Registered number
12666547
J&D ICE LIMITED
Unaudited Filleted Accounts
30 June 2024
J&D ICE LIMITED
Registered number: 12666547
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 11,520 12,960
Tangible assets 4 284,842 372,057
296,362 385,017
Current assets
Stocks 5,171 14,794
Debtors 5 372,859 352,118
Cash at bank and in hand 119 1,886
378,149 368,798
Creditors: amounts falling due within one year 6 (359,478) (379,719)
Net current assets/(liabilities) 18,671 (10,921)
Total assets less current liabilities 315,033 374,096
Creditors: amounts falling due after more than one year 7 (68,472) (110,289)
Net assets 246,561 263,807
Capital and reserves
Called up share capital 100 100
Profit and loss account 246,461 263,707
Shareholders' funds 246,561 263,807
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
D J Quevedo
Director
Approved by the board on 28 April 2025
J&D ICE LIMITED
Notes to the Accounts
for the year ended 30 June 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 30 29
3 Intangible fixed assets £
Short term lease:
Cost
At 1 July 2023 14,400
At 30 June 2024 14,400
Amortisation
At 1 July 2023 1,440
Provided during the year 1,440
At 30 June 2024 2,880
Net book value
At 30 June 2024 11,520
At 30 June 2023 12,960
Short term lease is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 251,066 208,891 459,957
Additions 6,407 - 6,407
At 30 June 2024 257,473 208,891 466,364
Depreciation
At 1 July 2023 47,170 40,730 87,900
Charge for the year 51,582 42,040 93,622
At 30 June 2024 98,752 82,770 181,522
Net book value
At 30 June 2024 158,721 126,121 284,842
At 30 June 2023 203,896 168,161 372,057
5 Debtors 2024 2023
£ £
Trade debtors 219,650 267,231
Other debtors- deposits & prepayments 153,209 84,887
372,859 352,118
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 44,963 7,374
Obligations under finance lease and hire purchase contracts 49,104 49,104
Trade creditors 232,244 249,154
Taxation and social security costs 22,196 59,874
Other creditors 10,971 14,213
359,478 379,719
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 26,972 65,289
Other creditors - Director Loan to Company 41,500 45,000
68,472 110,289
8 Loans from Directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D J Quevedo
Loan 1 45,000 - (3,500) 41,500
45,000 - (3,500) 41,500
9 Other information
J&D ICE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 129 Distribution Block A
New Covent Garden Market
London
SW8 5EN
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