Icon Property (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05797239 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2019

for

Icon Property (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Mohammed Rafiq

SECRETARY:

Mr Syed Akhtar

REGISTERED OFFICE:

16 Minstead Road

Birmingham

West Midlands

B24 8PT

REGISTERED NUMBER:

05797239 (England and Wales)

ACCOUNTANTS:

SKN Services Ltd

Chartered Accountants

SKN Business Centre

1 Guildford Street

Birmingham

West Midlands

B19 2HN

FIXED ASSETS

Tangible assets

4

376,456

294,675

CURRENT ASSETS

Debtors

5

-

173

Cash at bank and in hand

59

1,515

59

1,688

CREDITORS

Amounts falling due within one year

6

152,126

162,298

NET CURRENT LIABILITIES

(152,067

)

(160,610

)

TOTAL ASSETS LESS CURRENT LIABILITIES

224,389

134,065

CREDITORS

Amounts falling due after more than one year

7

206,411

118,989

NET ASSETS

17,978

15,076

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

17,878

14,976

SHAREHOLDERS' FUNDS

17,978

15,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 24 January 2020 and were signed by:

Mr Mohammed Rafiq - Director

1.	STATUTORY INFORMATION

Icon Property (UK) 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

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.

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.

Motor vehicles

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Motor

property

vehicles

Totals

£

£

£

COST

At 1 May 2018

294,675

8,346

303,021

Additions

134,129

-

134,129

Disposals

(52,348

)

-

(52,348

)

At 30 April 2019

376,456

8,346

384,802

DEPRECIATION

At 1 May 2018

and 30 April 2019

-

8,346

8,346

NET BOOK VALUE

At 30 April 2019

376,456

-

376,456

At 30 April 2018

294,675

-

294,675

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Other debtors

-

173

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade creditors

3,723

248

Taxation and social security

4,550

2,783

Other creditors

143,853

159,267

152,126

162,298

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.19

30.4.18

£

£

Bank loans

206,411

118,989

30.4.19

30.4.18

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 yr

97,483

-

Loan a/c 1110208

27,993

30,497

Loan a/c 5121107

80,935

88,492

206,411

118,989

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Mohammed Rafiq.