Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-302025-05-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseThe principal activity of the company during the year is that of a wholesaler of food and packaging items.2420falsetruefalse 04675816 2023-04-01 2024-09-30 04675816 2022-04-01 2023-03-31 04675816 2024-09-30 04675816 2023-03-31 04675816 c:Director1 2023-04-01 2024-09-30 04675816 d:Buildings 2023-04-01 2024-09-30 04675816 d:Buildings 2024-09-30 04675816 d:Buildings 2023-03-31 04675816 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-09-30 04675816 d:PlantMachinery 2023-04-01 2024-09-30 04675816 d:PlantMachinery 2024-09-30 04675816 d:PlantMachinery 2023-03-31 04675816 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-09-30 04675816 d:MotorVehicles 2023-04-01 2024-09-30 04675816 d:MotorVehicles 2024-09-30 04675816 d:MotorVehicles 2023-03-31 04675816 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-09-30 04675816 d:FurnitureFittings 2023-04-01 2024-09-30 04675816 d:FurnitureFittings 2024-09-30 04675816 d:FurnitureFittings 2023-03-31 04675816 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-09-30 04675816 d:ComputerEquipment 2023-04-01 2024-09-30 04675816 d:ComputerEquipment 2024-09-30 04675816 d:ComputerEquipment 2023-03-31 04675816 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-09-30 04675816 d:OwnedOrFreeholdAssets 2023-04-01 2024-09-30 04675816 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-09-30 04675816 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-09-30 04675816 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 04675816 d:CurrentFinancialInstruments 2024-09-30 04675816 d:CurrentFinancialInstruments 2023-03-31 04675816 d:Non-currentFinancialInstruments 2024-09-30 04675816 d:Non-currentFinancialInstruments 2023-03-31 04675816 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 04675816 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04675816 d:ShareCapital 2024-09-30 04675816 d:ShareCapital 2023-03-31 04675816 d:RetainedEarningsAccumulatedLosses 2024-09-30 04675816 d:RetainedEarningsAccumulatedLosses 2023-03-31 04675816 c:FRS102 2023-04-01 2024-09-30 04675816 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-09-30 04675816 c:FullAccounts 2023-04-01 2024-09-30 04675816 c:PrivateLimitedCompanyLtd 2023-04-01 2024-09-30 04675816 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-09-30 04675816 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-04-01 2024-09-30 04675816 e:PoundSterling 2023-04-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 04675816










ICONE INTERNATIONAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

 
ICONE INTERNATIONAL LIMITED
REGISTERED NUMBER: 04675816

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
17,563
-

Tangible assets
 5 
88,790
98,478

  
106,353
98,478

Current assets
  

Stocks
  
492,526
382,573

Debtors: amounts falling due after more than one year
 6 
333,216
-

Debtors: amounts falling due within one year
 6 
1,477,332
1,245,370

Cash at bank and in hand
  
3,373,853
3,345,918

  
5,676,927
4,973,861

Creditors: amounts falling due within one year
 7 
(2,830,926)
(1,482,551)

Net current assets
  
 
 
2,846,001
 
 
3,491,310

Total assets less current liabilities
  
2,952,354
3,589,788

  

Net assets
  
2,952,354
3,589,788


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,952,254
3,589,688

  
2,952,354
3,589,788


Page 1

 
ICONE INTERNATIONAL LIMITED
REGISTERED NUMBER: 04675816
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr H S Shah
Director

Date: 1 May 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
ICONE INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.


General information

Icone International Limited is a private company, limited by shares, registered in England and Wales, company registration number 04675816. The registered office address is 6th Floor, 2 London Wall Place, London, EC2Y 5AU.
The financial statements presented cover an extended accounting period from 1 April 2023 to 30 September 2024. This change was implemented to better align the company’s financial year-end with its operational cycle and strategic planning processes. The extended period allows for a more accurate reflection of the company’s financial performance and position.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The financial statements are prepared in £ sterling, the functional currency, rounded to the nearest £1.
The financial statements are prepared for the 18 month period 1 April 2023 to 30 September 2024. The financial statements to 31 March 2023 are for a period of 12 months and are therefore not entirely comparable.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
ICONE INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Website and development costs
-
amortised over their estimated useful life of 5 years straight line

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Improvements to leasehold property
-
10% reducing balance
Plant and machinery
-
25% reducing balance
Motor vehicles
-
20% reducing balance
Fixtures and fittings and equipment
-
50% reducing balance
Computer equipment
-
33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and financial liabilities such as trade debtors, other debtors and creditors, loans from banks and other third parties, loans to related parties, and investments in ordinary shares.

Page 4

 
ICONE INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

  
2.8

Stock

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proporation of fixed and variable overheads.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
ICONE INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 24 (2023 - 20).

Page 6

 
ICONE INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

4.


Intangible assets






Website development costs

£



Cost


At 1 April 2023
14,000


Additions
20,254



At 30 September 2024

34,254



Amortisation


At 1 April 2023
14,000


Charge for the period
2,691



At 30 September 2024

16,691



Net book value



At 30 September 2024
17,563



At 31 March 2023
-



Page 7
 


 
ICONE INTERNATIONAL LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024


5.


Tangible fixed assets









Leasehold property improvements
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
64,703
13,955
95,829
117,348
21,742
313,577


Additions
12,820
2,639
-
3,245
8,089
26,793



At 30 September 2024

77,523
16,594
95,829
120,593
29,831
340,370



Depreciation


At 1 April 2023
31,481
11,671
46,766
112,718
12,464
215,100


Charge for the period
6,555
2,619
14,719
4,919
7,668
36,480



At 30 September 2024

38,036
14,290
61,485
117,637
20,132
251,580



Net book value



At 30 September 2024
39,487
2,304
34,344
2,956
9,699
88,790



At 31 March 2023
33,222
2,284
49,063
4,631
9,278
98,478

Page 8
 
ICONE INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

6.


Debtors

30 September
31 March
2024
2023
£
£

Due after more than one year

Trade debtors
333,216
-

333,216
-


30 September
31 March
2024
2023
£
£

Due within one year

Trade debtors
1,275,761
606,837

Amounts owed by group undertakings
-
261,000

Other debtors
110,597
282,412

Prepayments and accrued income
90,974
95,121

1,477,332
1,245,370



7.


Creditors: Amounts falling due within one year

30 September
31 March
2024
2023
£
£

Trade creditors
1,999,359
1,201,218

Amounts owed to group undertakings
440,969
-

Corporation tax
282,584
128,978

Other taxation and social security
40,948
103,488

Other creditors
50,883
41,991

Accruals and deferred income
16,183
6,876

2,830,926
1,482,551



8.


Related party transactions

The company has taken advantage of the exemption available in Financial Reporting Standard 102 Section 33 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

Page 9

 
ICONE INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

9.


Transactions with directors

At the balance sheet date, an amount of £19,221 (2023: £15,786) was due to Mr H S Shah. The loan is unsecured and repayable on demand.

10.


Controlling party

The company is controlled by Mr H S Shah by virtue of his majority shareholding throughout the year and the previous year.

 
Page 10