Silverfin false false 30/04/2024 01/05/2023 30/04/2024 R J Andrade 25/03/1997 R J Underhill 21/07/2004 S I Underhill 15/05/2006 29 October 2024 The principal activity of the Company during the financial year was providing finance to its connected companies. 03284115 2024-04-30 03284115 bus:Director1 2024-04-30 03284115 bus:Director2 2024-04-30 03284115 bus:Director3 2024-04-30 03284115 2023-04-30 03284115 core:CurrentFinancialInstruments 2024-04-30 03284115 core:CurrentFinancialInstruments 2023-04-30 03284115 core:Non-currentFinancialInstruments 2024-04-30 03284115 core:Non-currentFinancialInstruments 2023-04-30 03284115 core:ShareCapital 2024-04-30 03284115 core:ShareCapital 2023-04-30 03284115 core:OtherCapitalReserve 2024-04-30 03284115 core:OtherCapitalReserve 2023-04-30 03284115 core:RetainedEarningsAccumulatedLosses 2024-04-30 03284115 core:RetainedEarningsAccumulatedLosses 2023-04-30 03284115 core:CostValuation 2023-04-30 03284115 core:CostValuation 2024-04-30 03284115 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-04-30 03284115 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-04-30 03284115 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-04-30 03284115 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-04-30 03284115 core:CurrentFinancialInstruments 1 2024-04-30 03284115 core:CurrentFinancialInstruments 1 2023-04-30 03284115 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-04-30 03284115 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-04-30 03284115 bus:OrdinaryShareClass1 2024-04-30 03284115 2023-05-01 2024-04-30 03284115 bus:FilletedAccounts 2023-05-01 2024-04-30 03284115 bus:SmallEntities 2023-05-01 2024-04-30 03284115 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03284115 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03284115 bus:Director1 2023-05-01 2024-04-30 03284115 bus:Director2 2023-05-01 2024-04-30 03284115 bus:Director3 2023-05-01 2024-04-30 03284115 2022-05-01 2023-04-30 03284115 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 03284115 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 03284115 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03284115 (England and Wales)

ICC (ONE) LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

ICC (ONE) LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

ICC (ONE) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
ICC (ONE) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 1 1
1 1
Current assets
Debtors
- due within one year 4 1,123,474 1,116,908
- due after more than one year 4 722,000 734,100
Cash at bank and in hand 1,242 16,944
1,846,716 1,867,952
Creditors: amounts falling due within one year 5 ( 1,302,111) ( 1,316,971)
Net current assets 544,605 550,981
Total assets less current liabilities 544,606 550,982
Creditors: amounts falling due after more than one year 6 ( 685,837) ( 685,837)
Net liabilities ( 141,231) ( 134,855)
Capital and reserves
Called-up share capital 7 1 1
Other reserves 43,294 43,294
Profit and loss account ( 184,526 ) ( 178,150 )
Total shareholders' deficit ( 141,231) ( 134,855)

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of ICC (One) Limited (registered number: 03284115) were approved and authorised for issue by the Board of Directors on 29 October 2024. They were signed on its behalf by:

R J Underhill
Director
ICC (ONE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
ICC (ONE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ICC (One) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 North Place, Cheltenham, GL50 4DW, United Kingdom. The principal place of business is The Old Rectory, 38 Broad Street, Ludlow, SY8 1NL.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £141,231. The Company is supported through loans from connected companies. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and connected companies will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year 0 0

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 May 2023 1 1
At 30 April 2024 1 1
Carrying value at 30 April 2024 1 1
Carrying value at 30 April 2023 1 1

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Amounts owed by own subsidiaries 734,460 734,460
Amounts owed by connected companies 385,290 378,724
Corporation tax 3,724 3,724
1,123,474 1,116,908
Debtors: amounts falling due after more than one year
Amounts owed by connected companies 722,000 734,100

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to connected companies 933,796 933,796
Amounts owed to related parties 365,615 369,395
Amounts owed to directors 0 11,780
Accruals 2,700 2,000
1,302,111 1,316,971

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other loans 333,783 333,783
Other creditors 352,054 352,054
685,837 685,837

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
90 Ordinary shares of £ 0.01 each 0.90 0.90

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to director 0 11,780

There is no interest charged on this loan and it is repayable on demand.

Other related party transactions

The Underhill 1983 Settlement Trust is deemed to be a related party of ICC (One) Limited as the directors are the beneficiaries of the Trust. At the balance sheet date there is an amount owing to the P J Underhill IIP Trust for £369,395 (2023: £369,395) and is included in creditors due within one year. There is also £685,837 (2023: £685,837) included within creditors due in more than one year due to the 1983 Underhill Settlement, main fund and Children's fund . Interest has not been charged on these loans during the year.

9. Securities

The loans are secured by charges dated 8 October 2012 over the assets of the company.