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REGISTERED NUMBER: 13802916 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ICARE REAL ESTATE LIMITED

ICARE REAL ESTATE LIMITED (REGISTERED NUMBER: 13802916)

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


ICARE REAL ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: F Collman





REGISTERED OFFICE: 2nd Floor
Medway Bridge House
1 - 8 Fairmeadow
Maidstone
Kent
ME14 1JP





REGISTERED NUMBER: 13802916 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
2nd Floor
Medway Bridge House
1-8 Fairmeadow
Maidstone
Kent
ME14 1JP

ICARE REAL ESTATE LIMITED (REGISTERED NUMBER: 13802916)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 889 1,556

CURRENT ASSETS
Debtors 5 287,304 113,002
Cash at bank 358 191,272
287,662 304,274
CREDITORS
Amounts falling due within one year 6 255,543 198,885
NET CURRENT ASSETS 32,119 105,389
TOTAL ASSETS LESS CURRENT LIABILITIES 33,008 106,945

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Share premium 8 99,000 99,000
Retained earnings 8 (66,992 ) 6,945
SHAREHOLDERS' FUNDS 33,008 106,945

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.

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 5 June 2024 and were signed by:





F Collman - Director


ICARE REAL ESTATE LIMITED (REGISTERED NUMBER: 13802916)

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


1. STATUTORY INFORMATION

iCare Real Estate 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.

Going concern
Accounting standards require the director to consider the appropriateness of the going concern basis when preparing the financial statements. The director confirms that he considers that the going concern basis remains appropriate. The director believes that the company has sufficient resources to continue in operational existence for the foreseeable future.

Thus, he continues to adopt the going concern basis of accounting in preparing the annual financial statements.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

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 accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.

ICARE REAL ESTATE LIMITED (REGISTERED NUMBER: 13802916)

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


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more then 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known accounts of cash with no significant risk of change in value.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as
permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2023
and 31 December 2023 2,000
AMORTISATION
At 1 January 2023 444
Amortisation for year 667
At 31 December 2023 1,111
NET BOOK VALUE
At 31 December 2023 889
At 31 December 2022 1,556

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 113,505 102,769
Other debtors 170,094 -
Prepayments 3,705 10,233
287,304 113,002

ICARE REAL ESTATE LIMITED (REGISTERED NUMBER: 13802916)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 210,528 166,819
Corporation tax - 2,094
Social security and other taxes 15,471 7,363
VAT 25,470 19,159
Other creditors 1,500 1,500
Accruals and deferred income 2,574 1,950
255,543 198,885

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
90,000 Ordinary A £0.01 900 900
10,000 Ordinary B £0.01 100 100
1,000 1,000

The Ordinary A shares have attached to them full voting, dividend and capital distribution (including on winding up) rights. They do no confer any rights of redemption.

The Ordinary B shares do not confer a right to receive notice of, attend or vote at any general meeting of the company or to receive and vote on any proposed written resolutions of the company. The shares have attached to them full dividend and capital distribution (including on winding up) rights. They do not confer any rights of redemption.

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2023 6,945 99,000 105,945
Deficit for the year (73,937 ) (73,937 )
At 31 December 2023 (66,992 ) 99,000 32,008

9. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £9,000 (2022: £8,250). Included in other creditors is the balance outstanding to the fund as at the year end of £1,500 (2022: £1,875).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

F Collman
Director

At the balance sheet date, there is an amount owed to the company from the director F Collman of £50,000 (2022: £nil). The amount is interest free, repayable on demand and included in debtors due within one year.

D Healy
Director until 06 March 2023

D Healy charged the company £25,000 for consultancy services prior to his resignation as a director of the company.

ICARE REAL ESTATE LIMITED (REGISTERED NUMBER: 13802916)

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


11. RELATED PARTY DISCLOSURES

Montreux Group Overseas Limited
Common control

During the year, the company advanced £305,000 to Montreux Group Overseas Limited (2022: £nil). £187,000 (2022: £nil) was repaid, resulting in £118,000 (2022: £nil) being due from Montreux Group Overseas Limited at the year end. The amount is interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is F Collman.

13. CHARGE

After the balance sheet date, but before the date of signing the financial statements, a charge containing a floating charge and a negative pledge was registered at Companies House.