ACCOUNTS - Final Accounts preparation

Registered number: 07897594

IC 102 Limited

Financial statements

Information for filing with the registrar

31 March 2025


IC 102 Limited

Balance sheet

At 31 March 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		487,430		487,430
			487,430		487,430
Current assets
Debtors	5	183,592		-
Cash at bank and in hand		2		2
		183,594		2
Creditors: amounts falling due within one year	6	(393,277)		(251,089)
Net current liabilities			(209,683)		(251,087)
Total assets less current liabilities			277,747		236,343
Creditors: amounts falling due after more than one year	7		(503,667)		(621,065)

Net liabilities			(225,920)		(384,722)

Capital and reserves
Called up share capital	3	3
Profit and loss account	(225,923)	(384,725)
Shareholders' deficit	(225,920)	(384,722)


IC 102 Limited

Balance sheet (continued)

At 31 March 2025

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 September 2025.

R W Poynton

Director

Company registered number: 07897594
The notes on pages 3 to 5 form part of these financial statements.


IC 102 Limited

Notes to the financial statements

Year ended 31 March 2025

1.	General information

The company is a private company limited by shares, incorporated in the United Kingdom and registered in England. The address of the registered office is 248 Kimberworth Park Road, Rotherham, South Yorkshire, S61 3JN, England.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The director believes that the company will be able to continue to trade within its working capital facilities for the foreseeable future and with the continued support of the directors and shareholders.
They choose to prepare the accounts on a going concern basis.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Employees

The average monthly number of employees, including directors, during the year was 3 (2023: 3).


IC 102 Limited

Notes to the financial statements

Year ended 31 March 2025

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	At 1 April 2024	487,430
	At 31 March 2025	487,430

Debtors

					2025	2024
					£	£


Other debtors	183,592	-
	183,592	-

6.	Creditors: amounts falling due within one year
		2025	2024
		£	£

Bank loans	58,699	-
Amounts owed to group undertakings	331,590	249,025
Accruals	2,988	2,064
	393,277	251,089

7.	Creditors: amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	503,667	621,065
	503,667	621,065


IC 102 Limited

Notes to the financial statements

Year ended 31 March 2025

8.	Related party transactions
	The company operated a loan account with Kimberworth Park Practice Limited. The amount owed by IC 102 Limited at 31 March 2025 was £331,590 (2024: £249,025). A market rate of interest has been charged on the loan. IC102 Limited is the majority shareholder of the company.