Icescape Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Pavilion Centre
Frog Lane
Coalpit Heath
Bristol
BS36 2NW
England

These financial statements were authorised for issue by the Board on 12 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. This assumes that the company will have sufficient financial resources to continue trading. As at 31 January 2025 the company had an asset net deficit of £700,630 (2024: £711,464). Other creditors within the accounts include a loan from the parent undertaking, Danco International Limited, of £304,941 (2024: £304,941) which, in the opinion of the directors, will not fall due for payment until the company is in a financial position to do so. With this support the directors are of the opinion that the company will be able to continue trading and meet its obligations as they fall due.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Icescape Limited

Notes to the Financial Statements for the Year Ended 31 January 2025 (continued)

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 12 September 2025 was Peter Roberts, who signed for and on behalf of Roberts & Co (Bristol) Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% - 20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Icescape Limited

Notes to the Financial Statements for the Year Ended 31 January 2025 (continued)

2	Accounting policies (continued)

Asset class	Amortisation method and rate
Goodwill	10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 44 (2024 - 33).

Icescape Limited

Notes to the Financial Statements for the Year Ended 31 January 2025 (continued)

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 February 2024	240,000	240,000
At 31 January 2025	240,000	240,000
Amortisation
At 1 February 2024	228,000	228,000
Amortisation charge	12,000	12,000
At 31 January 2025	240,000	240,000
Carrying amount
At 31 January 2025	-	-
At 31 January 2024	12,000	12,000

5	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 February 2024	312,885	312,885
Additions	223,015	223,015
At 31 January 2025	535,900	535,900
Depreciation
At 1 February 2024	30,474	30,474
Charge for the year	74,215	74,215
At 31 January 2025	104,689	104,689
Carrying amount
At 31 January 2025	431,211	431,211
At 31 January 2024	282,411	282,411

Icescape Limited

Notes to the Financial Statements for the Year Ended 31 January 2025 (continued)

6

Debtors

Current	2025 £	2024 £
Trade debtors	46,228	155,690
Prepayments	172,195	81,413
	218,423	237,103

Icescape Limited

Notes to the Financial Statements for the Year Ended 31 January 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		343,986	107,263
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	304,941	692,594
Taxation and social security		281,904	247,651
Accruals and deferred income		719,854	260,242
Other creditors		55,756	90,749
		1,706,441	1,398,499

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

9	Related party transactions

Summary of transactions with parent

The company is an 80% subsidiary of Danco International Limited, a company incorporated in England & Wales.

In the year the company provided goods and services to Danco International Limited in the sum of £27,941 (2024: £46,955).
In the year,the company received goods and services from Danco International Limited in the sum of £1,421,719 (£1,027,573).

At the balance sheet date the company owed Danco International Limited a balance of £304,941 (2024: £692,594).

Icescape Limited

Notes to the Financial Statements for the Year Ended 31 January 2025 (continued)

10	Parent and ultimate parent undertaking

Danco International Limited controls Icescape Limited by virtue of a 80% holding of the issued ordinary share capital in the company.

The ultimate controlling party is the director, A S Dann, by virtue of his 83.3% inerest in the issued ordinary share capital of Danco International Limited.

 The company's immediate parent is Danco International Limited, incorporated in England & Wales.

 The most senior parent entity producing publicly available financial statements is Danco International Limited. These financial statements are available upon request from Companies House website https://find-and-update.company-information.service.gov.uk/company/01232376/filing-history.

 

The parent of the largest group in which these financial statements are consolidated is Danco International Limited, incorporated in England & Wales.

The address of Danco International Limited is:
The Pavilion Centre,
Frog Lane,
Coalpit Heath,
Bristol,
BS36 2NW

Danco International Limited is also the parent of the smallest group in which these financial statements are consolidated..