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Company Registration No. 10213228 (England and Wales)
Icefog Limited Unaudited accounts for the year ended 31 December 2024
Icefog Limited Unaudited accounts Contents
Page
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Icefog Limited Company Information for the year ended 31 December 2024
Directors
Arnaud de Canteloube de Marmiés Yuliya Tarasenka
Company Number
10213228 (England and Wales)
Registered Office
10th Floor 240 Blackfriars Road London SE1 8NW UNITED KINGDOM
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Icefog Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investments
506,127 
158,877 
Current assets
Debtors
169,972 
113,609 
Cash at bank and in hand
38,422 
17,151 
208,394 
130,760 
Creditors: amounts falling due within one year
(26,151)
(37,332)
Net current assets
182,243 
93,428 
Net assets
688,370 
252,305 
Capital and reserves
Called up share capital
288 
100 
Share premium
472,942 
- 
Profit and loss account
215,140 
252,205 
Shareholders' funds
688,370 
252,305 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by
Arnaud de Canteloube de Marmiés Director Company Registration No. 10213228
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Icefog Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Icefog Limited is a private company, limited by shares, registered in England and Wales, registration number 10213228. The registered office is 10th Floor, 240 Blackfriars Road, London, SE1 8NW, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments
Investments in subsidiaries are included at cost less impairment. Investments in associates are included at cost less impairment. Financial statements are separate financial statements. Investments in ordinary shares or preference shares of other entities, which are not subsidiaries, are measured at fair value, unless fair value cannot be measured reliably.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Icefog Limited Notes to the Accounts for the year ended 31 December 2024
4
Investments
Subsidiary undertakings 
Other investments 
Total 
£ 
£ 
£ 
Valuation at 1 January 2024
158,840 
37 
158,877 
Additions
- 
473,130 
473,130 
Fair value adjustments
- 
(125,880)
(125,880)
Valuation at 31 December 2024
158,840 
347,287 
506,127 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
29,017 
30,061 
Amounts due from group undertakings etc.
109,485 
83,323 
Deferred tax asset
31,470 
Accrued income and prepayments
- 
225 
169,972 
113,609 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
- 
5,619 
Taxes and social security
25,824 
27,003 
Other creditors
- 
2,644 
Loans from directors
327 
15 
Accruals
- 
2,051 
26,151 
37,332 
7
Deferred taxation
2024 
2023 
£ 
£ 
Other deferred taxation
(31,470)
- 
2024 
2023 
£ 
£ 
Credited to the profit and loss account
(31,470)
- 
Provision at end of year
(31,470)
- 
Deferred tax has been provided in full on timing differences at a tax rate of 25% which is the rate that is expected to apply when the timing differences reverse, based on currently enacted laws. The Company has minority investments in two private companies which are recorded at fair value through profit and loss in the balance sheet. The Deferred Tax Asset has been calculated on revaluation loss of these investments. These DTAs can be used to offset taxable income in future periods and reduce our income taxes payable in those future periods. At this time, we consider it more likely than not that we will have sufficient taxable income in the future that will allow us to realise these DTAs.
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Icefog Limited Notes to the Accounts for the year ended 31 December 2024
8
Pension commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £92 (2023 – £NIL) were due to the fund. They are included in other creditors.
9
Transactions with related parties
Finorama Technology Limited ("Finorama") The company owns 37% of the issued share capital of Finorama. At 31 December 2024 the company was owed £29,449 (2023 - £29,449) from Finorama. A loan is interest free and repayable on demand. A provision for impairement loss of £29,449 was made against this loan. Admio Capital Ltd The company owns 100% of the issued share capital of Admio Capital Ltd. At 31 December 2024 amounts due from group undertaking include an unsecured and interest free loan of £192,841 (2023 - £166,679 ) owed to the company from Admio Ltd. The loan is repayable on demand. A provision for impairement loss of £83,356 was made against this loan in 2023.
10
Post balance sheet events
Dividends The final dividend proposed for the year ended 31 December 2024 is £45,000 (2023: £NIL). This dividend is subject to approval by shareholders at the Annual General Meeting and has not been included as a liability in these financial statements.
11
Average number of employees
During the year the average number of employees was 1 (2023: 0).
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