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REGISTERED NUMBER: 10591804 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

ICONIQ HOMES LTD

ICONIQ HOMES LTD (REGISTERED NUMBER: 10591804)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ICONIQ HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: J Netherton





REGISTERED OFFICE: 2 The Links
HERNE BAY
Kent
CT6 7GQ





BUSINESS ADDRESS: 46 Preston Parade
Seasalter
Whitstable
Kent
CT5 4AQ





REGISTERED NUMBER: 10591804 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
2 The Links
HERNE BAY
Kent
CT6 7GQ

ICONIQ HOMES LTD (REGISTERED NUMBER: 10591804)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,666 8,025
Investment property 6 220,000 200,000
226,666 208,025

CURRENT ASSETS
Stocks 2,643,580 2,751,068
Debtors 7 28,840 13,971
Cash at bank and in hand 379,825 411,771
3,052,245 3,176,810
CREDITORS
Amounts falling due within one year 8 2,525,658 2,847,940
NET CURRENT ASSETS 526,587 328,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

753,253

536,895

CREDITORS
Amounts falling due after more than one
year

9

(59,218

)

(22,500

)

PROVISIONS FOR LIABILITIES (26,787 ) (22,045 )
NET ASSETS 667,248 492,350

CAPITAL AND RESERVES
Called up share capital 10 150 150
Fair value reserve 11 102,480 87,480
Retained earnings 564,618 404,720
SHAREHOLDERS' FUNDS 667,248 492,350

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

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

ICONIQ HOMES LTD (REGISTERED NUMBER: 10591804)

BALANCE SHEET - continued
31ST 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 director and authorised for issue on 5th November 2024 and were signed by:





J Netherton - Director


ICONIQ HOMES LTD (REGISTERED NUMBER: 10591804)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Iconiq Homes 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. 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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

ICONIQ HOMES LTD (REGISTERED NUMBER: 10591804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2023 17,449 1,651 19,100
Additions - 1,047 1,047
At 31st March 2024 17,449 2,698 20,147
DEPRECIATION
At 1st April 2023 10,088 987 11,075
Charge for year 1,840 566 2,406
At 31st March 2024 11,928 1,553 13,481
NET BOOK VALUE
At 31st March 2024 5,521 1,145 6,666
At 31st March 2023 7,361 664 8,025

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 200,000
Revaluations 20,000
At 31st March 2024 220,000
NET BOOK VALUE
At 31st March 2024 220,000
At 31st March 2023 200,000

The investment property was valued by the Director, with advice from local agents and their own knowledge of the property market.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 28,840 13,971

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 39,282 10,000
Trade creditors 61,631 35,838
Taxation and social security 53,041 300
Other creditors 2,371,704 2,801,802
2,525,658 2,847,940

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 59,218 22,500

ICONIQ HOMES LTD (REGISTERED NUMBER: 10591804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
50 Ordinary A £1 50 50
150 150

11. RESERVES
Fair
value
reserve
£   
At 1st April 2023 87,480
Transfer to Fair Value Reserve 15,000

At 31st March 2024 102,480