Year Ended
Registration number:
ICB (Trading) Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Consolidated Statement of Income and Retained Earnings |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
ICB (Trading) Limited
Company Information
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Directors |
Mr R W Jackson Mrs A A Jackson |
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Registered office |
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Auditors |
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ICB (Trading) Limited
Strategic Report
Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the group is providing specialist materials and services to the construction industry.
Fair review of the business
Negative global headwinds continued through the year affecting costs and creating uncertainty in the market. However, we continued to invest people and equipment in preparation for a turnaround in market conditions which is expected in the second half of 2026. As a result the business is well placed to take advantage of any opportunities for growth.
The group's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£ |
14,668,167 |
14,468,323 |
|
Gross profit margin |
% |
39 |
39 |
Principal risks and uncertainties
Financial
Foreign exchange rates remain volatile but forward planning shelters us from any sudden shocks. The industry has suffered from a few large insolvencies, but we continue to insure most of our debt and operate strict credit control procedure. Cybersecurity is also being beefed up. Energy cost continue to rise and the investment in renewable has helped alleviate that and is something we will look to expand.
Supply Chain
Supply of goods has not been an issue in 2025 but we have an ongoing task of diversifying supply and/or tightening agreements. This applies more so to sub-contractor services we employ.
Staffing
This continues to be a challenge but expanding the locations we operate from has helped us secure the people resources we need.
Economy
The economy remains flat as does the construction market and we are taking steps to expand the sectors we operate in.
ICB (Trading) Limited
Strategic Report
Year Ended 31 December 2025
Approved and authorised by the
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ICB (Trading) Limited
Directors' Report
Year Ended 31 December 2025
The directors present their report and the for the year ended 31 December 2025.
Directors of the group
The directors who held office during the year were as follows:
Information included in the Strategic Report
In accordance with Section 414C(11) of the Companies Act 2006, information regarding financial risk management objectives and policies has been disclosed in the Strategic Report.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Approved and authorised by the
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ICB (Trading) Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ICB (Trading) Limited
Independent Auditor's Report to the Members of ICB (Trading) Limited
Opinion
We have audited the financial statements of ICB (Trading) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2025 and of the group's loss for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
ICB (Trading) Limited
Independent Auditor's Report to the Members of ICB (Trading) Limited
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the group’s and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.
ICB (Trading) Limited
Independent Auditor's Report to the Members of ICB (Trading) Limited
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
During our audit planning we obtained an understanding of the entity, its business operations, internal controls and the legal and regulatory framework that is applicable to ICB (Trading) Limited. As part of this work we enquired with management, reviewed the company's website, policies and procedures. Key regulations we identified were health and safety regulations, and those laws and regulations that have a direct impact on the preparation of the financial statements such as The Companies Act 2006 and relevant tax legislation.
Management enquiries covered any knowledge or evidence of actual and potential fraud, litigation and claims, which were followed up with corroborative audit review work. We also evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements.
Based on this understanding we designed our audit procedures to identify non-compliance with relevant laws and regulations. Our procedures involved the following:
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Enquiries of management regarding their knowledge of any non compliance with laws and regulations that could affect the financial statements. As part of these enquiries we also discussed with management whether there have been any known instances of fraud; and |
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Reviewed legal and professional costs to identify any possible non compliance or legal costs in respect of non compliance. |
We assessed the susceptibility of the financial statements to material misstatement through management override or fraud and obtained an understanding of the controls in place to mitigate the risk of fraud. We also evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements. The key risk we identified was in relation to the completeness of revenue. Based upon our understanding we designed and conducted audit procedures including:
ICB (Trading) Limited
Independent Auditor's Report to the Members of ICB (Trading) Limited
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Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness; |
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Testing of sales orders throughout the year to ensure all revenue has been recognised in the general ledger; and |
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Reviewing estimates and judgements made in the accounts for any indication of bias, and challenged assumptions used by management in making the estimates. |
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresentations, or the override of internal controls. We are also less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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Towngate House
2-8 Parkstone Road
Dorset
BH15 2PW
ICB (Trading) Limited
Consolidated Statement of Income and Retained Earnings for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Turnover |
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|
|
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Cost of sales |
( |
( |
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Gross profit |
|
|
|
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Administrative expenses |
( |
( |
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Operating (loss)/profit |
( |
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Other interest receivable and similar income |
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Interest payable and similar charges |
( |
( |
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(Loss)/profit before tax |
( |
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|
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Taxation |
|
( |
|
|
(Loss)/profit for the financial year |
( |
|
|
|
Retained earnings brought forward |
2,328,289 |
2,285,894 |
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|
Dividends paid |
( |
( |
|
|
Retained earnings carried forward |
2,138,344 |
2,328,289 |
ICB (Trading) Limited
Consolidated Balance Sheet
31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
|||
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved and authorised by the
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Company Registration Number: 10462429
ICB (Trading) Limited
Balance Sheet
31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
|||
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Tangible assets |
|
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Investments |
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Current assets |
|||
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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|
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
|||
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Called up share capital |
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|
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Profit and loss account |
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Shareholders' funds |
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The company has taken the exemption in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account. The company made a profit after tax for the financial year of £58,024 (2024 - profit of £150,572).
Approved and authorised by the
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Company Registration Number: 10462429
ICB (Trading) Limited
Consolidated Statement of Cash Flows
Year Ended 31 December 2025
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Note |
2025 |
2024 |
|
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Cash flows from operating activities |
|||
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(Loss)/profit for the year |
( |
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Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
|
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Loss/(profit) on disposal of tangible assets |
|
( |
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Finance income |
( |
( |
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Finance costs |
|
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Income tax expense |
( |
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||
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Working capital adjustments |
|||
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Increase in stocks |
( |
( |
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Decrease/(increase) in debtors |
|
( |
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(Decrease)/increase in creditors |
( |
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(Decrease)/increase in deferred income |
( |
|
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Cash generated from operations |
|
|
|
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Income taxes received/(paid) |
|
( |
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Net cash flow from operating activities |
|
|
|
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Cash flows from investing activities |
|||
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Interest received |
|
|
|
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Acquisitions of tangible assets |
( |
( |
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Proceeds from sale of tangible assets |
|
|
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Net cash flows from investing activities |
( |
( |
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Cash flows from financing activities |
|||
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Interest paid |
( |
( |
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Repayment of bank borrowing |
( |
( |
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Movement of other borrowing |
|
|
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Payments to finance lease creditors |
( |
( |
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Dividends paid |
( |
( |
|
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Net cash flows from financing activities |
|
( |
|
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Net decrease in cash and cash equivalents |
( |
( |
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Cash and cash equivalents at 1 January |
|
|
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Cash and cash equivalents at 31 December |
466,129 |
664,805 |
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ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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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 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
These financial statements are presented in Sterling (£) and are rounded to the nearest whole pound.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 December 2025.
As a consolidated profit and loss account is published, a separate profit and loss account for the parent company is omitted from the group financial statements by virtue of section 408 of the Companies Act 2006.
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Going concern
The directors have reviewed budgets and forecasts, in addition to assessing current levels of cash and availability of further finance from existing facilities, to determine if there will be sufficient working capital to meet the needs of the group for at least twelve months from the date of approval of these financial statements. The directors have also considered the liquidity risk management aspects, such as the majority of turnover coming from customers with insured credit limits and taking deposits before the commencement of installation works. Following this review the directors are satisfied that it is appropriate for the financial statements to be prepared on a going concern basis.
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
Key sources of estimation uncertainty
In the application of the group's accounting policies, the directors are required to make estimates and assumptions over the value of assets and liabilities that are not readily apparent from other sources.
A key accounting estimate made by the directors is with regards to the valuation of stock at the lower of cost and net realisable value, and determining a stock provision estimate. The directors review all stock lines with regards to the last date of sale, the value of these sales and the likelihood of future sales proceeds to determine an overall stock provision figure.
The directors concluded that no stock provision was required in either period.
Revenue recognition
Turnover represents a combination of the sale of goods together with sale and installation. The income on sales is recognised upon despatch, whereas the income from goods installed is recognised based upon the progress of stage completion. Turnover shown net of VAT and other sales related taxes
Foreign currency transactions and balances
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.
The current corporation 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 group operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the consolidated profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Asset class |
Depreciation method and rate |
|
Land and buildings |
2% straight line for building |
|
Furniture, fittings and equipment |
10% straight line |
|
Motor vehicles |
25% reducing balance |
|
Plant and machinery |
15% straight line |
Investments
Investments in subsidiaries are carried at cost less impairment.
Stocks
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 stocks 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.
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.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group 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.
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans;
• Cash and bank balances; and
• Forward rate contracts.
Forward rate contracts are recognised as non basic instruments and all of the financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Derivatives
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date, only to the extent that they are material. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.
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Turnover |
The analysis of the group's Turnover for the year from continuing operations is as follows:
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2025 |
2024 |
|
|
Sale of goods |
|
|
All revenue derives from the same class of business and wholly within the UK.
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Operating (loss)/profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Foreign exchange losses |
- |
|
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Operating lease expense - plant and machinery |
|
|
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Operating lease expense - other |
|
|
|
Loss/(profit) on disposal of property, plant and equipment |
|
( |
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
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Wages and salaries |
|
|
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Social security costs |
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|
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Pension costs, defined contribution scheme |
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Other employee expense |
|
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The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
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2025 |
2024 |
|
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Other departments |
|
|
|
|
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ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
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Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
227,984 |
224,668 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
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2025 |
2024 |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
|
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Auditor's remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
24,000 |
23,500 |
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest expense on other finance liabilities |
|
|
|
Other finance costs |
|
|
|
|
|
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
- |
|
|
UK corporation tax adjustment to prior periods |
( |
- |
|
(38,056) |
54,604 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Tax (receipt)/expense in the income statement |
( |
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
(Loss)/profit before tax |
( |
|
|
Corporation tax at standard rate |
( |
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax expense relating to changes in tax rates or laws |
- |
|
|
Total tax (credit)/charge |
( |
|
Deferred tax
Group
Deferred tax assets and liabilities
|
2025 |
Liability |
|
Accelerated capital allowances |
|
|
|
|
2024 |
Liability |
|
Accelerated capital allowances |
|
|
|
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Tangible assets |
Group
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
|
|
Cost or valuation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Additions |
- |
|
- |
|
|
|
Disposals |
- |
- |
( |
- |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
- |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 December 2025 |
|
|
|
|
|
|
At 31 December 2024 |
|
|
|
|
|
Included within the net book value of land and buildings above is £1,620,375 (2024 - £1,660,120) in respect of freehold land and buildings.
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2025 |
2024 |
|
|
Plant and machinery |
174,821 |
75,952 |
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
Company
|
Freehold land and buildings |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2025 |
|
|
|
At 31 December 2025 |
|
|
|
Depreciation |
||
|
At 1 January 2025 |
|
|
|
Charge for the year |
|
|
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
|
|
|
At 31 December 2024 |
|
|
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 January 2025 |
|
|
Carrying amount |
|
|
At 31 December 2025 |
|
|
At 31 December 2024 |
|
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
Units 9-11 Fleets Industrial Estate, Willis Way, Poole, Dorset, BH15 3SU England |
|
|
|
|
|
Units 9-11 Fleets Industrial Estate, Willis Way, Poole, Dorset, BH15 3SU England |
|
|
|
|
|
Units 9-11 Fleets Industrial Estate, Willis Way, Poole, Dorset, BH15 3SU England |
|
|
|
Subsidiary Undertakings
ICB (Waterproofing) Limited
The principal activity of ICB (Waterproofing Limited) is that of providing specialist roofing.
ICB (Fabrications) Limited
The principal activity of ICB (Fabrications) Limited is the manufacturing of flat roofing ancillary products.
ICB (Projects) Limited
The principal activity of ICB (Projects) Limited is the supply and installation specialist ancillary products for flat roofs. For the year ended 31 December 2025, ICB (Projects) Limited was entitled to exemption from audit under section 479A of the Companies Act relating to subsidiary companies.
The company's investment in ICB (Waterproofing) Limited is direct ownership, all other investments are indirect ownership.
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Stocks |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Raw materials and consumables |
|
|
- |
- |
|
Finished goods and goods for resale |
|
|
- |
- |
|
|
|
- |
- |
|
|
Debtors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Trade debtors |
|
|
- |
- |
|
|
Other debtors |
|
|
- |
- |
|
|
Prepayments |
|
|
- |
- |
|
|
Income tax asset |
- |
|
- |
- |
|
|
|
|
- |
- |
||
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash on hand |
|
|
- |
- |
|
Cash at bank |
|
|
|
|
|
|
|
|
|
|
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
|
Trade creditors |
|
|
- |
- |
|
|
Amounts due to group undertakings |
- |
- |
|
|
|
|
Social security and other taxes |
|
|
|
|
|
|
Other creditors |
|
|
- |
- |
|
|
Accruals and deferred income |
|
|
- |
- |
|
|
Corporation tax |
137 |
- |
- |
- |
|
|
|
|
|
|
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Loans and borrowings |
Non-current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Bank borrowings |
|
|
|
|
|
Hire purchase contracts |
|
|
- |
- |
|
|
|
|
|
|
Current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Bank borrowings |
|
|
|
|
|
Hire purchase contracts |
|
|
- |
- |
|
Other borrowings |
|
|
- |
- |
|
|
|
|
|
|
Group and Company
Within bank loans and borrowings is a mortgage secured over the freehold property which matures in October 2042. The interest rate is fixed at 6.16% per annum for the fixed rate period which ends in October 2032. At the year-end there was £34,800 (2024 - £32,726) due within one year, £162,693 (2024 - £152,998) due between two and five years and £814,077 (2024 - £854,197) due after five years.
Group
Also within bank loans and borrowings for the Group is a CBILS loan which matures in April 2026. The interest rate is 3.25% per annum over Base Rate. At the year-end there was £60,000 (2024 - £180,000) due within one year and £nil (2024 - £60,000) due between two and five years.
Hire purchase contracts are secured over the assets to which they relate.
Other borrowings represent an invoice discounting facility and is secured over the trade debtors of the group.
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Obligations under leases and hire purchase contracts |
Group
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 31 December 2025 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Contributions totalling £
|
Commitments |
Group
Other financial commitments
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Analysis of changes in net debt |
Group
|
At 1 January 2025 |
Financing cash flows |
New finance leases |
At 31 December 2025 |
|
|
Cash and cash equivalents |
||||
|
Cash |
664,805 |
(198,676) |
- |
466,129 |
|
Borrowings |
||||
|
Long term borrowings |
(1,279,921) |
213,501 |
- |
(1,066,420) |
|
Short term borrowings |
(80,077) |
(457,901) |
- |
(537,978) |
|
Lease liabilities |
(68,357) |
28,875 |
(160,879) |
(200,361) |
|
(1,428,355) |
(215,525) |
(160,879) |
(1,804,759) |
|
|
|
||||
|
( |
( |
( |
( |
|
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100,000 |
|
100,000 |
Rights, preferences and restrictions
|
The Company has one class of ordinary shares which carry no right to fixed income. |
ICB (Trading) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Related party transactions |
Group
Key management personnel
Key management personnel are considered to be the Directors. Details of their total remuneration for the period is disclosed in Note 6.
Other related party transactions
In accordance with FRS102 33.1A, no disclosure has been made relating to transactions with other wholly owned members of the group.
|
Parent and ultimate parent undertaking |
The ultimate controlling party is