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REGISTERED NUMBER: SC445668 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Iconic Kitchens & Bathrooms Limited

Iconic Kitchens & Bathrooms Limited (Registered number: SC445668)






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




Page

Company Information 1

Report of the Director 2

Income Statement 3

Statement of Financial Position 4

Notes to the Financial Statements 6


Iconic Kitchens & Bathrooms Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: G Lang





SECRETARY:





REGISTERED OFFICE: 56 Lindsay Road
Glasgow
G74 4JA





REGISTERED NUMBER: SC445668 (Scotland)






Iconic Kitchens & Bathrooms Limited (Registered number: SC445668)

Report of the Director
for the Year Ended 31 March 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of kitchen designers

DIRECTOR
G Lang held office during the whole of the period from 1 April 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





G Lang - Director


26 December 2024

Iconic Kitchens & Bathrooms Limited (Registered number: SC445668)

Income Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   

TURNOVER 178,369 195,003

Cost of sales 135,380 178,803
GROSS PROFIT 42,989 16,200

Distribution costs 17,125 -
Administrative expenses 16,278 19,302
33,403 19,302
9,586 (3,102 )

Interest receivable and similar income 145 -
9,731 (3,102 )

Interest payable and similar expenses 277 -
PROFIT/(LOSS) BEFORE TAXATION 4 9,454 (3,102 )

Tax on profit/(loss) - -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

9,454

(3,102

)

Iconic Kitchens & Bathrooms Limited (Registered number: SC445668)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,925 5,433

CURRENT ASSETS
Stocks - 8,754
Debtors 6 46,382 20,020
Cash at bank 17,564 10,985
63,946 39,759
CREDITORS
Amounts falling due within one year 7 65,789 45,466
NET CURRENT LIABILITIES (1,843 ) (5,707 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,082

(274

)

CREDITORS
Amounts falling due after more than one year 8 5,605 12,703
NET LIABILITIES (3,523 ) (12,977 )

RESERVES
Retained earnings (3,523 ) (12,977 )
(3,523 ) (12,977 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Iconic Kitchens & Bathrooms Limited (Registered number: SC445668)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 26 December 2024 and were signed by:





G Lang - Director


Iconic Kitchens & Bathrooms Limited (Registered number: SC445668)

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

1. STATUTORY INFORMATION

Iconic Kitchens & Bathrooms Limited is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 NIL (2023 - 1 ).

Iconic Kitchens & Bathrooms Limited (Registered number: SC445668)

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

4. PROFIT/(LOSS) BEFORE TAXATION

The profit (2023 - loss) is stated after charging:

31.3.24 31.3.23
£    £   
Depreciation - owned assets 1,508 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 14,255
DEPRECIATION
At 1 April 2023 8,822
Charge for year 1,508
At 31 March 2024 10,330
NET BOOK VALUE
At 31 March 2024 3,925
At 31 March 2023 5,433

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 17,580 20,020
Other debtors 28,802 -
46,382 20,020

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 1,529 2,311
Trade creditors 74,061 48,685
Taxation and social security (1,621 ) (5,530 )
Other creditors (8,180 ) -
65,789 45,466

Iconic Kitchens & Bathrooms Limited (Registered number: SC445668)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 5,605 12,703