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REGISTERED NUMBER: 09753727 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 September 2024

for

ICL (Properties) Limited

ICL (Properties) Limited (Registered number: 09753727)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ICL (Properties) Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: I Lanch





SECRETARY: Miss J Evison





REGISTERED OFFICE: 16 Trinity Lane
Beverley
HU17 0DY





REGISTERED NUMBER: 09753727 (England and Wales)





ACCOUNTANTS: Try Lunn & Co
Chartered Accountants
Roland House
Princes Dock Street
Hull
HU1 2LD

ICL (Properties) Limited (Registered number: 09753727)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 534 860
Investment property 5 752,005 752,005
752,539 752,865

CURRENT ASSETS
Debtors 6 6,083 8,549
Cash at bank 212,683 247,401
218,766 255,950
CREDITORS
Amounts falling due within one year 7 501,031 570,920
NET CURRENT LIABILITIES (282,265 ) (314,970 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

470,274

437,895

CAPITAL AND RESERVES
Called up share capital 8 2,100 2,100
Retained earnings 9 468,174 435,795
SHAREHOLDERS' FUNDS 470,274 437,895

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 15 November 2024 and were signed by:




I Lanch - Director


ICL (Properties) Limited (Registered number: 09753727)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

ICL (Properties) 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.

The company is dependant on the continued financial support of the Director who has agreed to provide such support to ensure the company will be able to trade as a going concern for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

Turnover
Turnover represents rents received from properties owned by the company.

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 - 33% on cost

Investment property
Investment property is shown at fair value.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

ICL (Properties) Limited (Registered number: 09753727)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 1,835
Additions 124
At 30 September 2024 1,959
DEPRECIATION
At 1 October 2023 975
Charge for year 450
At 30 September 2024 1,425
NET BOOK VALUE
At 30 September 2024 534
At 30 September 2023 860

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 752,005
NET BOOK VALUE
At 30 September 2024 752,005
At 30 September 2023 752,005

The properties were valued by the Director at 30 September 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,628 5,625
Other debtors 455 2,924
6,083 8,549

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 7,700 19,945
Other creditors 493,331 550,975
501,031 570,920

ICL (Properties) Limited (Registered number: 09753727)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,100 A 1.00 1,100 1,100
500 B 1.00 500 500
500 C 1.00 500 500
2,100 2,100

Each share is entitled to one vote in any circumstances, the company may declare a dividend to the exclusion of shares of other classes or at different rates, and are entitled pari passu to participate in a distribution arising from a winding up of the company.

9. RESERVES
Retained
earnings
£   

At 1 October 2023 435,795
Profit for the year 32,379
At 30 September 2024 468,174

10. RELATED PARTY DISCLOSURES

At the 30 September 2024 an amount of £475,023 (2023: £532,745) was owed to Mr I Lanch who is a director and shareholder the company.

During the the year the company received rent of £7,800 (2023: £7,800) from Mr I Lanch, this transaction was at arms length and the rent received was at a market rate.

11. ULTIMATE CONTROLLING PARTY

The controlling party is I Lanch.