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REGISTERED NUMBER: 05286984 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

I CARE LAND DEVELOPMENT LIMITED

I CARE LAND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05286984)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


I CARE LAND DEVELOPMENT LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Mr S V Emmanuel
Mrs W K Emmanuel





SECRETARY: Mrs W K Emmanuel





REGISTERED OFFICE: Kincraig Business Park
Building 3
Kincraig Road
Blackpool
Lancashire
FY2 0PJ





REGISTERED NUMBER: 05286984 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

I CARE LAND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05286984)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 1,333,000 1,015,499

CURRENT ASSETS
Debtors 5 12,342 9,859
Cash at bank 98,004 27,359
110,346 37,218
CREDITORS
Amounts falling due within one year 6 (36,066 ) (29,271 )
NET CURRENT ASSETS 74,280 7,947
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,407,280

1,023,446

PROVISIONS FOR LIABILITIES (72,023 ) (22,457 )
NET ASSETS 1,335,257 1,000,989

CAPITAL AND RESERVES
Called up share capital 13 13
Fair value reserve 448,323 180,389
Retained earnings 886,921 820,587
SHAREHOLDERS' FUNDS 1,335,257 1,000,989

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

I CARE LAND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05286984)

BALANCE SHEET - continued
31 March 2024


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 11 October 2024 and were signed on its behalf by:





Mr S V Emmanuel - Director


I CARE LAND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05286984)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

I Care Land Development 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 as modified by the revaluation of certain assets.

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.

No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of FRS102 Section 1A (effective January 2016) in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation. However the amount of the depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified or quantified.

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.

Going concern
The directors are satisfied at the time of approving the financial statements that the company has adequate resources to continue to operate for the foreseeable future and as such, continues to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

I CARE LAND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05286984)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,015,499
Revaluations 317,501
At 31 March 2024 1,333,000
NET BOOK VALUE
At 31 March 2024 1,333,000
At 31 March 2023 1,015,499

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 317,500
Valuation in 2012 202,846
Cost 812,654
1,333,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 812,654 812,654

Investment property was valued on an open market basis on 31 March 2024 by Duxburys Commercial .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,707 5,273
Prepayments 4,635 4,586
12,342 9,859

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,326 3,285
Tax 22,111 16,231
VAT 4,395 3,942
Accruals and deferred income 6,234 5,813
36,066 29,271

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £80,000 were paid to the directors .