| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 December 2024 |
| for |
| Ice Comms Properties Ltd |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 December 2024 |
| for |
| Ice Comms Properties Ltd |
| Ice Comms Properties Ltd (Registered number: 12814826) |
| Contents of the Financial Statements |
| for the year ended 30 December 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Ice Comms Properties Ltd |
| Company Information |
| for the year ended 30 December 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Datum House |
| Electra Way |
| Crewe |
| Cheshire |
| CW1 6ZF |
| Ice Comms Properties Ltd (Registered number: 12814826) |
| Statement of Financial Position |
| 30 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Ice Comms Properties Ltd (Registered number: 12814826) |
| Notes to the Financial Statements |
| for the year ended 30 December 2024 |
| 1. | STATUTORY INFORMATION |
| Ice Comms Properties Ltd ('The Company') is primarily engaged in the development and rental of property. |
| The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business is Crewe House, Oak Street, Crewe, Cheshire, CW2 7DB, which is also the registered office. The registered number can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The principal accounting policies applied in the preparation of these financial statements are set out below. |
| These policies have been consistently applied to all periods presented, unless otherwise stated. |
| Basis of preparation |
| The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006. |
| Going concern |
| These financial statements have been prepared on a going concern basis as at the time of approving the accounts the directors have a reasonable expectation of the company and the group having adequate resources to continue in operational existence for the foreseeable future, In 2021, the company made a substantial investment in the freehold commercial property and then undertook a prolonged period of renovations to bring the premises up to date. At the time of this report, the property is fully let and having considered the principal risks and uncertainties, the directors believe that there are no material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern. |
| The directors therefore consider it appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Revenue recognition |
| Revenue represents income from rent, excluding value added tax. Rents are recognised on a straight line basis over the period of the lease or to the date of the first rent review. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Investment property |
| Investment property is shown at fair value, the fair value is reviewed annually by the directors. Any aggregate surplus or deficit arising from changes in the fair value in the year is recognised in the profit or loss within the Statement of Comprehensive Income. |
| Ice Comms Properties Ltd (Registered number: 12814826) |
| Notes to the Financial Statements - continued |
| for the year ended 30 December 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Impairment of assets |
| Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| Ice Comms Properties Ltd (Registered number: 12814826) |
| Notes to the Financial Statements - continued |
| for the year ended 30 December 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 31 December 2023 |
| and 30 December 2024 |
| DEPRECIATION |
| At 31 December 2023 |
| Charge for year |
| At 30 December 2024 |
| NET BOOK VALUE |
| At 30 December 2024 |
| At 30 December 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 31 December 2023 |
| and 30 December 2024 |
| NET BOOK VALUE |
| At 30 December 2024 |
| At 30 December 2023 |
| If the investment property had not been revalued it would have been included at the historical cost of £950,137. |
| 7. | DEBTORS |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| Ice Comms Properties Ltd (Registered number: 12814826) |
| Notes to the Financial Statements - continued |
| for the year ended 30 December 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts (see note 10) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans (see note 10) |
| Amounts owed to group undertakings |
| Other creditors |
| 10. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Interest bearing loans - group | 144,000 | 45,000 |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Interest bearing loans - group | 58,554 | 22,500 |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Interest bearing loans - group | - | 226,088 |
| Loans from group companies are unsecured and are repayable on demand. Interest has been charged at a rate of 5%. |
| Ice Comms Properties Ltd (Registered number: 12814826) |
| Notes to the Financial Statements - continued |
| for the year ended 30 December 2024 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| The loan is secured by a fixed and floating charge over the whole of the property and assets of the company. |
| 12. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 273,826 | 275,435 |
| Deferred |
| tax |
| £ |
| Balance at 31 December 2023 |
| Provided during year | ( |
) |
| Balance at 30 December 2024 |
| 13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 December 2024 and 30 December 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Ice Comms Properties Ltd (Registered number: 12814826) |
| Notes to the Financial Statements - continued |
| for the year ended 30 December 2024 |
| 14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest has been charged on advances to directors at 2.25% |
| 15. | ULTIMATE CONTROLLING PARTY |
| The names of the ultimate controlling parties are Mr J S Ward, Mr S W Bonell and Mr J A Taylor. |
| 16. | NON-DISTRIBUTABLE RESERVES |
| Included within retained earnings is an amount of £1,049,863 which is not available for distribution. |