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Company registration number: 11471438
ICH Properties Limited
Unaudited filleted financial statements
31 December 2024
ICH Properties Limited
Contents
Statement of financial position
Notes to the financial statements
ICH Properties Limited
Statement of financial position
31 December 2024
31/12/24 31/07/23
Note £ £ £ £
Fixed assets
Tangible assets 4 1,309,748 1,104,455
_______ _______
1,309,748 1,104,455
Current assets
Debtors 5 42,003 32,173
Cash at bank and in hand 12,790 16,105
_______ _______
54,793 48,278
Creditors: amounts falling due
within one year 6 ( 36,442) ( 4,388)
_______ _______
Net current assets 18,351 43,890
_______ _______
Total assets less current liabilities 1,328,099 1,148,345
Creditors: amounts falling due
after more than one year 7 ( 1,386,030) ( 1,148,324)
_______ _______
Net (liabilities)/assets ( 57,931) 21
_______ _______
Capital and reserves
Called up share capital 400 400
Profit and loss account ( 58,331) ( 379)
_______ _______
Shareholders (deficit)/funds ( 57,931) 21
_______ _______
For the period ending 31 December 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 financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 September 2025 , and are signed on behalf of the board by:
Mr J Plassard
Director
Company registration number: 11471438
ICH Properties Limited
Notes to the financial statements
Period ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Great Oaks, Lubbock Road, Chislehurst, Kent, BR7 5LA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At 31 December 2024 the company had excess liabilities over assets totalling £57,931. The company is dependent upon the continued financial support of the director and on the basis that this support is forthcoming, the director considers it appropriate for the financial statements to be prepared on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Freehold property Total
£ £
Cost
At 1 August 2023 1,104,455 1,104,455
Additions 205,293 205,293
_______ _______
At 31 December 2024 1,309,748 1,309,748
_______ _______
Depreciation
At 1 August 2023 and 31 December 2024 - -
_______ _______
Carrying amount
At 31 December 2024 1,309,748 1,309,748
_______ _______
At 31 July 2023 1,104,455 1,104,455
_______ _______
In the opinion of the Directors, the historical cost of the properties shown in the accounts is not materially different from the current market value of the properties.
Investment property
The directors have valued the property at the reporting date and consider the value to be unchanged to that of its purchase cost.
5. Debtors
31/12/24 31/07/23
£ £
Trade debtors 1,132 -
Other debtors 40,871 32,173
_______ _______
42,003 32,173
_______ _______
6. Creditors: amounts falling due within one year
31/12/24 31/07/23
£ £
Trade creditors 26,842 -
Corporation tax - 4,388
Other creditors 9,600 -
_______ _______
36,442 4,388
_______ _______
7. Creditors: amounts falling due after more than one year
31/12/24 31/07/23
£ £
Other creditors 1,386,030 1,148,324
_______ _______
8. Financial instruments
31/12/24 31/07/23
£ £
Financial assets measured at fair value through profit or loss
Investment properties 1,309,748 1,104,454
_______ _______
Financial liabilities measured at fair value through profit or loss
Trade Creditors 26,842 (-)
Other Creditors 4,500 (-)
Accruals and deferred income 5,100 (-)
_______ _______
36,442 -
_______ _______