IRIS Accounts Production v25.2.0.378 02721051 Board of Directors 1.1.24 31.12.24 31.12.24 16.9.2025 true false true false false false true false Auditors Opinion iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 02721051 2023-12-31 02721051 2024-12-31 02721051 2024-01-01 2024-12-31 02721051 2022-12-31 02721051 2023-01-01 2023-12-31 02721051 2023-12-31 02721051 ns15:EnglandWales 2024-01-01 2024-12-31 02721051 ns14:PoundSterling 2024-01-01 2024-12-31 02721051 ns10:Director1 2024-01-01 2024-12-31 02721051 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02721051 ns10:SmallEntities 2024-01-01 2024-12-31 02721051 ns10:Audited 2024-01-01 2024-12-31 02721051 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 02721051 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02721051 ns10:FullAccounts 2024-01-01 2024-12-31 02721051 1 2024-01-01 2024-12-31 02721051 ns10:Director2 2024-01-01 2024-12-31 02721051 ns10:Director3 2024-01-01 2024-12-31 02721051 ns10:Director4 2024-01-01 2024-12-31 02721051 ns10:RegisteredOffice 2024-01-01 2024-12-31 02721051 ns5:CurrentFinancialInstruments 2024-12-31 02721051 ns5:CurrentFinancialInstruments 2023-12-31 02721051 ns5:Non-currentFinancialInstruments 2024-12-31 02721051 ns5:Non-currentFinancialInstruments 2023-12-31 02721051 ns5:ShareCapital 2024-12-31 02721051 ns5:ShareCapital 2023-12-31 02721051 ns5:SharePremium 2024-12-31 02721051 ns5:SharePremium 2023-12-31 02721051 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 02721051 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 02721051 ns5:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 02721051 ns5:IntangibleAssetsOtherThanGoodwill 2023-12-31 02721051 ns5:IntangibleAssetsOtherThanGoodwill 2024-12-31 02721051 ns5:IntangibleAssetsOtherThanGoodwill 2023-12-31 02721051 ns5:FurnitureFittings 2023-12-31 02721051 ns5:ComputerEquipment 2023-12-31 02721051 ns5:FurnitureFittings 2024-01-01 2024-12-31 02721051 ns5:ComputerEquipment 2024-01-01 2024-12-31 02721051 ns5:FurnitureFittings 2024-12-31 02721051 ns5:ComputerEquipment 2024-12-31 02721051 ns5:FurnitureFittings 2023-12-31 02721051 ns5:ComputerEquipment 2023-12-31 02721051 ns5:CostValuation 2023-12-31 02721051 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 02721051 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31 02721051 ns5:BetweenOneTwoYears ns5:Non-currentFinancialInstruments 2024-12-31 02721051 ns5:BetweenOneTwoYears ns5:Non-currentFinancialInstruments 2023-12-31 02721051 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2024-12-31 02721051 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2023-12-31 02721051 ns5:Non-currentFinancialInstruments ns5:MoreThanFiveYears 2024-12-31 02721051 ns5:Non-currentFinancialInstruments ns5:MoreThanFiveYears 2023-12-31 02721051 ns5:FinanceLeases ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 02721051 ns5:FinanceLeases ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31 02721051 ns5:FinanceLeases ns5:BetweenOneFiveYears 2024-12-31 02721051 ns5:FinanceLeases ns5:BetweenOneFiveYears 2023-12-31 02721051 ns5:FinanceLeases 2024-12-31 02721051 ns5:FinanceLeases 2023-12-31

REGISTERED NUMBER: 02721051 (England and Wales)

| AUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| FOR |

| ICON TECHNOLOGY & PROCESS CONSULTING |

| LIMITED |

| ICON TECHNOLOGY & PROCESS CONSULTING |

| LIMITED (REGISTERED NUMBER: 02721051) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| ICON TECHNOLOGY & PROCESS CONSULTING |

| LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTORS: | S J Weston

| J Xu

| Dr J Y Luo

| REGISTERED OFFICE: | Harben House

| Harben Parade

| Finchley Road

| London

| NW3 6LH

| REGISTERED NUMBER: | 02721051 (England and Wales)

| AUDITORS: | Xeinadin Audit Limited

| Chartered Accountants

| Statutory Auditors

| Harben House

| Harben Parade

| Finchley Road

| LONDON

| NW3 6LH

| ICON TECHNOLOGY & PROCESS CONSULTING |

| LIMITED (REGISTERED NUMBER: 02721051) |

BALANCE SHEET

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 2,280,159 |  | 2,136,890 |  |

Tangible assets | 5 | 92,827 |  | 141,921 |  |

Investments | 6 | 70,898 |  | 70,898 |  |

2,443,884 |  | 2,349,709 |  |

CURRENT ASSETS

Debtors | 7 | 1,366,253 |  | 1,172,332 |  |

Cash at bank | 104,168 |  | 34,193 |  |

1,470,421 |  | 1,206,525 |  |

CREDITORS

Amounts falling due within one year | 8 | 1,032,825 |  | 1,282,371 |  |

NET CURRENT ASSETS/(LIABILITIES) | 437,596 |  | (75,846 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,881,480 |  | 2,273,863 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (810,152 | ) | (428,883 | ) |

PROVISIONS FOR LIABILITIES | (22,132 | ) | (34,169 | ) |

NET ASSETS | 2,049,196 |  | 1,810,811 |  |

CAPITAL AND RESERVES

Called up share capital | 2,128 |  | 2,128 |  |

Share premium | 108,615 |  | 108,615 |  |

Retained earnings | 1,938,453 |  | 1,700,068 |  |

SHAREHOLDERS' FUNDS | 2,049,196 |  | 1,810,811 |  |

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

S J Weston - Director

| ICON TECHNOLOGY & PROCESS CONSULTING |

| LIMITED (REGISTERED NUMBER: 02721051) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Icon Technology & Process Consulting Limited 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

| The functional currency of the company is the Pound Sterling (£).

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.

| Preparation of consolidated financial statements

| The financial statements contain information about Icon Technology & Process Consulting Ltd as an individual company and do not contain consolidated financial information as the parent of a small group. The company has taken the option under Section 399 of the Companies Act 2006 not to prepare consolidated financial statements.

| ICON TECHNOLOGY & PROCESS CONSULTING |

| LIMITED (REGISTERED NUMBER: 02721051) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover represents the value, net of value added tax and discounts, for work carried out in respect of software and services provided to customers.

| Sale of software:

| The company provides CFD software to its customers. 70% of the revenue is immediately recognised once it has been invoiced, with the remaining 30% being deferred over the period of the software licence.

| Rendering of services:

| The company provides support and consulting services to its customers. Revenue from these services are recognised in the accounting period in which the services are rendered and when the outcome of the contract can be measured reliably. Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is recognised based upon the stage of completion on a contract by contract basis at the balance sheet date.

| Intangible assets

| Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is calculated, using the straight-line method, to allocate the depreciable amount of the assets to their residual values over their estimated useful lives, as follows:-

| Development costs - 3 years

| Where factors, such as technological advancement or changes in market price, indicate that residual value or useful life have changed, the residual value, useful life or amortisation rate are amended prospectively to reflect the new circumstances.

| The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired.

| Research and Development

| Development costs that are directly attributable to the design and testing of identifiable and unique products controlled by the company are recognised as intangible assets when the following criteria are met:

| - it is technically feasible to complete the software so that it will be available for use;

| - management intends to complete the software and use or sell it;

| - there is an ability to use or sell the software;

| - it can be demonstrated how the software will generate probable future economic benefits;

| - adequate technical, financial and other resources to complete the development and to use or sell;

| - the software is available and

| - the expenditure attributable to the software during its development can be reliably measured.

| Other development expenditures that do not meet these criteria are recognised as an expense as incurred. Development costs previously recognised as an expense are not recognised as an asset in a subsequent period, in line with Paragraph 18.17 of FRS 102.

| ICON TECHNOLOGY & PROCESS CONSULTING |

| LIMITED (REGISTERED NUMBER: 02721051) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets are stated at historic cost less accumulated depreciation and accumulated impairment losses. Costs include the original purchase priced, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.

| Depreciation is provided on their cost less their residual value over their estimated useful lives, using either the straight line or reducing balance method.

| Depreciation is provided on the following basis:

| Short leasehold - Straight line over the lease period.

| Improvements to property - Straight line over 5 years.

| Fixtures and fittings - Straight line over 7 years.

| Computer equipment - Straight line over 5 years.

| The assets residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

| Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Taxation

| Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised directly in equity.

| Current 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.

| Taxation in the Profit and Loss Account includes amounts recoverable from HMRC by the surrender of losses through the Research and Development Tax Credit scheme. Research and Development is recognised in the Accounts and Tax Computation on an arising basis.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating results.

| Hire purchase and leasing commitments

| Rentals payable under operating leases are charged to the profit an loss account on a straight line basis over the lease term.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| ICON TECHNOLOGY & PROCESS CONSULTING |

| LIMITED (REGISTERED NUMBER: 02721051) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

| (i) Financial assets

| Basic financial assets, including trade and other debtors, intercompany balances and cash and bank balances, are initially recognised at transactions price, unless the arrangement constitutes a financing transaction, where transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in the profit and loss account.

| (ii) Financial liabilities

| Basic financial liabilities, including trade and other creditors, intercompany balances and loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted a market rate of interest.

| Debt instruments are subsequently carried at amortised cost, using the effective interest method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 10 (2023 - 11 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 January 2024 | 7,468,735 |  |

| Additions | 1,600,300 |  |

| At 31 December 2024 | 9,069,035 |  |

| AMORTISATION

| At 1 January 2024 | 5,331,845 |  |

| Charge for year | 1,457,031 |  |

| At 31 December 2024 | 6,788,876 |  |

| NET BOOK VALUE

| At 31 December 2024 | 2,280,159 |  |

| At 31 December 2023 | 2,136,890 |  |

| ICON TECHNOLOGY & PROCESS CONSULTING |

| LIMITED (REGISTERED NUMBER: 02721051) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024 | 6,643 |  | 297,441 |  | 304,084 |  |

| Additions | - |  | 5,764 |  | 5,764 |  |

| At 31 December 2024 | 6,643 |  | 303,205 |  | 309,848 |  |

| DEPRECIATION

| At 1 January 2024 | 6,527 |  | 155,636 |  | 162,163 |  |

| Charge for year | 116 |  | 54,742 |  | 54,858 |  |

| At 31 December 2024 | 6,643 |  | 210,378 |  | 217,021 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  | 92,827 |  | 92,827 |  |

| At 31 December 2023 | 116 |  | 141,805 |  | 141,921 |  |

| The net book value of tangible fixed assets includes £ 74,490 (2023 - £ 113,354 ) in respect of assets held under finance leases.

6. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakin

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 70,898 |  |

| NET BOOK VALUE

| At 31 December 2024 | 70,898 |  |

| At 31 December 2023 | 70,898 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 538,018 |  | 558,413 |  |

| Amounts owed by group undertakings | 419,783 |  | 236,371 |  |

| Other debtors | 4,563 |  | 4,563 |  |

| Directors' current accounts | 1,366 |  | 364 |  |

| UK Tax recoverable | 208,869 |  | 273,447 |  |

| VAT | 13,435 |  | 16,504 |  |

| Prepayments and accrued income | 81,261 |  | - |  |

| Prepayments and accrued income | 98,958 |  | 82,670 |  |

1,366,253 |  | 1,172,332 |  |

| The closing UK Tax recoverable represents R&D tax credits claimable from HMRC but not received by the balance sheet date.

| ICON TECHNOLOGY & PROCESS CONSULTING |

| LIMITED (REGISTERED NUMBER: 02721051) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 143,516 |  | 110,102 |  |

| Finance leases (see note 10) | 33,073 |  | 36,083 |  |

| Trade creditors | 88,490 |  | 100,949 |  |

| Amounts owed to group undertakings | 54,726 |  | 128,461 |  |

| Social security and other taxes | 21,176 |  | 20,051 |  |

| Other creditors | 2,087 |  | 3,255 |  |

| Deferred income | 689,757 |  | 883,470 |  |

1,032,825 |  | 1,282,371 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans - 1-2 years | 145,651 |  | 10,183 |  |

| Bank loans - 2-5 years | 400,000 |  | 13,219 |  |

| Bank loans more 5 yr by instal | 44,445 |  | - |  |

| Finance leases (see note 10) | - |  | 33,070 |  |

| Amounts owed to group undertakings | 220,056 |  | 372,411 |  |

810,152 |  | 428,883 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 44,445 |  | - |  |

10. | LEASING AGREEMENTS

| Minimum lease payments under finance leases fall due as follows:

| Finance leases |

2024 | 2023 |

£ | £ |

| Net obligations repayable:

| Within one year | 33,073 |  | 36,083 |  |

| Between one and five years | - |  | 33,070 |  |

33,073 |  | 69,153 |  |

| Fixed term operating lease commitments not included in the balance sheet amount to £37,458 (2022: £59,922 ). Open term, operating lease commitments not included in the balance sheet amount to £26,208 (2022: £26,208).

11. | SECURED DEBTS

| Bank overdraft facilities provided to the company are secured by a fixed and floating charge over the company's assets.

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

| The Report of the Auditors was unqualified.

| Anthony Cowan (Senior Statutory Auditor)

| for and on behalf of Xeinadin Audit Limited

| ICON TECHNOLOGY & PROCESS CONSULTING |

| LIMITED (REGISTERED NUMBER: 02721051) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

13. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.