IC Blue Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 04415750

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		266,203		264,090

			266,203		264,090
CURRENT ASSETS
Stocks	5	1,153,783		1,163,240
Debtors	6	1,317,737		1,310,449
Cash at bank and in hand		136,823		51,314

		2,608,343		2,525,003
Creditors: Amounts Falling Due Within One Year	7	(1,814,815 )		(1,482,928 )

NET CURRENT ASSETS (LIABILITIES)			793,528		1,042,075

TOTAL ASSETS LESS CURRENT LIABILITIES			1,059,731		1,306,165

Creditors: Amounts Falling Due After More Than One Year	8		-		(91,667 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(26,570 )		(23,493 )

NET ASSETS			1,033,161		1,191,005

CAPITAL AND RESERVES
Called up share capital	10		2,000		2,000
Profit and Loss Account			1,031,161		1,189,005

SHAREHOLDERS' FUNDS			1,033,161		1,191,005

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IC Blue Limited

Balance Sheet (continued)

As At 31 August 2025

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

A Lucas

Director

29 May 2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

IC Blue Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04415750 . The registered office is Neptune House, Neptune Street, Leeds, LS9 8PB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	10% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	15% reducing balance and 20% straight line
Computer Equipment	33% straight line

2.4. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

2.5. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

The tax expense for the year comprises current and deferred tax. Current tax is based on taxable profit for the year, using tax rates that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of timing differences between the carrying amounts of assets and liabilities in the financial statements and their corresponding tax bases. Deferred tax is measured using tax rates expected to apply when the timing differences reverse. Deferred tax assets are recognised to the extent that it is probable they will be recovered.

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IC Blue Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 36 (2024: 36)

4. Tangible Assets

	Land & Property
	Freehold	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 September 2024	79,371	166,797	243,217	242,223	731,608
Additions	1,775	-	46,309	14,635	62,719

As at 31 August 2025	81,146	166,797	289,526	256,858	794,327

Depreciation
As at 1 September 2024	12,938	98,913	121,453	234,214	467,518
Provided during the period	6,658	16,971	30,744	6,233	60,606

As at 31 August 2025	19,596	115,884	152,197	240,447	528,124

Net Book Value
As at 31 August 2025	61,550	50,913	137,329	16,411	266,203

As at 1 September 2024	66,433	67,884	121,764	8,009	264,090

5. Stocks

	2025	2024
	£	£
Stock	1,153,783	1,163,240

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,267,695	1,232,505
Other debtors	50,042	77,944

	1,317,737	1,310,449

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IC Blue Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	652,284	490,017
Bank loans and overdrafts	151,359	100,000
Other creditors	912,891	769,993
Taxation and social security	98,281	122,918

	1,814,815	1,482,928

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	91,667

9. Secured Creditors

The company has an invoice financing creditor secured by way of a fixed and floating charge over the company's assets. This is presented within "Other Creditors".

	2025		2024
	£		£
Other Creditors	728,242		429,613

10. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1,000 Ordinary A shares of £ 1 each	1,000	1,000
1,000 Ordinary B shares of £ 1 each	1,000	1,000

	2,000	2,000

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	14,762	43,320
Later than one year and not later than five years	4,286	10,805

	19,048	54,125

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IC Blue Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

12. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 September 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 August 2025
	£	£	£	£	£
Mr Matthew Ward	41,739	17,684	41,739	-	17,684

The above loan was unsecured, interest free and repayable on demand.

13. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	81,882	81,882

Interim dividends paid included £81.88 per Ordinary B share totalling £81,882 (2024: £81.88 per share, £81,882 total).

14. Related Party Transactions

IC Blue Technology Limited (a company under common control)

During the year IC Blue Limited rented property from the above company on normal commercial terms. The rent payable in the year was £48,000 (2024: £48,000). A loan balance also existed between the two companies. At the balance sheet date the the amount due to IC Blue Technology Limited was £4,735 (2024: £32,788).

Leeds Electronic Manufacturing Services Limited (a company under common control)

During the year IC Blue Limited had a trading relationship with the above company. Purchases from the above company of £139,467 (2024: £87,831) are included in the profit and loss account of IC Blue Limited. At the balance sheet date the the amount due to Leeds Electronic Manufacturing Services Limited was £4,624 (2024: £12,439).

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