Ico Energy Limited - Accounts to registrar (filleted) - small 18.2

Ico Energy Limited - Accounts to registrar (filleted) - small 18.2

ICO ENERGY LIMITED - Company Information

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REGISTERED NUMBER: 04789824 (England and Wales)















Financial Statements for the Year Ended 31 March 2021

for

Ico Energy Limited
Ico Energy Limited (Registered number: 04789824)






Contents of the Financial Statements
for the Year Ended 31 March 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ico Energy Limited

Company Information
for the Year Ended 31 March 2021







DIRECTOR: A Martindale





REGISTERED OFFICE: Second Floor
20 Chapel Street
Liverpool
Merseyside
L3 9AG





REGISTERED NUMBER: 04789824 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW
Page 1
Ico Energy Limited (Registered number: 04789824)

Balance Sheet
31 March 2021

31.3.21 31.3.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,254 6,648
5,254 6,648

CURRENT ASSETS
Stocks 4,250 8,150
Debtors 6 48,583 46,087
Cash at bank 6,440 6,460
59,273 60,697
CREDITORS
Amounts falling due within one year 7 53,475 52,502
NET CURRENT ASSETS 5,798 8,195
TOTAL ASSETS LESS CURRENT
LIABILITIES
11,052
14,843

PROVISIONS FOR LIABILITIES 969 1,227
NET ASSETS 10,083 13,616

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 83 3,616
SHAREHOLDERS' FUNDS 10,083 13,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The notes form part of these financial statements

Page 2 continued...
Ico Energy Limited (Registered number: 04789824)

Balance Sheet - continued
31 March 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 February 2022 and were signed by:





A Martindale - Director


The notes form part of these financial statements

Page 3
Ico Energy Limited (Registered number: 04789824)

Notes to the Financial Statements
for the Year Ended 31 March 2021

1. STATUTORY INFORMATION

Ico Energy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

COVID-19
COVID-19 is not expected to have a significant impact on the entity. Management has determined that there is no material uncertainty that casts doubt on the entity's ability to continue as a going concern.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable on facility maintenance and management services, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised as the services are provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.


Page 4 continued...
Ico Energy Limited (Registered number: 04789824)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

2. ACCOUNTING POLICIES - continued
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.

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 2 (2020 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2020
and 31 March 2021 4,000
AMORTISATION
At 1 April 2020
and 31 March 2021 4,000
NET BOOK VALUE
At 31 March 2021 -
At 31 March 2020 -

Page 5 continued...
Ico Energy Limited (Registered number: 04789824)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2020
and 31 March 2021 43,000
DEPRECIATION
At 1 April 2020 36,352
Charge for year 1,394
At 31 March 2021 37,746
NET BOOK VALUE
At 31 March 2021 5,254
At 31 March 2020 6,648

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Trade debtors 40,101 46,087
Other debtors 8,482 -
48,583 46,087

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Trade creditors 35,011 36,483
Taxation and social security 16,265 12,869
Other creditors 2,199 3,150
53,475 52,502

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director operates a current account with the company to which all transactions of a private nature are charged. Included in other debtors, is an amount of £8,482, (2020 £140, creditor). This loan was unsecured and interest was not charged. The amount represents the maximum overdrawn during the year.

Page 6