mr N P Berrow is the beneficiary of £10,800 (2022 - £10,800).

S Berrow
20232022

Capital introduced/(withdrawn)159,208-

The amount due to the director at the balance sheet date was £159,208 (2022 - £Nil).

J Berrow
20232022

Capital introduced/(withdrawn)159,208-

The amount due to the director at the balance sheet date was £159,208 (2022 - £Nil).

10. ULTIMATE CONTROLLING PARTY

The controlling party is S W Berrow.