Company No: 01461875 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	D J Stockley
	R J Stockley
	A D Stockley
	M A Stockley
	R Owen
	S G Taylor-Nobbs

Secretary

D J Stockley

Registered office	Blacksole House The Boulevard
	Altira Business Park
	Herne Bay
	CT6 6GZ
	United Kingdom

Company number

01461875 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor, Maritime Place
	Quayside
	Chatham Maritime
	Chatham
	Kent
	ME4 4QZ

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	224,000		279,000
		224,000		279,000
Current assets
Stocks	4	1,563,806		1,791,826
Debtors	5	1,353,974		1,432,840
Cash at bank and in hand	6	4,119,045		4,181,049
		7,036,825		7,405,715
Creditors: amounts falling due within one year	7	( 469,582)		( 1,013,526)
Net current assets		6,567,243		6,392,189
Total assets less current liabilities		6,791,243		6,671,189
Net assets		6,791,243		6,671,189
Capital and reserves
Called-up share capital		100,000		100,000
Profit and loss account		6,691,243		6,571,189
Total shareholder's funds		6,791,243		6,671,189

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of ICOM (UK) LIMITED (registered number: 01461875) were approved and authorised for issue by the Board of Directors on 16 September 2025. They were signed on its behalf by:

D J Stockley Director

R J Stockley Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ICOM (UK) LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Blacksole House The Boulevard, Altira Business Park, Herne Bay, CT6 6GZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	20 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Office equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	30		30

3. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	19,799		293,289		475,650		268,676		1,057,414
Additions	0		20,590		2,137		0		22,727
Disposals	0		( 29,847)		0		0		( 29,847)
At 31 March 2025	19,799		284,032		477,787		268,676		1,050,294
Accumulated depreciation
At 01 April 2024	12,799		98,789		400,650		266,176		778,414
Charge for the financial year	1,000		52,790		19,137		2,500		75,427
Disposals	0		( 27,547)		0		0		( 27,547)
At 31 March 2025	13,799		124,032		419,787		268,676		826,294
Net book value
At 31 March 2025	6,000		160,000		58,000		0		224,000
At 31 March 2024	7,000		194,500		75,000		2,500		279,000

4. Stocks

	2025		2024
	£		£
Stocks	1,311,468		1,590,742
Work in progress	252,338		201,084
	1,563,806		1,791,826

5. Debtors

	2025		2024
	£		£
Trade debtors	1,304,614		1,376,760
Prepayments	49,360		56,080
	1,353,974		1,432,840

6. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	4,119,045		4,181,049

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	47,260		41,387
Accruals	65,929		620,183
Other taxation and social security	336,393		331,956
Other creditors	20,000		20,000
	469,582		1,013,526

8. Financial commitments

Pensions

The Company operates two defined contribution pension schemes. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund amounted to £103,145 (2024: £93,611). No contributions (2024: nill) were payable to the fund at the balance sheet date.

	2025		2024
	£		£
Contributions Payable	103,145		93,611

9. Related party transactions

Some of the directors are members of the Icom Executive Pension Scheme. The company paid rent to the scheme of £112,000 (2024: £112,000) in respect of the lease of the company's principle trading premises. At the year end rental payments due to the pension scheme amounted to £nil (2024: £nil).

During the year the company purchased goods with a value £31,202 (2024: £37,095) from Antenna Pro Limited, a company owned by Mr R J Stockley. The company provided consultancy services to Antenna Pro Limited in the year. The profit and loss account included a credit in respect of these services of £61,325 (2024: credit of £61,825)

10. Ultimate controlling party

The company is controlled by one of the directors, Mr D J Stockley, by virtue of his 84% shareholding in the company.