Iliad Homes Limited - Filleted accounts

Registered number

13168841

Iliad Homes Limited

Filleted Accounts

31 December 2024

Iliad Homes Limited
Registered number:		13168841
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		21,919,852			21,919,852

Current assets
Debtors	4	242,978			227,789
Cash at bank and in hand		56,339			77,604
		299,317			305,393

Creditors: amounts falling due within one year	5	(11,097,501)			(11,345,234)

Net current liabilities			(10,798,184)			(11,039,841)

Total assets less current liabilities			11,121,668			10,880,011

Creditors: amounts falling due after more than one year	6		(10,480,000)			(10,380,000)



Net assets			641,668			500,011

Capital and reserves
Called up share capital			1			1
Profit and loss account			641,667			500,010

Shareholders' funds			641,668			500,011

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




E Eleftheriou
Director
Approved by the board on 15 May 2025

Iliad Homes Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is the total amount of rent and other income receivable by the company and is attributable to the continuing activities of property investment. Turnover is recognised in the period to which it relates.

	Investment Property
	Investment property is measured at fair value at each reporting date with changes in fair value recognised in profit and loss.



	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			3		3


3	Tangible fixed assets
		Investment Property		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 January 2024	21,905,000		14,852		21,919,852
	At 31 December 2024	21,905,000		14,852		21,919,852

	Depreciation
	At 1 January 2024	-		-		-
	At 31 December 2024	-		-		-

	Net book value
	At 31 December 2024	21,905,000		14,852		21,919,852
	At 31 December 2023	21,905,000		14,852		21,919,852


4	Debtors			2024		2023
£					£

	Other debtors			242,978		227,789


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts (secured)			-		400,000
	Trade creditors			5,230		6,153
	Amounts owed to group undertakings and related undertakings			10,760,979		10,602,486
	Taxation and social security costs			70,170		88,436
	Other creditors			261,122		248,159
				11,097,501		11,345,234

	Amounts owed to group and related undertakings have no fixed date for repayment. Interest charged in relation to this balance during the period totalled £22,493 (8 months to December 2023 - £13,559).


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loans (secured)			10,480,000		10,380,000


7	Other information

	Iliad Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
	1 Staley Street
	Liverpool
	L1 6AA