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REGISTERED NUMBER: 11913623 (England and Wales)











Financial Statements

for the Year Ended 31 December 2023

for

IDCC PROPERTIES LTD

IDCC PROPERTIES LTD (REGISTERED NUMBER: 11913623)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IDCC PROPERTIES LTD

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr C Insley





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 11913623 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

IDCC PROPERTIES LTD (REGISTERED NUMBER: 11913623)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 53,115 153,216
Investment property 5 1,225,000 1,225,000
1,278,115 1,378,216

CURRENT ASSETS
Debtors 6 239,484 179,570
Cash at bank 2,499 2,681
241,983 182,251
CREDITORS
Amounts falling due within one year 7 616,979 676,989
NET CURRENT LIABILITIES (374,996 ) (494,738 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

903,119

883,478

CREDITORS
Amounts falling due after more than one year 8 (337,551 ) (375,251 )

PROVISIONS FOR LIABILITIES (101,961 ) (100,163 )
NET ASSETS 463,607 408,064

CAPITAL AND RESERVES
Called up share capital 9 4,002 4,002
Fair value reserve 308,156 300,488
Retained earnings 151,449 103,574
SHAREHOLDERS' FUNDS 463,607 408,064

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

IDCC PROPERTIES LTD (REGISTERED NUMBER: 11913623)

Balance Sheet - continued
31 December 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 director and authorised for issue on 19 April 2024 and were signed by:





Mr C Insley - Director


IDCC PROPERTIES LTD (REGISTERED NUMBER: 11913623)

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

1. STATUTORY INFORMATION

IDCC Properties Ltd 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Other
investme
£   
COST OR VALUATION
At 1 January 2023 153,216
Disposals (150,925 )
Revaluations 50,824
At 31 December 2023 53,115
NET BOOK VALUE
At 31 December 2023 53,115
At 31 December 2022 153,216

IDCC PROPERTIES LTD (REGISTERED NUMBER: 11913623)

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

4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2023 is represented by:

Other
investme
£   
Valuation in 2020 (13,363 )
Valuation in 2021 (26,079 )
Valuation in 2022 (1,915 )
Valuation in 2023 50,824
Cost 43,648
53,115

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,225,000
NET BOOK VALUE
At 31 December 2023 1,225,000
At 31 December 2022 1,225,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 400,651
Cost 824,349
1,225,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 215,484 -
Other debtors 24,000 179,570
239,484 179,570

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 16,356 -
Trade creditors 133,783 6,000
Taxation and social security 16,244 1,471
Other creditors 450,596 669,518
616,979 676,989

IDCC PROPERTIES LTD (REGISTERED NUMBER: 11913623)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 337,551 375,251

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 253,786 375,251

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
1,000 C Ordinary £1 1,000 1,000
1,000 D Ordinary £1 1,000 1,000
1,000 E Ordinary £1 1,000 1,000
1,000 F Ordinary £1 1,000 1,000
4,002 4,002

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the director £175,246 (2022: £226,171). The amount is interest free and repayable on demand.

At the balance sheet date, the company owed £274,449 (2022: £330,960) to IDCC Services Limited. They are related parties by virtue of the fact that they are under common control.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr C Insley.