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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
Page
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Ico Systems Ltd Company Information for the year ended 31 October 2024
Director
G S Rich
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
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Ico Systems Ltd Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
341,750 
348,626 
Current assets
Inventories
1,950 
24,682 
Debtors
130,225 
84,007 
Cash at bank and in hand
519,240 
165,359 
651,415 
274,048 
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 
Capital and reserves
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
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Ico Systems Ltd Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2023
80,366 
At 31 October 2024
80,366 
Amortisation
At 1 November 2023
80,366 
At 31 October 2024
80,366 
Net book value
At 31 October 2024
- 
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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 
Depreciation
At 1 November 2023
- 
66,574 
66,574 
Charge for the year
- 
6,876 
6,876 
At 31 October 2024
- 
73,450 
73,450 
Net book value
At 31 October 2024
325,000 
16,750 
341,750 
At 31 October 2023
325,000 
23,626 
348,626 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
121,330 
70,485 
Other debtors
8,895 
13,522 
130,225 
84,007 
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)
310,362 
(56,923)
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
G S Rich
Loan
417,076 
- 
417,076 
- 
417,076 
- 
417,076 
- 
Loan to director.
9
Average number of employees
During the year the average number of employees was 8 (2023: 8).
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