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REGISTERED NUMBER: SC379041 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

ICD CONTRACTING LTD

ICD CONTRACTING LTD (REGISTERED NUMBER: SC379041)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ICD CONTRACTING LTD

COMPANY INFORMATION
For The Year Ended 31 May 2024







DIRECTORS: I Duncan
B G Mcfarlane





REGISTERED OFFICE: R A Clement Associates
5 Argyll Square
OBAN
PA34 4AZ





REGISTERED NUMBER: SC379041 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

ICD CONTRACTING LTD (REGISTERED NUMBER: SC379041)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,400 2,100
Tangible assets 5 671,227 465,904
672,627 468,004

CURRENT ASSETS
Stocks 49,343 18,057
Debtors 6 79,331 95,938
Cash at bank 54,723 190,710
183,397 304,705
CREDITORS
Amounts falling due within one year 7 681,702 458,276
NET CURRENT LIABILITIES (498,305 ) (153,571 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,322

314,433

CREDITORS
Amounts falling due after more than one year 8 (206,821 ) (206,821 )

PROVISIONS FOR LIABILITIES - (9,738 )
NET (LIABILITIES)/ASSETS (32,499 ) 97,874

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (32,599 ) 97,774
SHAREHOLDERS' FUNDS (32,499 ) 97,874

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

ICD CONTRACTING LTD (REGISTERED NUMBER: SC379041)

BALANCE SHEET - continued
31 May 2024


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 6 February 2025 and were signed on its behalf by:





I Duncan - Director


ICD CONTRACTING LTD (REGISTERED NUMBER: SC379041)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2024

1. STATUTORY INFORMATION

ICD Contracting Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Small tools - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.

ICD CONTRACTING LTD (REGISTERED NUMBER: SC379041)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 10,000
AMORTISATION
At 1 June 2023 7,900
Amortisation for year 700
At 31 May 2024 8,600
NET BOOK VALUE
At 31 May 2024 1,400
At 31 May 2023 2,100

5. TANGIBLE FIXED ASSETS
Plant and Small Motor Computer
machinery tools vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 590,768 15,478 94,086 1,430 701,762
Additions 432,567 - 47,112 - 479,679
Disposals (99,908 ) - - - (99,908 )
At 31 May 2024 923,427 15,478 141,198 1,430 1,081,533
DEPRECIATION
At 1 June 2023 186,690 12,809 35,776 583 235,858
Charge for year 147,347 534 26,355 212 174,448
At 31 May 2024 334,037 13,343 62,131 795 410,306
NET BOOK VALUE
At 31 May 2024 589,390 2,135 79,067 635 671,227
At 31 May 2023 404,078 2,669 58,310 847 465,904

ICD CONTRACTING LTD (REGISTERED NUMBER: SC379041)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 79,331 95,938

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 766 -
Hire purchase contracts 227,235 67,821
Payments on account - 11,500
Trade creditors 45,668 127,365
Taxation and social security 34,383 56,744
Other creditors 373,650 194,846
681,702 458,276

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 206,821 206,821