Icon Property Investment Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04436373 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Icon Property Investment Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

6

DIRECTOR:

L B Gozlan

SECRETARY:

Kingsland (Services) Limited

REGISTERED OFFICE:

20 North Audley Street

London

W1K 6WE

REGISTERED NUMBER:

04436373 (England and Wales)

AUDITORS:

Bourner Bullock, Chartered Accountants

114 St Martin's Lane

Covent Garden

London

WC2N 4BE

FIXED ASSETS

Tangible assets

4

-

Investments

5

8,000

Investment property

6

850,000

858,000

CURRENT ASSETS

Debtors

7

1,825

10,577

Cash at bank

17,279

9,223

19,104

19,800

CREDITORS

Amounts falling due within one year

8

846,385

824,511

NET CURRENT LIABILITIES

(827,281

)

(804,711

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

30,719

53,289

CREDITORS

Amounts falling due after more than one year

9

24,561

39,045

NET ASSETS

6,158

14,244

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

5,158

13,244

6,158

14,244

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 September 2025 and were signed by:

L B Gozlan - Director

1.	STATUTORY INFORMATION

Icon Property Investment 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

Statement of compliance

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

25% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any differences in the nature, location, or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Other fixed asset investment

Investment in unlisted company shares, whose market value can be reliably determined, are subsequently measured at fair value, with changes in fair value recognised in the profit or loss. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Taxation

Taxation for the year comprises current and deferred tax. 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 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.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment,

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

2,341

Disposals

(2,341

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

2,341

Eliminated on disposal

(2,341

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

The net book value of tangible fixed assets at 31 December 2024 was £Nil.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

8,000

NET BOOK VALUE

At 31 December 2024

8,000

At 31 December 2023

8,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

850,000

NET BOOK VALUE

At 31 December 2024

850,000

At 31 December 2023

850,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

-

78

Other debtors

1,825

10,499

1,825

10,577

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

15,750

13,781

Trade creditors

(1

)

295

Amounts owed to group undertakings

825,225

803,923

Other creditors

5,411

6,512

846,385

824,511

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

24,561

39,045

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Russell Joseph (Senior Statutory Auditor)

for and on behalf of Bourner Bullock, Chartered Accountants

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

L B Gozlan

Balance outstanding at start of year

-

Amounts advanced

(1

)

-

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(1

)

-

12.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Costa Real sarl a company incorporated in Luxembourg. The Company is ultimately controlled by F Gozlan, C Gozlan, LB Gozlan, H Gozlan and M Gozlan.