REGISTERED NUMBER: 00827957 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ICAM ENGINEERING LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Davies

P D Barlow

J J Davies

T M Davies

SECRETARY:

Mrs S E Davies

REGISTERED OFFICE:

Dock Road Industrial Estate

Connah's Quay

Flintshire

CH5 4DS

REGISTERED NUMBER:

00827957 (England and Wales)

ACCOUNTANTS:

Michael Donnan & Co Limited

Oaktree Court Business Ctr

Mill Lane

Ness

Cheshire

CH64 8TP

FIXED ASSETS

Tangible assets

4

1,767,911

1,382,889

Investments

5

185,274

156,964

1,953,185

1,539,853

CURRENT ASSETS

Stocks

2,223,251

2,212,899

Debtors

6

2,311,401

1,577,195

Cash at bank and in hand

1,650,498

1,887,911

6,185,150

5,678,005

CREDITORS

Amounts falling due within one year

7

2,119,820

2,089,285

NET CURRENT ASSETS

4,065,330

3,588,720

TOTAL ASSETS LESS CURRENT LIABILITIES

6,018,515

5,128,573

CREDITORS

Amounts falling due after more than one year

8

(67,958

)

(34,826

)

PROVISIONS FOR LIABILITIES

(277,000

)

(191,000

)

NET ASSETS

5,673,557

4,902,747

CAPITAL AND RESERVES

Called up share capital

10

2,000

2,000

Revaluation reserve

11

54,642

54,642

Retained earnings

11

5,616,915

4,846,105

SHAREHOLDERS' FUNDS

5,673,557

4,902,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 26 September 2025 and were signed on its behalf by:

C J Davies - Director

1.	STATUTORY INFORMATION

Icam Engineering 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.

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

Transactions are rounded to the nearest £.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

in accordance with the property

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

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.

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 result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Investments

Investments in US LLCs are accounted for at capital introduced plus share of profits and losses which are recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 42 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 1 January 2024

700,098

1,761,762

173,950

Additions

-

507,594

4,396

At 31 December 2024

700,098

2,269,356

178,346

DEPRECIATION

At 1 January 2024

136,394

1,100,530

87,890

Charge for year

9,075

163,617

13,215

At 31 December 2024

145,469

1,264,147

101,105

NET BOOK VALUE

At 31 December 2024

554,629

1,005,209

77,241

At 31 December 2023

563,704

661,232

86,060

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

77,212

78,741

2,791,763

Additions

76,055

2,544

590,589

At 31 December 2024

153,267

81,285

3,382,352

DEPRECIATION

At 1 January 2024

24,867

59,193

1,408,874

Charge for year

14,671

4,989

205,567

At 31 December 2024

39,538

64,182

1,614,441

NET BOOK VALUE

At 31 December 2024

113,729

17,103

1,767,911

At 31 December 2023

52,345

19,548

1,382,889

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

Valuation in 1998

54,642

-

-

Valuation in 1994

8,365

-

-

Cost

637,091

2,269,356

178,346

700,098

2,269,356

178,346

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 1998

-

-

54,642

Valuation in 1994

-

-

8,365

Cost

153,267

81,285

3,319,345

153,267

81,285

3,382,352

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31/12/24

31/12/23

£

£

Cost

637,091

637,091

Aggregate depreciation

115,309

107,496

Freehold land and buildings were valued on an open market basis on 4 November 1998 by Thomas C. Adams .

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

18,900

60,212

79,112

Additions

-

76,055

76,055

At 31 December 2024

18,900

136,267

155,167

DEPRECIATION

At 1 January 2024

9,819

19,289

29,108

Charge for year

-

11,501

11,501

At 31 December 2024

9,819

30,790

40,609

NET BOOK VALUE

At 31 December 2024

9,081

105,477

114,558

At 31 December 2023

9,081

40,923

50,004

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 January 2024

156,964

Share of profit/(loss)

27,452

Exchange differences

858

At 31 December 2024

185,274

NET BOOK VALUE

At 31 December 2024

185,274

At 31 December 2023

156,964

6.

DEBTORS

31/12/24

31/12/23

£

£

Amounts falling due within one year:

Trade debtors

2,077,257

1,048,719

Other debtors

89,265

76,555

VAT

117,165

345,687

Prepayments and accrued income

27,714

35,052

2,311,401

1,506,013

Amounts falling due after more than one year:

Other debtors > 1 year

-

71,182

Aggregate amounts

2,311,401

1,577,195

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Hire purchase contracts and finance leases

17,540

15,711

Trade creditors

1,975,542

1,791,399

Tax

75,957

204,876

Social security and other taxes

39,924

39,954

Other creditors

7,057

4,709

Accrued expenses

3,800

32,636

2,119,820

2,089,285

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Hire purchase contracts and finance leases

67,958

34,826

9.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/24

31/12/23

£

£

Hire purchase contracts and finance leases

85,498

50,537

Hire purchase and finance lease creditors are secured on the assets which are the subject of the agreements.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

2,000

Ordinary

£1

2,000

2,000

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2024

4,846,105

54,642

4,900,747

Profit for the year

770,810

770,810

At 31 December 2024

5,616,915

54,642

5,671,557

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31/12/24

31/12/23

£

£

R W Connell

Balance outstanding at start of year

-

6,564

Amounts repaid

-

(6,564

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The above advances were interest free, had no fixed repayment dates and were unsecured.