Iceboys Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03778759

Iceboys Limited

Filleted Unaudited Abridged Financial Statements

31 December 2024

Iceboys Limited

Abridged Financial Statements

Year ended 31 December 2024

Contents	Page

Abridged statement of financial position	1

Accounting policies	3

Notes to the abridged financial statements	7

Iceboys Limited

Abridged Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	4	49,707	–
Tangible assets	5	549,581	717,488
Investments	6	1,895,549	1,895,549
		------------	------------
		2,494,837	2,613,037

Current assets

Debtors	64,440	180,300
Cash at bank and in hand	242,035	472,339
	---------	---------
	306,475	652,639

Creditors: amounts falling due within one year	261,435		180,512
	---------		---------
Net current assets		45,040	472,127
		------------	------------
Total assets less current liabilities		2,539,877	3,085,164

Creditors: amounts falling due after more than one year	7		207,679	635,641

Provisions

Taxation including deferred tax	133,475	183,693
	------------	------------
Net assets	2,198,723	2,265,830
	------------	------------

Capital and reserves

Called up share capital	1	1
Profit and loss account	2,198,722	2,265,829
	------------	------------
Shareholder funds	2,198,723	2,265,830
	------------	------------

These abridged 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 abridged statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

Iceboys Limited

Abridged Statement of Financial Position (continued)

31 December 2024

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 9 April 2025 , and are signed on behalf of the board by:

Mr R Riley
Director

Company registration number: 03778759

Iceboys Limited

Accounting Policies

Year ended 31 December 2024

Basis of preparation

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the view of the director in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the exception that deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	33% straight line
Other intangibles	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Fixtures and fittings	-	10% straight line
Motor vehicles	-	25% straight line
Equipment	-	33% straight line

Investments

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

The company contributes into the defined contribution pension schemes of certain employees. The annual contributions are charged to the profit and loss account as they fall due.

Iceboys Limited

Notes to the Abridged Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 The Old Yard, Lodge Farm Business Centre, Wolverton Road, Castlethorpe, Milton Keynes, MK19 7ES. The company's principal place of business is Technology House, Michigan Drive, Tongwell, Milton Keynes, MK15 8HQ.

2. Statement of compliance

These abridged 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. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

4. Intangible assets

	£
Cost
At 1 January 2024	7,000
Additions	15,000
Transfers	44,096
	--------
At 31 December 2024	66,096
	--------
Amortisation
At 1 January 2024	7,000
Charge for the year	5,347
Other movements	4,042
	--------
At 31 December 2024	16,389
	--------
Carrying amount
At 31 December 2024	49,707
	--------
At 31 December 2023	–
	--------

5. Tangible assets

	£
Cost
At 1 January 2024	1,256,567
Additions	159,280
Disposals	( 144,532)
Transfers	( 44,096)
	------------
At 31 December 2024	1,227,219
	------------
Depreciation
At 1 January 2024	539,079
Charge for the year	247,575
Disposals	( 104,974)
Other movements	( 4,042)
	------------
At 31 December 2024	677,638
	------------
Carrying amount
At 31 December 2024	549,581
	------------
At 31 December 2023	717,488
	------------

6. Investments

	£
Cost
At 1 January 2024 and 31 December 2024	1,895,549
	------------
Impairment
At 1 January 2024 and 31 December 2024	–
	------------
Carrying amount
At 31 December 2024	1,895,549
	------------
At 31 December 2023	1,895,549
	------------

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

The bank loan of £Nil (2023: £545,338) falling due after more than one year, was secured by way of a debenture and legal charge, on the bank's standard form, over the company's assets.

Included within creditors: amounts falling due after more than one year is an amount of £Nil (2023: £413,000) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

8. Related party transactions

The company was under the control of Mr R Riley throughout the current and previous year. Mr Riley is the managing director and sole shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.