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REGISTERED NUMBER: 05063733 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

ITC Properties Limited

ITC Properties Limited (Registered number: 05063733)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ITC Properties Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: L E Charles
Mrs D J Charles





REGISTERED OFFICE: Stretfield Mill
Bradwell
Hope Valley
Derbyshire
S33 9JT





REGISTERED NUMBER: 05063733 (England and Wales)





ACCOUNTANTS: Rains and Co Ltd
P O Box 5047
Sheffield
South Yorkshire
S6 9GJ

ITC Properties Limited (Registered number: 05063733)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 456,336 456,336

CURRENT ASSETS
Debtors 5 114,783 111,606
Cash at bank 11,735 22,634
126,518 134,240
CREDITORS
Amounts falling due within one year 6 38,050 52,994
NET CURRENT ASSETS 88,468 81,246
TOTAL ASSETS LESS CURRENT
LIABILITIES

544,804

537,582

CAPITAL AND RESERVES
Called up share capital 10 10
Revaluation reserve 7 221,153 221,153
Retained earnings 323,641 316,419
SHAREHOLDERS' FUNDS 544,804 537,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ITC Properties Limited (Registered number: 05063733)

Balance Sheet - continued
31 March 2023


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 Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





L E Charles - Director


ITC Properties Limited (Registered number: 05063733)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

ITC Properties 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

ITC Properties Limited (Registered number: 05063733)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 456,336 2,400 458,736
DEPRECIATION
At 1 April 2022
and 31 March 2023 - 2,400 2,400
NET BOOK VALUE
At 31 March 2023 456,336 - 456,336
At 31 March 2022 456,336 - 456,336

5. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 14,007 10,830

Amounts falling due after more than one year:
Other debtors 100,776 100,776

Aggregate amounts 114,783 111,606

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Taxation and social security 11,490 12,681
Other creditors 26,560 40,313
38,050 52,994

ITC Properties Limited (Registered number: 05063733)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 221,153

8. RELATED PARTY TRANSACTIONS

The Company is under the control of Mr L E Charles who is a Director and the majority shareholder.

Included in creditors is a Directors Loan Account of £6,509.22 - (2022 - 6676.44).

Included in creditors is £21,530 (2022 - £29,530) owed to Visionurban Limited in which Mr L E Charles is a Director and Shareholder.