Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Jason Alan Elder 02/06/2020 Gregory Alan Molter 02/06/2020 Dean John White 29/01/2002 29 May 2025 The principal activity of the Company during the financial year was the manufacture of fabricated metal products. 04362802 2024-12-31 04362802 bus:Director1 2024-12-31 04362802 bus:Director2 2024-12-31 04362802 bus:Director3 2024-12-31 04362802 2023-12-31 04362802 core:CurrentFinancialInstruments 2024-12-31 04362802 core:CurrentFinancialInstruments 2023-12-31 04362802 core:Non-currentFinancialInstruments 2024-12-31 04362802 core:Non-currentFinancialInstruments 2023-12-31 04362802 core:ShareCapital 2024-12-31 04362802 core:ShareCapital 2023-12-31 04362802 core:RetainedEarningsAccumulatedLosses 2024-12-31 04362802 core:RetainedEarningsAccumulatedLosses 2023-12-31 04362802 core:LeaseholdImprovements 2023-12-31 04362802 core:PlantMachinery 2023-12-31 04362802 core:FurnitureFittings 2023-12-31 04362802 core:ToolsEquipment 2023-12-31 04362802 core:LeaseholdImprovements 2024-12-31 04362802 core:PlantMachinery 2024-12-31 04362802 core:FurnitureFittings 2024-12-31 04362802 core:ToolsEquipment 2024-12-31 04362802 bus:OrdinaryShareClass1 2024-12-31 04362802 bus:OrdinaryShareClass2 2024-12-31 04362802 bus:OrdinaryShareClass3 2024-12-31 04362802 core:WithinOneYear 2024-12-31 04362802 core:WithinOneYear 2023-12-31 04362802 core:BetweenOneFiveYears 2024-12-31 04362802 core:BetweenOneFiveYears 2023-12-31 04362802 2024-01-01 2024-12-31 04362802 bus:FilletedAccounts 2024-01-01 2024-12-31 04362802 bus:SmallEntities 2024-01-01 2024-12-31 04362802 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04362802 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04362802 bus:Director1 2024-01-01 2024-12-31 04362802 bus:Director2 2024-01-01 2024-12-31 04362802 bus:Director3 2024-01-01 2024-12-31 04362802 core:LeaseholdImprovements core:TopRangeValue 2024-01-01 2024-12-31 04362802 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 04362802 core:FurnitureFittings core:TopRangeValue 2024-01-01 2024-12-31 04362802 core:ToolsEquipment core:TopRangeValue 2024-01-01 2024-12-31 04362802 2023-01-01 2023-12-31 04362802 core:LeaseholdImprovements 2024-01-01 2024-12-31 04362802 core:PlantMachinery 2024-01-01 2024-12-31 04362802 core:FurnitureFittings 2024-01-01 2024-12-31 04362802 core:ToolsEquipment 2024-01-01 2024-12-31 04362802 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 04362802 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 04362802 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 04362802 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04362802 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 04362802 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 04362802 bus:OrdinaryShareClass3 2024-01-01 2024-12-31 04362802 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04362802 (England and Wales)

I.C.P.M.S. CONES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

I.C.P.M.S. CONES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

I.C.P.M.S. CONES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
I.C.P.M.S. CONES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 880,402 957,228
880,402 957,228
Current assets
Stocks 354,931 305,360
Debtors 4 921,549 393,826
Cash at bank and in hand 544,305 374,508
1,820,785 1,073,694
Creditors: amounts falling due within one year 5 ( 2,123,793) ( 125,309)
Net current (liabilities)/assets (303,008) 948,385
Total assets less current liabilities 577,394 1,905,613
Creditors: amounts falling due after more than one year 6 ( 227,942) ( 250,612)
Provision for liabilities ( 201,317) ( 219,598)
Net assets 148,135 1,435,403
Capital and reserves
Called-up share capital 7 3,000 3,000
Profit and loss account 145,135 1,432,403
Total shareholders' funds 148,135 1,435,403

For the financial 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.

Directors' responsibilities:

The financial statements of I.C.P.M.S. Cones Limited (registered number: 04362802) were approved and authorised for issue by the Board of Directors on 29 May 2025. They were signed on its behalf by:

Gregory Alan Molter
Director
I.C.P.M.S. CONES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
I.C.P.M.S. CONES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

I.C.P.M.S. Cones Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1 - 3, Tarvin Sands Industries Barrow Lane, Tarvin, Chester, CH3 8JF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 10 years straight line
Fixtures and fittings 4 years straight line
Tools and equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 19

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Tools and equipment Total
£ £ £ £ £
Cost
At 01 January 2024 124,527 1,465,868 13,519 15,552 1,619,466
Additions 0 85,995 0 583 86,578
Disposals 0 ( 69,949) 0 0 ( 69,949)
At 31 December 2024 124,527 1,481,914 13,519 16,135 1,636,095
Accumulated depreciation
At 01 January 2024 22,515 622,788 7,446 9,489 662,238
Charge for the financial year 12,453 140,666 3,382 3,170 159,671
Disposals 0 ( 66,216) 0 0 ( 66,216)
At 31 December 2024 34,968 697,238 10,828 12,659 755,693
Net book value
At 31 December 2024 89,559 784,676 2,691 3,476 880,402
At 31 December 2023 102,012 843,080 6,073 6,063 957,228

4. Debtors

2024 2023
£ £
Trade debtors 730,123 253,013
Prepayments 8,946 9,258
VAT recoverable 62,847 7,180
Corporation tax 86,613 91,555
Other debtors 33,020 32,820
921,549 393,826

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 65,705 19,587
Amounts owed to Group undertakings 1,704,684 0
Accruals 3,144 12,000
Taxation and social security 255,811 18,290
Obligations under finance leases and hire purchase contracts 94,449 74,876
Other creditors 0 556
2,123,793 125,309

There are no amounts included above in respect of which any security has been given by the small entity.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 227,942 250,612

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2,400 A ordinary shares of £ 1.00 each 2,400 2,400
300 B ordinary shares of £ 1.00 each 300 300
300 C ordinary shares of £ 1.00 each 300 300
3,000 3,000

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 30,410 30,410
between one and five years 44,688 75,098
75,098 105,508

9. Related party transactions

Other related party transactions

During the accounting period, dividends voted but not paid to a group company (Conifer Interco Limited) were novated as part of a group restructuring to be owed to a different entity within the overall group (Alpha Resources LLC).

10. Ultimate controlling party

Parent Company:

AAG UK Incorporated
Corporation Trust Center
1209 Orange St
Wilmington
New Castle
Delaware
19801