I.C.A.A. (Properties) Limited 03013734 false 2023-08-31 2024-08-30 2024-08-30 The principal activity of the company is property letting Digita Accounts Production Advanced 6.30.9574.0 true true 03013734 2023-08-31 2024-08-30 03013734 2024-08-30 03013734 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-30 03013734 core:FurnitureFittings 2024-08-30 03013734 bus:SmallEntities 2023-08-31 2024-08-30 03013734 bus:AuditExemptWithAccountantsReport 2023-08-31 2024-08-30 03013734 bus:FilletedAccounts 2023-08-31 2024-08-30 03013734 bus:SmallCompaniesRegimeForAccounts 2023-08-31 2024-08-30 03013734 bus:RegisteredOffice 2023-08-31 2024-08-30 03013734 bus:CompanySecretaryDirector2 2023-08-31 2024-08-30 03013734 bus:Director1 2023-08-31 2024-08-30 03013734 bus:Director3 2023-08-31 2024-08-30 03013734 bus:Director4 2023-08-31 2024-08-30 03013734 bus:Director5 2023-08-31 2024-08-30 03013734 bus:PrivateLimitedCompanyLtd 2023-08-31 2024-08-30 03013734 core:FurnitureFittings 2023-08-31 2024-08-30 03013734 countries:EnglandWales 2023-08-31 2024-08-30 03013734 2023-08-30 03013734 core:FurnitureFittings 2023-08-30 03013734 2022-08-31 2023-08-30 03013734 2023-08-30 03013734 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-30 03013734 core:FurnitureFittings 2023-08-30 iso4217:GBP xbrli:pure

Registration number: 03013734

I.C.A.A. (Properties) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 August 2024

 

I.C.A.A. (Properties) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

I.C.A.A. (Properties) Limited

Company Information

Directors

Mr B B Kelsey

Mrs S L Kelsey

Miss H L S Kelsey

Mr H W Kelsey

Mr A C Kelsey

Company secretary

Mrs S L Kelsey

Registered office

The Old Sun
52 East Street
Alresford
Hampshire
SO24 9EQ

Accountants

A J Wheeler Ltd - Trading as Howard Smith & Co
Chartered Certified Accountants
338 London Road
Portsmouth
Hampshire
PO2 9JY

 

I.C.A.A. (Properties) Limited

(Registration number: 03013734)
Balance Sheet as at 30 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,603

1,670

Investment property

5

614,459

729,845

 

616,062

731,515

Current assets

 

Cash at bank and in hand

 

5,587

19,005

Creditors: Amounts falling due within one year

6

(64,369)

(43,918)

Net current liabilities

 

(58,782)

(24,913)

Net assets

 

557,280

706,602

Capital and reserves

 

Called up share capital

2

2

Other reserves

-

7,363

Retained earnings

557,278

699,237

Shareholders' funds

 

557,280

706,602

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 May 2025 and signed on its behalf by:
 

.........................................

Mrs S L Kelsey
Company secretary and director

 

I.C.A.A. (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Old Sun
52 East Street
Alresford
Hampshire
SO24 9EQ

These financial statements were authorised for issue by the Board on 23 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company relies upon continued support from the directors.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

I.C.A.A. (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. Changes in fair value are recognised in the profit and loss account.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

I.C.A.A. (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 31 August 2023

60,195

60,195

Additions

334

334

At 30 August 2024

60,529

60,529

Depreciation

At 31 August 2023

58,525

58,525

Charge for the year

401

401

At 30 August 2024

58,926

58,926

Carrying amount

At 30 August 2024

1,603

1,603

At 30 August 2023

1,670

1,670

 

I.C.A.A. (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024

5

Investment properties

2024
£

At 31 August

729,845

Fair value adjustments

(101,007)

Foreign exchange movements

(14,379)

At 30 August

614,459

The investment properties have been valued by the directors. The historical cost of the investment properties is £722,482 (2023: £722,482).

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

13,000

13,000

Accruals and deferred income

 

2,492

2,497

Other creditors

 

48,877

28,421

 

64,369

43,918

7

Related party transactions

Other transactions with directors

The balance owed by the company to the directors as at 30 August 2024 amounting to £49,719 (2023 : £28,421) is shown as a current liability.