I C Discounts Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02741447

I C DISCOUNTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 April 2025

I C DISCOUNTS LIMITED

STATEMENT OF FINANCIAL POSITION

30 April 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Tangible assets	6		1,720	36,543

CURRENT ASSETS

Stocks		3,000	12,000
Debtors	7	1,091	4,242
Cash at bank and in hand		8,687	65,348
		--------	--------
		12,778	81,590

CREDITORS: amounts falling due within one year	8	( 23,726)		( 42,601)
		--------		--------
NET CURRENT (LIABILITIES)/ASSETS			( 10,948)	38,989
			--------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES			( 9,228)	75,532
			-------	--------
NET (LIABILITIES)/ASSETS			( 9,228)	75,532
			-------	--------

CAPITAL AND RESERVES

Called up share capital	30	30
Profit and loss account	( 9,258)	75,502
	-------	--------
SHAREHOLDERS (DEFICIT)/FUNDS	( 9,228)	75,532
	-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

I C DISCOUNTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 April 2025

These financial statements were approved by the board of directors and authorised for issue on 5 September 2025 , and are signed on behalf of the board by:

I Wilson

Director

Company registration number: 02741447

I C DISCOUNTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 87 Upper Boundary Road, Derby, England, DE22 3NU.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of goods supplied, exclusive of Value Added Tax.

Income tax

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

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to Nil (2024: 7 ).

5. TAX ON LOSS

Major components of tax income

	2025	2024
	£	£

Deferred tax:

Origination and reversal of timing differences	–	( 794)
	----	----
Tax on loss	–	( 794)
	----	----

6. TANGIBLE ASSETS

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 May 2024	3,179	35,888	39,067
Disposals	–	( 35,888)	( 35,888)
	-------	--------	--------
At 30 April 2025	3,179	–	3,179
	-------	--------	--------
Depreciation
At 1 May 2024	1,029	1,495	2,524
Charge for the year	430	–	430
Disposals	–	( 1,495)	( 1,495)
	-------	--------	--------
At 30 April 2025	1,459	–	1,459
	-------	--------	--------
Carrying amount
At 30 April 2025	1,720	–	1,720
	-------	--------	--------
At 30 April 2024	2,150	34,393	36,543
	-------	--------	--------

7. DEBTORS

	2025	2024
	£	£
Other debtors	1,091	4,242
	-------	-------

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	–	963
Social security and other taxes	–	5,128
Other creditors	23,726	36,510
	--------	--------
	23,726	42,601
	--------	--------