Company Registration No. 03021255 (England and Wales)
Ico Systems Ltd
Unaudited accounts
for the year ended 31 October 2024
Ico Systems Ltd
Unaudited accounts
Contents
Ico Systems Ltd
Company Information
for the year ended 31 October 2024
Company Number
03021255 (England and Wales)
Registered Office
Harman House
Dunlop Road
Ipswich
Suffolk
IP2 0UG
United Kingdom
Accountants
Aldertons Accountants
Oak House
2 Woodward Close
Ipswich
Suffolk
IP2 0EA
Ico Systems Ltd
Statement of financial position
as at 31 October 2024
Tangible assets
341,750
348,626
Cash at bank and in hand
519,240
165,359
Creditors: amounts falling due within one year
(310,362)
56,923
Net current assets
341,053
330,971
Total assets less current liabilities
682,803
679,597
Provisions for liabilities
Deferred tax
(17,285)
(17,285)
Net assets
665,518
662,312
Called up share capital
100
100
Revaluation reserve
73,686
73,686
Profit and loss account
591,732
588,526
Shareholders' funds
665,518
662,312
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 July 2025 and were signed on its behalf by
G S Rich
Director
Company Registration No. 03021255
Ico Systems Ltd
Notes to the Accounts
for the year ended 31 October 2024
Ico Systems Ltd is a private company, limited by shares, registered in England and Wales, registration number 03021255. The registered office is Harman House, Dunlop Road, Ipswich, Suffolk, IP2 0UG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
Ico Systems Ltd
Notes to the Accounts
for the year ended 31 October 2024
5
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 November 2023
325,000
90,200
415,200
At 31 October 2024
325,000
90,200
415,200
At 1 November 2023
-
66,574
66,574
Charge for the year
-
6,876
6,876
At 31 October 2024
-
73,450
73,450
At 31 October 2024
325,000
16,750
341,750
At 31 October 2023
325,000
23,626
348,626
Amounts falling due within one year
Trade debtors
121,330
70,485
Other debtors
8,895
13,522
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
31,459
57,213
Other creditors
278,903
302,940
Loans from directors
-
(417,076)
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
9
Average number of employees
During the year the average number of employees was 8 (2023: 8).