Registered number
07815999
ICABLEUK LTD
Filleted Accounts
31 October 2024
CLH Accounting
Masons Business Centre
159a Wellgate
Rotherham
S60 2NN
ICABLEUK LTD
Registered number: 07815999
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 254,000 250,922
Current assets
Stocks 1,532 2,506
Debtors 4 138,023 181,939
Cash at bank and in hand 492,640 452,898
632,195 637,343
Creditors: amounts falling due within one year 5 (128,011) (159,814)
Net current assets 504,184 477,529
Total assets less current liabilities 758,184 728,451
Provisions for liabilities (40,324) (38,910)
Net assets 717,860 689,541
Capital and reserves
Called up share capital 60 60
Profit and loss account 717,800 689,481
Shareholder's funds 717,860 689,541
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr I A Booth
Director
Approved by the board on 17 February 2025
ICABLEUK LTD
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% straight line
Motor vehicles 25% reducing balance
Plant, machinery and office equipment 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 113,424 79,758 306,880 500,062
Additions - 7,570 89,745 97,315
Disposals - (389) (103,147) (103,536)
At 31 October 2024 113,424 86,939 293,478 493,841
Depreciation
At 1 November 2023 18,144 63,934 167,062 249,140
Charge for the year 2,268 7,863 48,529 58,660
On disposals - (261) (67,698) (67,959)
At 31 October 2024 20,412 71,536 147,893 239,841
Net book value
At 31 October 2024 93,012 15,403 145,585 254,000
At 31 October 2023 95,280 15,824 139,818 250,922
4 Debtors 2024 2023
£ £
Trade debtors 126,318 157,471
Other debtors 11,705 24,468
138,023 181,939
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 35,025 29,881
Taxation and social security costs 79,510 116,924
Other creditors 13,476 13,009
128,011 159,814
6 Controlling party
The company is wholly controlled by Mr I A Booth, who is the only shareholder.
7 Other information
ICABLEUK LTD is a private company limited by shares and incorporated in England. Its registered office is:
33 Long Acre Close
Holbrook
Sheffield
S20 3FR
ICABLEUK LTD 07815999 false 2023-11-01 2024-10-31 2024-10-31 VT Final Accounts July 2024 Mr I A Booth No description of principal activity 07815999 2022-11-01 2023-10-31 07815999 core:WithinOneYear 2023-10-31 07815999 core:ShareCapital 2023-10-31 07815999 core:RetainedEarningsAccumulatedLosses 2023-10-31 07815999 2023-11-01 2024-10-31 07815999 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 07815999 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 07815999 bus:Director40 2023-11-01 2024-10-31 07815999 1 2023-11-01 2024-10-31 07815999 2 2023-11-01 2024-10-31 07815999 core:LandBuildings 2023-11-01 2024-10-31 07815999 core:PlantMachinery 2023-11-01 2024-10-31 07815999 core:Vehicles 2023-11-01 2024-10-31 07815999 countries:England 2023-11-01 2024-10-31 07815999 bus:FRS102 2023-11-01 2024-10-31 07815999 bus:FilletedAccounts 2023-11-01 2024-10-31 07815999 2024-10-31 07815999 core:WithinOneYear 2024-10-31 07815999 core:ShareCapital 2024-10-31 07815999 core:RetainedEarningsAccumulatedLosses 2024-10-31 07815999 core:LandBuildings 2024-10-31 07815999 core:PlantMachinery 2024-10-31 07815999 core:Vehicles 2024-10-31 07815999 2023-10-31 07815999 core:LandBuildings 2023-10-31 07815999 core:PlantMachinery 2023-10-31 07815999 core:Vehicles 2023-10-31 iso4217:GBP xbrli:pure