Indian Community Centre (Property) Limit - Accounts to registrar (filleted)

REGISTERED NUMBER: 04536292 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

INDIAN COMMUNITY CENTRE (PROPERTY)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P S Bhapkar

J K Gajree

K Gorecha

J S Lehal

V S Mahal

B S Sanghera

G S Vohra

S Arunachalam

S Rai

SECRETARY:

S Arunachalam

REGISTERED OFFICE:

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

REGISTERED NUMBER:

04536292 (England and Wales)

ACCOUNTANTS:

Lemans

Chartered Certified Accountants

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

FIXED ASSETS

Tangible assets

4

-

Investment property

5

3,034,388

CURRENT ASSETS

Debtors

6

11,314

12,184

Cash at bank

536

632

11,850

12,816

CREDITORS

Amounts falling due within one year

7

924

882

NET CURRENT ASSETS

10,926

11,934

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,045,314

3,046,322

CREDITORS

Amounts falling due after more than one
year

8

(130,968

)

(138,768

)

PROVISIONS FOR LIABILITIES

(556,663

)

(556,663

)

NET ASSETS

2,357,683

2,350,891

CAPITAL AND RESERVES

Called up share capital

9

150,000

Revaluation reserve

10

2,437,273

Retained earnings

(229,590

)

(236,382

)

SHAREHOLDERS' FUNDS

2,357,683

2,350,891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 22 October 2025 and were signed on its behalf by:

J K Gajree - Director

1.	STATUTORY INFORMATION

Indian Community Centre (Property) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The accounts have been prepared under the going concern concept, however there is some uncertainty regarding the future viability of the company as explained in note 12.

Significant judgements and 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.

Critical accounting judgements and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates. During the preparation of these financial statements there have been no significant or material judgements and estimates that require disclosure.

Turnover

Turnover represents accrued rent and is recognised in the period to which it relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

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.

Investment property

Investment properties are included in the balance sheet at their fair value, fair value is considered to be open

market value. Gains and losses are recognized in the profit and loss account when they arise, which are transferred net of deferred tax to the fair value reserve.

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all the amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

136,225

181,407

317,632

DEPRECIATION

At 1 April 2024

and 31 March 2025

136,225

181,407

317,632

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

3,034,388

NET BOOK VALUE

At 31 March 2025

3,034,388

At 31 March 2024

3,034,388

Capital grant income has been offset against the cost of investment property improvements. In order that the carrying value of investment property reflects fair value, investment property improvements have previously been uplifted by the amount of capital grant income received and the uplifted amount was included within the revaluation reserve.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Amounts owed by group undertakings

11,314

12,184

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other creditors

924

882

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Amounts owed to group undertakings

100,968

108,768

The Puri Foundation

30,000

130,968

138,768

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

50,000

Ordinary A

£1

50,000

100,000

Ordinary B

£1

100,000

150,000

10.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

2,437,273

11.	RELATED PARTY DISCLOSURES

The company owed £100,968 to the Indian Community Centre Association at 31 March 2025 (£108,768 at 31 March 2024) and was owed £11,314 by ICCA Enterprises CIC, a wholly owned subsidiary of the Indian Community Centre Association, at 31 March 2025 (£12,184 at 31 March 2024).

12.	GOING CONCERN

There is some uncertainty regarding the future viability of the company as a going concern as the only activity is the rental income.