Registration number: 02746976

IIC Technologies Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 6

IIC Technologies Limited

(Registration number: 02746976)
Balance Sheet as at 31 March 2025

	Note	2025 £		2024 £
Fixed assets
Tangible assets	4		206,120		287,965
Current assets
Debtors	5	2,171,947		1,757,959
Cash at bank and in hand		611,154		615,637
		2,783,101		2,373,596
Creditors: Amounts falling due within one year	6	(1,536,658)		(1,400,924)
Net current assets			1,246,443		972,672
Total assets less current liabilities			1,452,563		1,260,637
Provisions for liabilities			(50,006)		(20,000)
Net assets			1,402,557		1,240,637
Capital and reserves
Called up share capital	7	404,465		404,465
Share premium reserve		511,004		511,004
Capital redemption reserve		227,058		227,058
Other reserves		60,000		60,000
Retained earnings		200,030		38,110
Shareholders' funds			1,402,557		1,240,637

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 August 2025 and signed on its behalf by:
 

......................................... S Sawdon Director

IIC Technologies Limited

Notes to the Financial Statements for the Year Ended 31 March 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 Catalyst
York Science Park
Baird Lane
York
YO10 5GA

These financial statements were authorised for issue by the Board on 29 August 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 were prepared in accordance with Financial Reporting Standard 102 including the disclosure and presentation requirements of Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The company's functional and presentation currency is pound sterling.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 29 August 2025 was Gillian McLoughlin FCA, who signed for and on behalf of Watson Buckle Limited.

Revenue recognition

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

Contract revenue recognition

The company recognises revenue in the accounting period in which the services are rendered when the outcome of the contract can be estimated reliably. The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Taxation

The tax expense for the period comprises corporation and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

IIC Technologies Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the statement of financial position 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, lees any residual value, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	over 3 to 10 years straight line basis
Fixtures and fittings	over 4 years straight line basis

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

IIC Technologies Limited

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

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 42 (2024 - 36).

IIC Technologies Limited

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

4	Tangible assets

	Plant and machinery  £	Fixtures and fittings  £	Total £
Cost or valuation
At 1 April 2024	648,738	204,444	853,182
Additions	4,334	61,078	65,412
Disposals	(67,212)	(17,559)	(84,771)
At 31 March 2025	585,860	247,963	833,823
Depreciation
At 1 April 2024	432,544	132,673	565,217
Charge for the year	92,592	31,271	123,863
Eliminated on disposal	(49,500)	(11,877)	(61,377)
At 31 March 2025	475,636	152,067	627,703
Carrying amount
At 31 March 2025	110,224	95,896	206,120
At 31 March 2024	216,194	71,771	287,965

5

Debtors

		2025 £	2024 £
Trade debtors		113,183	169,883
Amounts owed by group undertakings		1,591,359	1,002,066
Prepayments		125,491	92,137
Other debtors		341,914	493,873
		2,171,947	1,757,959

IIC Technologies Limited

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

6

Creditors

	2025 £	2024 £
Due within one year
Trade creditors	143,955	67,196
Amounts owed to group undertakings	1,006,910	801,472
Taxation and social security	177,216	157,540
Accruals and deferred income	197,811	365,555
Other creditors	10,766	9,161
	1,536,658	1,400,924