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REGISTERED NUMBER: 03176411 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Icon Property Corp Limited

Icon Property Corp Limited (Registered number: 03176411)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Icon Property Corp Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mrs E Anacreonte
R F Anacreonte





SECRETARY: Mrs E Anacreonte





REGISTERED OFFICE: Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE





REGISTERED NUMBER: 03176411 (England and Wales)





ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Icon Property Corp Limited (Registered number: 03176411)

Balance Sheet
31 August 2024

31/8/24 31/8/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,319 1,922
Investments 5 46,934 46,934
Investment property 6 1,075,000 1,550,000
1,123,253 1,598,856

CURRENT ASSETS
Debtors 7 636,859 626,708
Cash at bank 19,289 6,724
656,148 633,432
CREDITORS
Amounts falling due within one year 8 73,085 63,209
NET CURRENT ASSETS 583,063 570,223
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,706,316

2,169,079

CREDITORS
Amounts falling due after more than one
year

9

(296,219

)

(276,100

)

PROVISIONS FOR LIABILITIES (194,449 ) (197,559 )
NET ASSETS 1,215,648 1,695,420

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 10 1,037,048 1,393,298
Retained earnings 178,598 302,120
1,215,648 1,695,420

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.

Icon Property Corp Limited (Registered number: 03176411)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:




R F Anacreonte - Director



Mrs E Anacreonte - Director


Icon Property Corp Limited (Registered number: 03176411)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Icon Property Corp 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 represents amount receivable for rental services from the company's freehold properties, excluding discounts. Rental income is recognised to the extent that there is a right to consideration and is recorded at the value of the consideration due.

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 - 20% on cost

Investment property
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. The surplus or deficit on revaluation is recognised in the profit and loss account.

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 NIL (2023 - 2 ).

Icon Property Corp Limited (Registered number: 03176411)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 14,321
DEPRECIATION
At 1 September 2023 12,399
Charge for year 603
At 31 August 2024 13,002
NET BOOK VALUE
At 31 August 2024 1,319
At 31 August 2023 1,922

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2023
and 31 August 2024 46,934
NET BOOK VALUE
At 31 August 2024 46,934
At 31 August 2023 46,934

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 1,550,000
Revaluations (475,000 )
At 31 August 2024 1,075,000
NET BOOK VALUE
At 31 August 2024 1,075,000
At 31 August 2023 1,550,000

The fair values of the investment properties have been arrived at on the basis of valuations carried out at the balance sheet date by the directors. In their opinions the market values are not significantly different from that reflected in the financial statements.

Icon Property Corp Limited (Registered number: 03176411)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Amounts owed by group undertakings 561,019 550,868
Other debtors 75,840 75,840
636,859 626,708

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Bank loans and overdrafts 28,742 45,624
Trade creditors 1 1
Amounts owed to group undertakings 3,000 3,000
Taxation and social security 1,342 10,770
Other creditors 40,000 3,814
73,085 63,209

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/24 31/8/23
£    £   
Bank loans 296,219 276,100

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 181,842 111,421

10. RESERVES
Fair
value
reserve
£   
At 1 September 2023 1,393,298
Investment property revaluatio (356,250 )

At 31 August 2024 1,037,048

11. RELATED PARTY DISCLOSURES

The controlling party is Icon Holdings Group Limited.

The directors are the ultimate controlling parties.