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 2021

for

Icon Property (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Mohammed Rafiq

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

386,456

386,456

CURRENT ASSETS

Debtors

5

-

11,960

Cash at bank and in hand

3,610

301

3,610

12,261

CREDITORS

Amounts falling due within one year

6

171,802

180,017

NET CURRENT LIABILITIES

(168,192

)

(167,756

)

TOTAL ASSETS LESS CURRENT LIABILITIES

218,264

218,700

CREDITORS

Amounts falling due after more than one year

7

195,174

196,764

NET ASSETS

23,090

21,936

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

22,990

21,836

SHAREHOLDERS' FUNDS

23,090

21,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 and authorised for issue on 18 January 2022 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Motor

property

vehicles

Totals

£

£

£

COST

At 1 May 2020

and 30 April 2021

386,456

8,346

394,802

DEPRECIATION

At 1 May 2020

and 30 April 2021

-

8,346

8,346

NET BOOK VALUE

At 30 April 2021

386,456

-

386,456

At 30 April 2020

386,456

-

386,456

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

-

11,960

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Taxation and social security

724

3,228

Other creditors

171,078

176,789

171,802

180,017

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans

195,174

196,764

30.4.21

30.4.20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 yr

97,032

97,472

Loan a/c 1110208

23,868

25,460

Loan a/c 5121107

68,274

73,832

189,174

196,764

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Mohammed Rafiq.