REGISTERED NUMBER: 04276843 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ICON RELOCATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S A Johnston

Mrs S P Johnston

SECRETARY:

Mrs S P Johnston

REGISTERED OFFICE:

Icon House

Fernbank Centre

High Street

Crowborough

East Sussex

TN6 2QY

REGISTERED NUMBER:

04276843 (England and Wales)

ACCOUNTANTS:

MGR SD Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Intangible assets

4

133,042

46,444

Tangible assets

5

16,970

16,565

150,012

63,009

CURRENT ASSETS

Debtors

6

774,464

749,514

Cash at bank and in hand

177,913

649,154

952,377

1,398,668

CREDITORS

Amounts falling due within one year

7

(745,896

)

(761,201

)

NET CURRENT ASSETS

206,481

637,467

TOTAL ASSETS LESS CURRENT LIABILITIES

356,493

700,476

CREDITORS

Amounts falling due after more than one year

8

(21,757

)

(81,758

)

NET ASSETS

334,736

618,718

CAPITAL AND RESERVES

Called up share capital

11

1,500

1,500

Retained earnings

333,236

617,218

SHAREHOLDERS' FUNDS

334,736

618,718

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 27 June 2025 and were signed on its behalf by:

Mr S A Johnston - Director

1.	STATUTORY INFORMATION

Icon Relocation 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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.

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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

46,444

Additions

118,313

At 31 December 2024

164,757

AMORTISATION

Amortisation for year

31,715

At 31 December 2024

31,715

NET BOOK VALUE

At 31 December 2024

133,042

At 31 December 2023

46,444

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

10,993

93,777

104,770

Additions

-

8,262

8,262

At 31 December 2024

10,993

102,039

113,032

DEPRECIATION

At 1 January 2024

10,993

77,212

88,205

Charge for year

-

7,857

7,857

At 31 December 2024

10,993

85,069

96,062

NET BOOK VALUE

At 31 December 2024

-

16,970

16,970

At 31 December 2023

-

16,565

16,565

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

525,439

530,578

Amounts owed by related parties

137,963

166,780

Other debtors

111,062

52,156

774,464

749,514

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts (see note 9)

60,000

60,000

Trade creditors

359,931

290,129

Amounts owed to related parties

4,961

11,772

Taxation and social security

95,818

119,630

Other creditors

225,186

279,670

745,896

761,201

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans (see note 9)

21,757

81,758

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due within one year or on demand:

Bank loans

60,000

60,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

21,757

81,758

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

34,441

49,832

Between one and five years

88,672

70,332

123,113

120,164

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1,350

Ordinary-A

£1

1,350

1,350

150

Ordinary-B

£1

150

150

1,500

1,500

12.	PENSION COMMITMENTS

The company makes payments to separate defined contribution schemes on behalf of employees and directors. Amounts charged to the profit and loss account were £105,344 (2023: £120,748) for the year. Outstanding pension contributions as at the balance sheet date were £4,291 (2023: £18,712).

13.	RELATED PARTY DISCLOSURES

Icon Moving Services Ltd

A company in which Mr S A Johnston is a director.

During the year, the company recharged costs, including staff salaries, to Icon Moving Services Ltd totalling £673,553 (2023: £386,415).

31.12.24

31.12.23

£

£

Amount due from related party at the balance sheet date

67,284

74,464

Boxchain Moving Ltd

A company in which Mr S A Johnston is a director.

During the year, the company recharged costs, including staff salaries, to Boxchain Moving Ltd totalling £79,247 (2023: £80,688).

31.12.24

31.12.23

£

£

Amount due from related party at the balance sheet date

70,109

92,316

Icon Relocation Asia Ltd

A company in which Mr S A Johnson is a director.

31.12.24

31.12.23

£

£

Amount due from related party at the balance sheet date

570

-

Icon Relocation Asia Pte

A company in which S A Johnston is a shareholder.

During the year, the company recharged costs to Icon Relocation Asia Pte totalling £16,074 (2023: £9,772).

31.12.24

31.12.23

£

£

Amount due to related party at the balance sheet date

4,961

11,772