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REGISTERED NUMBER: 12814826 (England and Wales)












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: J S Ward
S W Bonell
J A Taylor



REGISTERED OFFICE: Crewe House
4 Oak Street
Crewe
Cheshire
CW2 7DB



REGISTERED NUMBER: 12814826 (England and Wales)



SENIOR STATUTORY AUDITOR: Stuart Banks BSc, FCA



AUDITORS: Banks Sheridan (Statutory Auditor)
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 80,119 120,299
Investment property 6 2,000,000 2,000,000
2,080,119 2,120,299

CURRENT ASSETS
Debtors 7 188,512 33,067
Cash at bank 19,394 10,460
207,906 43,527
CREDITORS
Amounts falling due within one year 8 (304,040 ) (153,748 )
NET CURRENT LIABILITIES (96,134 ) (110,221 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,983,985

2,010,078

CREDITORS
Amounts falling due after more than one year 9 (740,639 ) (862,355 )

PROVISIONS FOR LIABILITIES 12 (273,826 ) (275,435 )
NET ASSETS 969,520 872,288

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 969,420 872,188
969,520 872,288

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2025 and were signed on its behalf by:





J S Ward - Director


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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

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 16,672 173,620 15,750 206,042
DEPRECIATION
At 31 December 2023 8,939 69,544 7,260 85,743
Charge for year 3,334 34,724 2,122 40,180
At 30 December 2024 12,273 104,268 9,382 125,923
NET BOOK VALUE
At 30 December 2024 4,399 69,352 6,368 80,119
At 30 December 2023 7,733 104,076 8,490 120,299

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 December 2023
and 30 December 2024 2,000,000
NET BOOK VALUE
At 30 December 2024 2,000,000
At 30 December 2023 2,000,000

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 4,500 -
Other debtors 8,067 33,067
12,567 33,067

Amounts falling due after more than one year:
Other debtors 175,945 -

Aggregate amounts 188,512 33,067

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) 65,443 62,975
Trade creditors 3,684 1,926
Taxation and social security 74,616 28,059
Other creditors 160,297 60,788
304,040 153,748

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 380,283 445,726
Amounts owed to group undertakings 288,302 154,541
Other creditors 72,054 262,088
740,639 862,355

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 65,443 62,975
Interest bearing loans - group 144,000 45,000
209,443 107,975

Amounts falling due between one and two years:
Bank loans - 1-2 years 380,283 65,443
Interest bearing loans - group 58,554 22,500
438,837 87,943

Amounts falling due between two and five years:
Bank loans - 2-5 years - 380,283
Interest bearing loans - group - 226,088
- 606,371

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 445,726 508,701

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 275,435
Provided during year (1,609 )
Balance at 30 December 2024 273,826

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stuart Banks BSc, FCA (Senior Statutory Auditor)
for and on behalf of Banks Sheridan (Statutory Auditor)

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
£    £   
J A Taylor
Balance outstanding at start of year - -
Amounts advanced 32,887 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,887 -

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

J S Ward
Balance outstanding at start of year - -
Amounts advanced 49,330 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,330 -

S W Bonell
Balance outstanding at start of year - -
Amounts advanced 49,330 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,330 -

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.