IRIS Accounts Production v24.3.2.46 12034740 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh120347402023-06-30120347402024-06-30120347402023-07-012024-06-30120347402022-06-30120347402022-07-012023-06-30120347402023-06-3012034740ns15:EnglandWales2023-07-012024-06-3012034740ns14:PoundSterling2023-07-012024-06-3012034740ns10:Director12023-07-012024-06-3012034740ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3012034740ns10:SmallEntities2023-07-012024-06-3012034740ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3012034740ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3012034740ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3012034740ns10:FullAccounts2023-07-012024-06-3012034740ns10:Director22023-07-012024-06-3012034740ns10:RegisteredOffice2023-07-012024-06-3012034740ns5:CurrentFinancialInstruments2024-06-3012034740ns5:CurrentFinancialInstruments2023-06-3012034740ns5:Non-currentFinancialInstruments2024-06-3012034740ns5:Non-currentFinancialInstruments2023-06-3012034740ns5:ShareCapital2024-06-3012034740ns5:ShareCapital2023-06-3012034740ns5:RetainedEarningsAccumulatedLosses2024-06-3012034740ns5:RetainedEarningsAccumulatedLosses2023-06-3012034740ns5:FurnitureFittings2023-06-3012034740ns5:MotorVehicles2023-06-3012034740ns5:FurnitureFittings2023-07-012024-06-3012034740ns5:MotorVehicles2023-07-012024-06-3012034740ns5:FurnitureFittings2024-06-3012034740ns5:MotorVehicles2024-06-3012034740ns5:FurnitureFittings2023-06-3012034740ns5:MotorVehicles2023-06-3012034740ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3012034740ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3012034740ns5:DeferredTaxation2023-06-3012034740ns5:DeferredTaxation2024-06-30
REGISTERED NUMBER: 12034740 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

INDEPENDENT CAPITAL INVESTMENTS LTD

INDEPENDENT CAPITAL INVESTMENTS LTD (REGISTERED NUMBER: 12034740)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INDEPENDENT CAPITAL INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: M J Gidge
C Gidge





REGISTERED OFFICE: 55 Loudoun Road
St John's Wood
London
NW8 0DL





REGISTERED NUMBER: 12034740 (England and Wales)





ACCOUNTANTS: MGR Weston Kay LLP
Chartered Accountants
55 Loudoun Road
St John's Wood
London
NW8 0DL

INDEPENDENT CAPITAL INVESTMENTS LTD (REGISTERED NUMBER: 12034740)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 22,418 35,904
Investment property 5 2,818,100 2,818,100
2,840,518 2,854,004

CURRENT ASSETS
Debtors 6 13,943 9,073
Cash at bank 12,562 40,049
26,505 49,122
CREDITORS
Amounts falling due within one year 7 (64,195 ) (14,376 )
NET CURRENT (LIABILITIES)/ASSETS (37,690 ) 34,746
TOTAL ASSETS LESS CURRENT LIABILITIES 2,802,828 2,888,750

CREDITORS
Amounts falling due after more than one year 8 (2,719,574 ) (2,830,574 )

PROVISIONS FOR LIABILITIES 9 (4,849 ) (7,004 )
NET ASSETS 78,405 51,172

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 77,405 50,172
SHAREHOLDERS' FUNDS 78,405 51,172

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

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

INDEPENDENT CAPITAL INVESTMENTS LTD (REGISTERED NUMBER: 12034740)

BALANCE SHEET - continued
30 JUNE 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 Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





M J Gidge - Director


INDEPENDENT CAPITAL INVESTMENTS LTD (REGISTERED NUMBER: 12034740)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Independent Capital Investments 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.

2. ACCOUNTING POLICIES

Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents amounts receivable for rent.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:


Fixtures and fittings20% Straight Line
Motor vehicles25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

INDEPENDENT CAPITAL INVESTMENTS LTD (REGISTERED NUMBER: 12034740)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not
amortised.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

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

INDEPENDENT CAPITAL INVESTMENTS LTD (REGISTERED NUMBER: 12034740)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 24,328 34,479 58,807
DEPRECIATION
At 1 July 2023 16,438 6,465 22,903
Charge for year 4,866 8,620 13,486
At 30 June 2024 21,304 15,085 36,389
NET BOOK VALUE
At 30 June 2024 3,024 19,394 22,418
At 30 June 2023 7,890 28,014 35,904

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 2,818,100
NET BOOK VALUE
At 30 June 2024 2,818,100
At 30 June 2023 2,818,100

The properties were valued by the directors at the year end on an open market basis.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 13,943 9,073

INDEPENDENT CAPITAL INVESTMENTS LTD (REGISTERED NUMBER: 12034740)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 4,236 -
Taxation and social security 17,424 1,562
Other creditors 42,535 12,814
64,195 14,376

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Other creditors 2,719,574 2,830,574

9. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 4,849 7,004

Deferred
tax
£   
Balance at 1 July 2023 7,004
Movement during year (2,155 )
Balance at 30 June 2024 4,849

10. DIRECTORS' TRANSACTIONS

Included within creditors are amounts totalling £2,753,043 (2023: £2,830,574) advanced by a director of the company. Interest totalling £41,837 ( 2023: £42,458) was charged during the period at an interest rate of 1.50%.