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Registered number: 10973197 THE PROPERTY I C LIMITED Unaudited Financial statements Information for filing with the registrar for the year ended 30 September 2025
THE PROPERTY I C LIMITED Registered number: 10973197 Balance sheet as at 30 September 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 25,662 |  | 25,939 |
Cash at bank and in hand | 6 | 3,168 |  | 8,613 |
|  | 28,830 |  | 34,552 |
Creditors: amounts falling due within one year | 7 | (62,439) |  | (59,060) |
Net current liabilities |  |  | (33,609) |  | (24,508)
Total assets less current liabilities |  |  | (33,609) |  | (24,508)
Creditors: amounts falling due after more than one year | 8 |  | - |  | (8,237)
Net liabilities |  |  | (33,609) |  | (32,745)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | (33,709) |  | (32,845)
|  |  | (33,609) |  | (32,745)
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THE PROPERTY I C LIMITED Registered number: 10973197 Balance sheet (continued) as at 30 September 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr A Chohan | Mr D Strettle
Director | Director
Date: 13 March 2026 |
The notes on pages 3 to 6 form part of these financial statements. Page 2
THE PROPERTY I C LIMITED Notes to the financial statements for the year ended 30 September 2025
1. | General information
The Property I C Limited (company number 10973197) is a private company limited by shares registered in England and Wales. Its registered office is at 31a Hale Road, Altrincham, WA14 2EY. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.3 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.4 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 20% | Straight Line
|  |  |  | Office equipment | - | 33% | Straight Line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 3
THE PROPERTY I C LIMITED Notes to the financial statements for the year ended 30 September 2025 2.Accounting policies (continued)
| 2.6 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.7 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.8 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
4. | Tangible fixed assets
|  | Motor vehicles | Office equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 October 2024 | 22,908 | 231 | 23,139
| At 30 September 2025 | 22,908 | 231 | 23,139
| Depreciation |  |  |
| At 1 October 2024 | 22,908 | 231 | 23,139
| At 30 September 2025 | 22,908 | 231 | 23,139
| Net book value |  |  |
| At 30 September 2025 | - | - | -
| At 30 September 2024 | - | - | -
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THE PROPERTY I C LIMITED Notes to the financial statements for the year ended 30 September 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 24,602 | 25,939
| Prepayments and accrued income | 1,060 | -
|  | 25,662 | 25,939
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 3,168 | 8,613
|  | 3,168 | 8,613
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 10,000
| Trade creditors | - | 913
| Other taxation and social security | - | 3,867
| Other creditors | 62,439 | 44,280
|  | 62,439 | 59,060
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 8,237
|  | - | 8,237
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THE PROPERTY I C LIMITED Notes to the financial statements for the year ended 30 September 2025
9. | Related party transactions
| Included within debtors due within one year is a loan due from PIC Grove Lane Limited in the amount of £2,000 (2024: £2,000). No interest has been charged in respect of this loan which is repayable on demand. PIC Grove Lane Limited is a company incorporated in England and Wales, which is owned by The PIC Holdings Group Limited, in which the directors own and control. Included within creditors due within one year is a loan due to The PIC Holdings Group Limited in the amount of £28,280 (2024: £24,280). No interest has been charged in respect of this loan which is repayable on demand. The PIC Holdings Group Limited is a company incorporated in England and Wales, in which the directors own and control. Included within creditors due within one year is a loan due to PIC Park Road 2 Limited in the amount of £25,000 (2024: £20,000). No interest has been charged in respect of this loan which is repayable on demand. PIC Park Road 2 Limited is a company incorporated in England and Wales, which is owned by The PIC Holdings Group Limited, in which the directors own and control. Included within creditors due within one year is a loan due to PIC Park Road Limited in the amount of £9,158 (2024: £0). No interest has been charged in respect of this loan which is repayable on demand. PIC Park Road Limited is a company incorporated in England and Wales, which is owned by The PIC Holdings Group Limited, in which the directors own and control. At 30 September 2025 the company was owed £16,500 (2024: £16,500) from the directors. Interest has been charged to the company in respect of this loan in the amount of £378 (2024: £378).
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