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REGISTERED NUMBER: 09621508 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

ICG PROPERTIES (DORSET) LIMITED

ICG PROPERTIES (DORSET) LIMITED (REGISTERED NUMBER: 09621508)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Balance sheet 1

Notes to the financial statements 3


ICG PROPERTIES (DORSET) LIMITED (REGISTERED NUMBER: 09621508)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,550 4,260
Investment property 5 3,700,000 3,600,000
3,703,550 3,604,260

Current assets
Debtors 6 7,639 8,119
Cash at bank 51,826 37,136
59,465 45,255
Creditors
Amounts falling due within one year 7 299,432 161,038
Net current liabilities (239,967 ) (115,783 )
Total assets less current liabilities 3,463,583 3,488,477

Creditors
Amounts falling due after more than one year 8 (1,303,892 ) (1,538,043 )

Provisions for liabilities 10 (218,078 ) (193,078 )
Net assets 1,941,613 1,757,356

Capital and reserves
Called up share capital 11 100 100
Fair value reserve 12 724,651 649,651
Retained earnings 1,216,862 1,107,605
Shareholders' funds 1,941,613 1,757,356

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

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

ICG PROPERTIES (DORSET) LIMITED (REGISTERED NUMBER: 09621508)

BALANCE SHEET - continued
31 AUGUST 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 January 2025 and were signed on its behalf by:




Mr I C Wagstaff - Director



Mr S Wagstaff - Director


ICG PROPERTIES (DORSET) LIMITED (REGISTERED NUMBER: 09621508)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. Statutory information

ICG Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09621508. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is Unit 4 Haviland Road, Ferndown Industrial Estate, Wimborne, Dorset BH21 7RF.

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.

Turnover
Turnover represents amounts receivable for the period for properties let under formal leases, net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from change in fair value is recognised in the statement of comprehensive income.

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 taxation
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
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

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

ICG PROPERTIES (DORSET) LIMITED (REGISTERED NUMBER: 09621508)

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


4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 September 2023
and 31 August 2024 7,100
Depreciation
At 1 September 2023 2,840
Charge for year 710
At 31 August 2024 3,550
Net book value
At 31 August 2024 3,550
At 31 August 2023 4,260

5. Investment property
Total
£   
Fair value
At 1 September 2023 3,600,000
Revaluations 100,000
At 31 August 2024 3,700,000
Net book value
At 31 August 2024 3,700,000
At 31 August 2023 3,600,000

Units 2, 4, 6 and 8 were professionally valued by Symonds & Sampson on 10 October 2024, the directors confirm these valuations also represent their true fair value at the Balance Sheet date.

Units 10 and 12 were valued by the directors at the balance sheet date based on their market values.

Investment properties will be valued at fair value in future years with changes in fair value taken to the fair value reserve.

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 7,183 7,183
Other debtors 3 -
VAT - 521
Prepayments and accrued income 453 415
7,639 8,119

ICG PROPERTIES (DORSET) LIMITED (REGISTERED NUMBER: 09621508)

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


7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 238,094 119,700
Trade creditors - 143
Tax 35,848 19,837
Directors' current accounts 7,790 3,762
Accruals and deferred income 17,700 17,596
299,432 161,038

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 113,340 119,700
Bank loans - 2-5 years 340,020 359,100
Bank loans more 5 yr by instal 850,532 1,059,243
1,303,892 1,538,043

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 850,532 1,059,243

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,541,986 1,657,743

Amounts owed to Lloyds Bank PLC are secured by way of:
- An Omnibus Guarantee and Set-off Agreement dated 15 July 2015,
- A Debenture dated 15 July 2015,
- A Mortgage over Unit 10 Haviland Road, Ferndown Industrial Estate BH21 7RF dated 30 July 2015,
- A Mortgage over Unit 8 Haviland Road, Ferndown Industrial Estate BH21 7RF dated 3 May 2016,
- A Mortgage over Unit 4 Haviland Road, Ferndown Industrial Estate BH21 7RF dated 3 November 2016,
- A Mortgage over Unit 2 Haviland Road, Ferndown Industrial Estate BH21 7RF dated 14 July 2017,
- A Mortgage over Unit 6 Haviland Road, Ferndown Industrial Estate BH21 7RF dated 3 October 2019,
- A Mortgage over Unit 12 Haviland Road, Ferndown Industrial Estate BH21 7RF dated 1 September 2023.

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 218,078 193,078

ICG PROPERTIES (DORSET) LIMITED (REGISTERED NUMBER: 09621508)

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


10. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 September 2023 193,078
Provided during year 25,000
Balance at 31 August 2024 218,078

11. Called up share capital

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

12. Reserves
Fair
value
reserve
£   
At 1 September 2023 649,651
Property revaluation 75,000

At 31 August 2024 724,651

13. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Mr I C Wagstaff
Balance outstanding at start of year - 79,388
Amounts repaid - (79,388 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

14. Ultimate controlling party

The company is controlled by its Directors and their wives who between them own 100% of the issued share capital.