ICL PROPERTY 1 LIMITED - Filleted accounts

Registered number

10791778

ICL PROPERTY 1 LIMITED

Unaudited Filleted Accounts

31 August 2025

ICL PROPERTY 1 LIMITED
Registered number:		10791778
Balance Sheet
as at 31 August 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		637,578			637,578

Current assets
Debtors	4	1			1
Cash at bank and in hand		24,958			6,970
		24,959			6,971

Creditors: amounts falling due within one year	5	(1,800)			(1,800)

Net current assets			23,159			5,171

Total assets less current liabilities			660,737			642,749

Creditors: amounts falling due after more than one year	6		(861,651)			(868,624)



Net liabilities			(200,914)			(225,875)

Capital and reserves
Called up share capital			1			1
Profit and loss account			(200,915)			(225,876)

Shareholders' funds			(200,914)			(225,875)

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.




Iain France
Director
Approved by the board on 18 May 2026

ICL PROPERTY 1 LIMITED
Notes to the Accounts
for the year ended 31 August 2025


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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Investments
	Investments in property is reflected at a cost and no depreciation is provided.

	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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees	2025		2024
Number			Number

	Average number of persons employed by the company	0		0


3	Tangible fixed assets
				Land and buildings
£
	Cost
	At 1 September 2024			637,578
	At 31 August 2025			637,578

	Depreciation
	At 31 August 2025			-

	Net book value
	At 31 August 2025			637,578
	At 31 August 2024			637,578


4	Debtors	2025		2024
£			£

	Other debtors	1		1


5	Creditors: amounts falling due within one year	2025		2024
£			£

	Other creditors	1,800		1,800


6	Creditors: amounts falling due after one year	2025		2024
£			£

	Bank loans	601,521		608,494
	Other creditors i.e. shareholders investments	260,130		260,130
		861,651		868,624


7	Loans	2025		2024
£			£
	Creditors include:
	Amounts payable otherwise than by instalment falling due for payment after more than five years	568,400		568,400


	Secured bank loans	568,400		568,400

	Bank loan is secured by a fixed charge over the investment property.


8	Other information

	ICL PROPERTY 1 LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	3 Havenpool
	Abbey Road
	London
	NW8 0BD