2024-04-012025-03-312025-03-31false00516120ICOL 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ICOL LIMITED

Registered Number
00516120
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

ICOL LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

HEMSTOCK, Ian
LEE, Philippa
PARKES, Neal Richard Quine, Dr
SANCHA, Tamsin Cara

Registered Address

Tower House
Lucy Tower Street
Lincoln
LN1 1XW

Registered Number

00516120 (England and Wales)
ICOL LIMITED
Statement of Financial Position
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets4-1
Investment property53,136,3103,136,310
3,136,3103,136,311
Current assets
Debtors21,81520,473
Cash at bank and on hand8,83318,381
30,64838,854
Creditors amounts falling due within one year6(8,499)(11,738)
Net current assets (liabilities)22,14927,116
Total assets less current liabilities3,158,4593,163,427
Provisions for liabilities7(352,000)(352,000)
Net assets2,806,4592,811,427
Capital and reserves
Called up share capital42,00042,000
Share premium4,0004,000
Profit and loss account2,760,4592,765,427
Shareholders' funds2,806,4592,811,427
The financial statements were approved and authorised for issue by the Board of Directors on 8 June 2025, and are signed on its behalf by:
LEE, Philippa
Director
Registered Company No. 00516120
ICOL LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, LN1 1XW.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: (i) Depreciation charges The annual depreciation charge for tangible assets is sensitive to changes in the useful economic lives and residual values of the assets. These are reviewed periodically by the directors to ensure that they reflect both external and internal factors. (ii) Asset valuation The value included for the tangible fixed assets is based on an annual valuation undertaken by the directors.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.Average number of employees

20252024
Average number of employees during the year44
3.Impairment of intangible assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 April 24752752
At 31 March 25752752
Depreciation and impairment
At 01 April 24751751
Charge for year11
At 31 March 25752752
Net book value
At 31 March 25--
At 31 March 2411
5.Investment property
(a) the effective date of the valuation is 31 March 2024 and the basis adopted was fair value; (b) the directors are confident with the fair value; an independent valuer holding a recognised and relevant qualification and having recent experience in similar investment properties was not involved; (c) the property was valued at a market value discounted to reflect it being tenanted and no significant assumptions were applied in determining the fair values.

£
Fair value at 01 April 243,136,310
At 31 March 253,136,310
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables2,8142,984
Taxation and social security7104,461
Accrued liabilities and deferred income4,9754,293
Total8,49911,738
7.Provisions for liabilities
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

2025

2024

££
Net deferred tax liability (asset)352,000352,000
Total352,000352,000