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REGISTERED NUMBER: 11571064 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ICON MANCHESTER DEVELOPMENTS LIMITED

ICON MANCHESTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11571064)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ICON MANCHESTER DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: D P Gallagher





SECRETARY: J Craig





REGISTERED OFFICE: 26-28 Ludgate Hill
Birmingham
B3 1DX





REGISTERED NUMBER: 11571064 (England and Wales)





AUDITORS: Prime
Chartered Accountants
Statutory Auditor
Corner Oak
1 Homer Road
Solihull
B91 3QG

ICON MANCHESTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11571064)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 6,334 840,430
Cash at bank 11,960 175,480
18,294 1,015,910
CREDITORS
Amounts falling due within one year 5 13,480 973,718
NET CURRENT ASSETS 4,814 42,192
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,814

42,192

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 3,814 41,192
SHAREHOLDERS' FUNDS 4,814 42,192

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 31 July 2024 and were signed by:





D P Gallagher - Director


ICON MANCHESTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11571064)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Icon Manchester Developments 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.

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

Construction contracts
When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to costs to date as a percentage of total estimated costs.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

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.

ICON MANCHESTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11571064)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The estimates and associated assumptions used in preparation of the financial statements are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and future periods where necessary.

The most significant accounting policies and areas of judgement arise from the accounting for contracts. Contract accounting requires estimates to be made with regards to its costs and income. In the majority of cases these contractual obligations span more than one financial period. The costs and income may be affected by a number of uncertainties which are dependent on the outcome of future events and may need to be revised accordingly as the events unfold.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 380,108
Amounts owed by group undertakings 1,445 1,445
Amounts recoverable on contract - 458,877
Other debtors 4,889 -
6,334 840,430

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,480 418,025
Taxation and social security - 68,421
Other creditors 10,000 487,272
13,480 973,718

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Johns BSc FCA (Senior Statutory Auditor)
for and on behalf of Prime

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

ICON MANCHESTER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11571064)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Soulplane JV, S.A.R.L registered office 6D Route de Treves, Senningberg, Luxembourg, L-2633.

The ultimate parent company is TPG a company registered in the USA.

The ultimate controlling parties are D Bonderman and J G Coulter.