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REGISTERED NUMBER: 06466326 (England and Wales)












IKON ALUMINIUM SYSTEMS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






IKON ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 06466326)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IKON ALUMINIUM SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R Ashcroft
R Gibbs
A Mackie
J Park-Davies
K Ellis





REGISTERED OFFICE: Units 1 - 3
Lea Ford Road
Shard End
Birmingham
B33 9TX





REGISTERED NUMBER: 06466326 (England and Wales)





AUDITORS: Fruition Advisory LLP
29 Wood Street
Stratford-upon-Avon
CV37 6JG

IKON ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 06466326)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 185,388 179,900
Debtors 5 1,378,323 1,036,014
Cash at bank 73,720 235,075
1,637,431 1,450,989
CREDITORS
Amounts falling due within one year 6 596,843 508,984
NET CURRENT ASSETS 1,040,588 942,005
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,040,588

942,005

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 1,040,587 942,004
SHAREHOLDERS' FUNDS 1,040,588 942,005

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 7 November 2024 and were signed on its behalf by:





R Ashcroft - Director


IKON ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 06466326)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Ikon Aluminium Systems 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 principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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

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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in, fist-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit and loss.

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.

IKON ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 06466326)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefit to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contributions due for service, the excess is recognised as a prepayment.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business

Trade debtors are recognised at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provison for impairment. A provison for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and Cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period. If there is an unconditional right to defer settlement for at least twelve months after the reporting period, they are presented as non-current liabilities.

Trade creditors are recgonised initially at the transaction price and subsequently measured at amortised cost using the effecting interest method.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources or receivables, net of the direct cost of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividend
Dividend distributions to the company's shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 25 ) .

4. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

6,000

3,000

IKON ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 06466326)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 614,847 580,958
Amounts owed by group undertakings 680,911 419,757
Other debtors 82,565 35,299
1,378,323 1,036,014

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 257,923 227,127
Taxation and social security 287,155 227,365
Other creditors 51,765 54,492
596,843 508,984

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1 1 1

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michelle Vincent (Senior Statutory Auditor)
for and on behalf of Fruition Advisory LLP

9. PENSION COMMITMENTS

Included in the balance sheet are pensions of £2,818 (2023 - £2,646). The company operates a defined contribution pension scheme for its employees. At the year end the outstanding commitment relating to this scheme was £2,818 (2023: £2,646).

10. OTHER FINANCIAL COMMITMENTS

The assets of the company are subject to a legal charge in favour of Clydesdale Bank PLC in relation to a group loan in the name of the parent company, Allumete Limited.
The total amount of other financial commitments not provided in the financial statements was £1,040,588 (2023 - £942,005).

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

IKON ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 06466326)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. ULTIMATE CONTROLLING PARTY

The company's immediate parent is Ikon Aluminium Solutions (Holdings) Limited, incorporated in England & Wales.

The ultimate parent is Allumette Limited, incorporated in England & Wales.

The most senior parent entity producing publicly available financial statements is Allumette Limited.
These financial statements are available upon request from Yardley Brook Industrial Park, Lea Ford
Road, Shard End, Birmingham, B33 9TX.