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REGISTERED NUMBER: 04436373 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Icon Property Investment Limited

Icon Property Investment Limited (Registered number: 04436373)






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 to 6


Icon Property Investment Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: L B Gozlan





SECRETARY: Kingsland (Services) Limited





REGISTERED OFFICE: 67 Grosvenor Street
London
W1K 3JN





REGISTERED NUMBER: 04436373 (England and Wales)





AUDITORS: Bourner Bullock, Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

Icon Property Investment Limited (Registered number: 04436373)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 8,000 8,000
Investment property 6 850,000 850,000
858,000 858,000

CURRENT ASSETS
Debtors 7 10,577 8,045
Cash at bank 9,223 7,491
19,800 15,536
CREDITORS
Amounts falling due within one year 8 824,511 737,049
NET CURRENT LIABILITIES (804,711 ) (721,513 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,289

136,487

CREDITORS
Amounts falling due after more than one year 9 39,045 51,297
NET ASSETS 14,244 85,190

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 13,244 84,190
14,244 85,190

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2024 and were signed by:





L B Gozlan - Director


Icon Property Investment Limited (Registered number: 04436373)

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

1. STATUTORY INFORMATION

Icon Property Investment 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

Statement of compliance
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.

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 cost

Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any differences in the nature, location, or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


Icon Property Investment Limited (Registered number: 04436373)

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

2. ACCOUNTING POLICIES - continued
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.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and 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 or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment,

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

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

Icon Property Investment Limited (Registered number: 04436373)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 2,341
DEPRECIATION
At 1 January 2023
and 31 December 2023 2,341
NET BOOK VALUE
At 31 December 2023 -

The net book value of tangible fixed assets at 31 December 2022 was £Nil.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 8,000
NET BOOK VALUE
At 31 December 2023 8,000
At 31 December 2022 8,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 850,000
NET BOOK VALUE
At 31 December 2023 850,000
At 31 December 2022 850,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 850,000

Icon Property Investment Limited (Registered number: 04436373)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 78 78
Other debtors 10,499 7,967
10,577 8,045

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 13,781 13,382
Trade creditors 295 1,653
Amounts owed to group undertakings 803,923 714,771
Other creditors 6,512 7,243
824,511 737,049

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 39,045 51,297

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

The Report of the Auditors was unqualified.

Russell Joseph (Senior Statutory Auditor)
for and on behalf of Bourner Bullock, Chartered Accountants

11. ULTIMATE CONTROLLING PARTY

The immediate parent company is Costa Real sarl a company incorporated in Luxembourg. The Company is ultimately controlled by F Gozlan, C Gozlan, LB Gozlan, H Gozlan and M Gozlan.