| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 January 2025 |
| for |
| I-Clad Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 January 2025 |
| for |
| I-Clad Limited |
| I-Clad Limited (Registered number: 05835192) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2025 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| I-Clad Limited |
| Company Information |
| for the Year Ended 31 January 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 88 Thornhill Street |
| Calverley |
| Leeds |
| LS28 5PD |
| BANKERS: |
| 600 Gorgie Road |
| Edinburgh |
| EH11 3XP |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| I-Clad Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of I-Clad Limited for the year ended 31 January 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of I-Clad Limited, as a body, in accordance with the terms of our engagement letter dated 10 November 2008. Our work has been undertaken solely to prepare for your approval the financial statements of I-Clad Limited and state those matters that we have agreed to state to the Board of Directors of I-Clad Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than I-Clad Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that I-Clad Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of I-Clad Limited. You consider that I-Clad Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of I-Clad Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 88 Thornhill Street |
| Calverley |
| Leeds |
| LS28 5PD |
| I-Clad Limited (Registered number: 05835192) |
| Balance Sheet |
| 31 January 2025 |
| 31.1.25 | 31.1.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| I-Clad Limited (Registered number: 05835192) |
| Balance Sheet - continued |
| 31 January 2025 |
| 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 |
| I-Clad Limited (Registered number: 05835192) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2025 |
| 1. | STATUTORY INFORMATION |
| I-Clad Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover comprises the value of services supplied by the company, net of trade discounts. |
| Intangible fixed assets |
| Intangible fixed assets are stated at cost less amortisation and are written off on a straight line basis as follows: |
| Goodwill Over 5 years |
| 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. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less depreciation. |
| Depreciation is provided at rates calculated to write off the cost of the assets, less their estimated residual value, over their estimated useful lives on the following basis: |
| Computer equipment 35% reducing balance |
| Other office equipment 25% reducing balance |
| Motor vehicles 25% 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| I-Clad Limited (Registered number: 05835192) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 February 2024 |
| and 31 January 2025 |
| AMORTISATION |
| At 1 February 2024 |
| and 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Other |
| Computer | office | Motor |
| equipment | equipment | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| I-Clad Limited (Registered number: 05835192) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.25 | 31.1.24 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.25 | 31.1.24 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | OTHER FINANCIAL COMMITMENTS |
| The company had outstanding commitments in respect of operating leases as at 31 January 2025 of £1,500 (2024 - £1,500). |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024: |
| 31.1.25 | 31.1.24 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest is charged at 2.25% per annum on the above advance. On 31 October 2025, £63,000 was repaid by Mr Wimbush. |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £62,852 (2024 - £83,411) were paid to the directors . |