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REGISTERED NUMBER: 11023347 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

IKOS ASSETS LIMITED

IKOS ASSETS LIMITED (REGISTERED NUMBER: 11023347)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


IKOS ASSETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mrs A Tomadakis
Mr N Tomadakis





REGISTERED OFFICE: 122 Edgwarebury Lane
Edgware
HA8 8NB





REGISTERED NUMBER: 11023347 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

IKOS ASSETS LIMITED (REGISTERED NUMBER: 11023347)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 450,000 440,000

CURRENT ASSETS
Debtors 5 170 170
Cash at bank 4,361 10,192
4,531 10,362
CREDITORS
Amounts falling due within one year 6 5,408 3,127
NET CURRENT (LIABILITIES)/ASSETS (877 ) 7,235
TOTAL ASSETS LESS CURRENT
LIABILITIES

449,123

447,235

CREDITORS
Amounts falling due after more than one
year

7

(395,825

)

(395,825

)

PROVISIONS FOR LIABILITIES (17,000 ) (14,500 )
NET ASSETS 36,298 36,910

CAPITAL AND RESERVES
Called up share capital 1 1
Non-distributable reserves 44,772 43,572
Retained earnings (8,475 ) (6,663 )
36,298 36,910

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

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

IKOS ASSETS LIMITED (REGISTERED NUMBER: 11023347)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 14 May 2025 and were signed on its behalf by:




Mr N Tomadakis - Director



Mrs A Tomadakis - Director


IKOS ASSETS LIMITED (REGISTERED NUMBER: 11023347)

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

1. STATUTORY INFORMATION

Ikos Assets 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of rent receivable.

Investment property
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the profits for the financial year would have been decreased by the amount of depreciation.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2023 - NIL).

IKOS ASSETS LIMITED (REGISTERED NUMBER: 11023347)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 440,000
Additions 6,300
Revaluations 3,700
At 31 October 2024 450,000
NET BOOK VALUE
At 31 October 2024 450,000
At 31 October 2023 440,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2024 68,072
Cost 381,928
450,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 381,928 381,928

Investment property was valued on a fair value basis on 31 October 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 170 170

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,817 -
Other creditors 3,591 3,127
5,408 3,127

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 297,483 297,483
Other creditors 98,342 98,342
395,825 395,825

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years 297,483 297,483

IKOS ASSETS LIMITED (REGISTERED NUMBER: 11023347)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 297,483 297,483

The bank loan is secured by way of a legal charge over the investment property owned by the company.

9. RELATED PARTY DISCLOSURES

Included within creditor amounts falling due within one year, is an interest free amount of £809 (2023:£407) owed by N Tomadakis, the director of the company.

Included within creditors, amounts falling due after one year, is an interest free amount of £98,342 (2023: £98,342) due to A Tomadakis, the directors of the company.