Registered number
09990660
Iceberg Cyber Security Limited
Unaudited Filleted Accounts
31 December 2023
Iceberg Cyber Security Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Iceberg Cyber Security Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Iceberg Cyber Security Limited for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Iceberg Cyber Security Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Iceberg Cyber Security Limited and state those matters that we have agreed to state to the Board of Directors of Iceberg Cyber Security Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Iceberg Cyber Security Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Iceberg Cyber Security Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Iceberg Cyber Security Limited. You consider that Iceberg Cyber Security Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Iceberg Cyber Security Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Buckley Watson Limited
Chartered Accountants and Statutory Auditors
57a Broadway
Leigh on Sea
Essex
SS9 1PE
23 September 2024
Iceberg Cyber Security Limited
Registered number: 09990660
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,096 1,824
Investments 4 20 20
1,116 1,844
Current assets
Debtors 5 86,466 268,057
Cash at bank and in hand 308,636 60,491
395,102 328,548
Creditors: amounts falling due within one year 6 (368,124) (233,723)
Net current assets 26,978 94,825
Total assets less current liabilities 28,094 96,669
Creditors: amounts falling due after more than one year 7 (18,333) (28,333)
Net assets 9,761 68,336
Capital and reserves
Called up share capital 100 100
Profit and loss account 9,661 68,236
Shareholders' funds 9,761 68,336
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.
P W Garrett
Director
Approved by the board on 23 September 2024
Iceberg Cyber Security Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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:
Fixtures, fittings, tools and equipment over 5 years
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 11
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 3,641
At 31 December 2023 3,641
Depreciation
At 1 January 2023 1,817
Charge for the year 728
At 31 December 2023 2,545
Net book value
At 31 December 2023 1,096
At 31 December 2022 1,824
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 20
At 31 December 2023 20
5 Debtors 2023 2022
£ £
Trade debtors 42,934 198,690
Other debtors 43,532 69,367
86,466 268,057
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 14,014 31,460
Taxation and social security costs 22,369 44,837
Other creditors 321,741 147,426
368,124 233,723
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,333 28,333
8 Other information
Iceberg Cyber Security Limited is a private company limited by shares and incorporated in England. Its registered office is:
57a Broadway
Leigh on Sea
Essex
SS9 1PE
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