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REGISTERED NUMBER: 05835192 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

I-Clad Limited

I-Clad Limited (Registered number: 05835192)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


I-Clad Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: JR Wimbush
Mrs S E Wimbush



SECRETARY: Mrs S E Wimbush



REGISTERED OFFICE: Cattermole Buildings
Market Place
Codnor
Ripley
Derbyshire
DE5 9QA



REGISTERED NUMBER: 05835192 (England and Wales)



ACCOUNTANTS: Thornhill Accountancy Services
Chartered Accountants
88 Thornhill Street
Calverley
Leeds
LS28 5PD



BANKERS: Bank of Scotland
600 Gorgie Road
Edinburgh
EH11 3XP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
I-Clad Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of I-Clad Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of I-Clad Limited, as a body, in accordance with the terms of our engagement letter dated 10 November 2008. Our work has been undertaken solely to prepare for your approval the financial statements of I-Clad Limited and state those matters that we have agreed to state to the Board of Directors of I-Clad Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than I-Clad Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that I-Clad Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of I-Clad Limited. You consider that I-Clad 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 financial statements of I-Clad 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 financial statements.






Thornhill Accountancy Services
Chartered Accountants
88 Thornhill Street
Calverley
Leeds
LS28 5PD


23 October 2024

I-Clad Limited (Registered number: 05835192)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,635 3,944
2,635 3,944

CURRENT ASSETS
Debtors 6 80,262 31,205
Cash at bank 322,195 356,108
402,457 387,313
CREDITORS
Amounts falling due within one year 7 104,897 109,605
NET CURRENT ASSETS 297,560 277,708
TOTAL ASSETS LESS CURRENT
LIABILITIES

300,195

281,652

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 299,195 280,652
SHAREHOLDERS' FUNDS 300,195 281,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 23 October 2024 and were signed on its behalf by:




JR Wimbush - Director


I-Clad Limited (Registered number: 05835192)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

I-Clad 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 comprises the value of services supplied by the company, net of trade discounts.

Intangible fixed assets
Intangible fixed assets are stated at cost less amortisation and are written off on a straight line basis as follows:

Goodwill Over 5 years

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost of the assets, less their estimated residual value, over their estimated useful lives on the following basis:

Computer equipment 35% reducing balance
Other office equipment 25% reducing balance
Motor vehicles 25% reducing balance

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.

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

I-Clad Limited (Registered number: 05835192)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 8,800
AMORTISATION
At 1 February 2023
and 31 January 2024 8,800
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Other
Computer office
equipment equipment Totals
£    £    £   
COST
At 1 February 2023 7,586 1,892 9,478
Additions - 892 892
Disposals (2,623 ) (545 ) (3,168 )
At 31 January 2024 4,963 2,239 7,202
DEPRECIATION
At 1 February 2023 4,648 886 5,534
Charge for year 776 398 1,174
Eliminated on disposal (1,903 ) (238 ) (2,141 )
At 31 January 2024 3,521 1,046 4,567
NET BOOK VALUE
At 31 January 2024 1,442 1,193 2,635
At 31 January 2023 2,938 1,006 3,944

I-Clad Limited (Registered number: 05835192)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 21,346 27,270
Other debtors 58,916 3,935
80,262 31,205

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 1,263 1,159
Taxation and social security 51,615 52,051
Other creditors 52,019 56,395
104,897 109,605

8. OTHER FINANCIAL COMMITMENTS

The company had outstanding commitments in respect of operating leases as at 31 January 2024 of £1,500 (2023 - £1,500).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
JR Wimbush
Balance outstanding at start of year - -
Amounts advanced 55,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 55,000 -

The above loan was repaid in March 2024 and interest was charged at 2.25% per annum.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £83,411 (2023 - £74,500) were paid to the directors .