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REGISTERED NUMBER: 02414996 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Ivic Limited

Ivic Limited (Registered number: 02414996)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ivic Limited

Company Information
for the year ended 31 August 2024







DIRECTORS: T V Bell
I K Bell
S Hamilton



REGISTERED OFFICE: 4 Winchester Drive
South West Industrial Estate
Peterlee
County Durham
SR8 2RJ



REGISTERED NUMBER: 02414996 (England and Wales)



ACCOUNTANTS: TTR Barnes
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG



BANKERS: Barclays Bank plc
49 High Street
Stockton
Cleveland
TS18 1AH

Ivic Limited (Registered number: 02414996)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 45,628 53,813

CURRENT ASSETS
Stocks 95,201 118,037
Debtors 5 165,288 206,506
Cash at bank and in hand 509,269 320,005
769,758 644,548
CREDITORS
Amounts falling due within one year 6 235,127 166,988
NET CURRENT ASSETS 534,631 477,560
TOTAL ASSETS LESS CURRENT
LIABILITIES

580,259

531,373

CREDITORS
Amounts falling due after more than one
year

7

(10,833

)

(20,833

)

PROVISIONS FOR LIABILITIES (11,056 ) (10,224 )
NET ASSETS 558,370 500,316

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 558,280 500,226
SHAREHOLDERS' FUNDS 558,370 500,316

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

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

Ivic Limited (Registered number: 02414996)

Statement of Financial Position - continued
31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





T V Bell - Director


Ivic Limited (Registered number: 02414996)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

Ivic Limited is a private company, limited by shares , registered in England and Wales. 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.

The accounts have been prepared on the going concern basis which assumes the company will continue in operational existence for the foreseeable future, which the directors consider appropriate.

Turnover
Turnover represents sales of goods and services, excluding value added tax.

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 - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Ivic Limited (Registered number: 02414996)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 34,698 36,317 65,990 16,621 153,626
Additions - 1,177 - 3,805 4,982
Disposals (6,849 ) (7,468 ) - (2,434 ) (16,751 )
At 31 August 2024 27,849 30,026 65,990 17,992 141,857
DEPRECIATION
At 1 September 2023 23,619 23,231 41,057 11,906 99,813
Charge for year 1,417 1,177 6,233 2,293 11,120
Eliminated on disposal (6,250 ) (6,063 ) - (2,391 ) (14,704 )
At 31 August 2024 18,786 18,345 47,290 11,808 96,229
NET BOOK VALUE
At 31 August 2024 9,063 11,681 18,700 6,184 45,628
At 31 August 2023 11,079 13,086 24,933 4,715 53,813

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 128,540 165,527
Other debtors 36,748 40,979
165,288 206,506

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 24,383 11,395
Taxation and social security 65,122 22,231
Other creditors 135,622 123,362
235,127 166,988

Ivic Limited (Registered number: 02414996)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,833 20,833