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Registered Number: 12654972
England and Wales

 

 

 

IAC PROPERTIES HOLDINGS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Directors I Ahmad
Mrs R Iftikhar
Registered Number 12654972
Registered Office Windfall House
D1 The Courtyard
St Albans
AL4 0LA
Accountants Windfall Accounting LLP
Windfall House, D1 The Courtyard
Alban Park Hatfield Road
St. Albans
AL4 0LA
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 275,014    275,014 
275,014    275,014 
Current assets      
Cash at bank and in hand 2,346    2,981 
Creditors: amount falling due within one year 4 (140,433)   (145,199)
Net current assets (138,087)   (142,218)
 
Total assets less current liabilities 136,927    132,796 
Creditors: amount falling due after more than one year 5 (128,495)   (128,495)
Net assets 8,432    4,301 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 8,332    4,201 
Shareholders' funds 8,432    4,301 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 March 2025 and were signed on its behalf by:


-------------------------------
I Ahmad
Director
2
General Information
IAC Properties Holdings LTD is a private company, limited by shares, registered in England and Wales, registration number 12654972, registration address Windfall House, D1 The Courtyard, St Albans, AL4 0LA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company has adequate resources and director support to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. No depreciation is to be provided.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 July 2023 275,014    275,014 
Additions  
Disposals  
At 30 June 2024 275,014    275,014 
Depreciation
At 01 July 2023  
Charge for year  
On disposals  
At 30 June 2024  
Net book values
Closing balance as at 30 June 2024 275,014    275,014 
Opening balance as at 01 July 2023 275,014    275,014 

Investment property consists of residential property & land and was valued on fair value basis by the directors as at 30 June 2024.

Total Investment Property cost = £275,014
Land Value at cost (included in above) = £63,909

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 1   
Amounts Owed to Related Companies 15,362    32,050 
Corporation Tax 969    985 
Other Loans 25,551    23,878 
Directors' Current Accounts 98,550    88,286 
140,433    145,199 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans (secured) 128,495    128,495 
128,495    128,495 

3