REGISTERED NUMBER: 08061712 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Icon Classic Car (Hire And Sales) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Sinclair

A K Sinclair Ayala

REGISTERED OFFICE:

21 Church Road

Parkstone

Poole

Dorset

BH14 8UF

REGISTERED NUMBER:

08061712 (England and Wales)

ACCOUNTANT:

Richard Allen & Associates

21 Church Road

Parkstone

Poole

Dorset

BH14 8UF

FIXED ASSETS

Tangible assets

4

229,116

241,712

CURRENT ASSETS

Debtors

5

2,610

2,151

Cash at bank

435

429

3,045

2,580

CREDITORS

Amounts falling due within one year

6

4,918

7,778

NET CURRENT LIABILITIES

(1,873

)

(5,198

)

TOTAL ASSETS LESS CURRENT LIABILITIES

227,243

236,514

CREDITORS

Amounts falling due after more than one year

7

590,413

573,363

NET LIABILITIES

(363,170

)

(336,849

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(363,270

)

(336,949

)

SHAREHOLDERS' FUNDS

(363,170

)

(336,849

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by:

K Sinclair - Director

1.	STATUTORY INFORMATION

Icon Classic Car (Hire And Sales) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc

-

33% on cost, 25% on reducing balance, 15% on reducing balance and Not provided

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Classic cars

Classic cars are shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST OR VALUATION

At 1 March 2024

248,881

Disposals

(12,244

)

At 28 February 2025

236,637

DEPRECIATION

At 1 March 2024

7,169

Charge for year

352

At 28 February 2025

7,521

NET BOOK VALUE

At 28 February 2025

229,116

At 29 February 2024

241,712

Cost or valuation at 28 February 2025 is represented by:

Plant and

machinery

etc

£

Valuation in 2013

(4,313

)

Valuation in 2014

10,850

Valuation in 2015

809

Valuation in 2016

5,577

Valuation in 2017

996

Valuation in 2019

4,500

Valuation in 2020

(2,500

)

Valuation in 2021

6,649

Cost

225,319

247,887

If the Classic cars had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

124,122

124,122

Classic cars were valued on an open market basis on 29 February 2024 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

2,610

2,151

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

1,750

2,750

Trade creditors

21

-

Other creditors

3,147

5,028

4,918

7,778

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

590,413

573,363