Icon Apartments Limited - Limited company accounts 11.6

Icon Apartments Limited - Limited company accounts 11.6

ICON APARTMENTS LIMITED - Company Information

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REGISTERED NUMBER: 06913328 (England and Wales)













REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2014

FOR

ICON APARTMENTS LIMITED

ICON APARTMENTS LIMITED (REGISTERED NUMBER: 06913328)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2014




Page

Company Information 1

Report of the Directors 2

Report of the Accountants 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6


ICON APARTMENTS LIMITED

COMPANY INFORMATION
For The Year Ended 31 May 2014







DIRECTORS: G Cumisky
E Echevarria
Mrs A Evans
E J Heldreich
R Lee
S Luca
Mrs L Gilman
D Patel





SECRETARY: Mortimer Secretaries Limited





REGISTERED OFFICE: C/O John Mortimer Property Man Ltd
Bagshot Road
Bracknell
Berkshire
RG12 9SE





REGISTERED NUMBER: 06913328 (England and Wales)





ACCOUNTANTS: Kirk Rice LLP
The Courtyard
High Street
Ascot
Berkshire
SL5 7HP
Page 1
ICON APARTMENTS LIMITED (REGISTERED NUMBER: 06913328)

REPORT OF THE DIRECTORS
For The Year Ended 31 May 2014

The directors present their report with the financial statements of the company for the year ended 31 May 2014.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the holding of the freehold property Icon
Apartments. The company is also responsible for the administration of variable service charges as agents of the statutory
trust for the lessees of the freehold property.

The company has ground rent receivable for the freehold it owns, all transactions in the year being related to the
maintenance of the common parts in accordance with the lease. Service charges collected are held on trust for the
purpose of meeting the relevant costs in relation to the property in accordance with the provision of section 42 of the
Landlord and Tenant Act 1987.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2013 to the date of this report.

G Cumisky
E Echevarria
Mrs A Evans
E J Heldreich
R Lee
S Luca
Mrs L Gilman
D Patel

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating
to small companies.

ON BEHALF OF THE BOARD:





J Mortimer, on behalf of
Mortimer Secretaries Limited - Secretary


21 January 2015

Page 2
ICON APARTMENTS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
ICON APARTMENTS LIMITED


As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended
31 May 2014 set out on pages four to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to
fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Kirk Rice LLP
The Courtyard
High Street
Ascot
Berkshire
SL5 7HP


9 February 2015

This page does not form part of the statutory financial statements

Page 3
ICON APARTMENTS LIMITED (REGISTERED NUMBER: 06913328)

PROFIT AND LOSS ACCOUNT
For The Year Ended 31 May 2014

2014 2013
Notes £    £   

TURNOVER 400 400

Administrative expenses 160 130
OPERATING PROFIT and
PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION
2
240
270

Tax on profit on ordinary activities 3 48 114
PROFIT FOR THE FINANCIAL YEAR 192 156

The notes form part of these financial statements

Page 4
ICON APARTMENTS LIMITED (REGISTERED NUMBER: 06913328)

BALANCE SHEET
31 May 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,000 39,000

CURRENT ASSETS
Debtors 5 1,219 1,033

CREDITORS
Amounts falling due within one year 6 39,048 39,054
NET CURRENT LIABILITIES (37,829 ) (38,021 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,171
979

RESERVES
Profit and loss account 7 1,171 979
1,171 979

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).


The financial statements were approved by the Board of Directors on 28 January 2015 and were signed on its behalf by:





E Echevarria - Director


The notes form part of these financial statements

Page 5
ICON APARTMENTS LIMITED (REGISTERED NUMBER: 06913328)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2014

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents ground rents receivable.

Service charges
The company is responsible for the management of Icon Apartments and collects service charges from lessees in
order to fund expenditure incurred in the management of the property. These service charge funds are held in
trust for the lessees as required by the Landlord and Tenant Act 1987. Transactions relating to the management
of the property are reported separately to the lessees and are excluded from the company's financial statements.

Tangible fixed assets
Freehold buildings are depreciated to write down the cost less estimated residual value over the remaining useful
life by equal instalments. Where buildings are maintained to such a standard that their estimated residual value is
not less than their cost or valuation, no depreciation is charged as it is not material.

2. OPERATING PROFIT

The operating profit is stated after charging:

2014 2013
£    £   

Directors' remuneration and other benefits etc - -

3. TAXATION

Analysis of the tax charge
The tax charge on the profit on ordinary activities for the year was as follows:
2014 2013
£    £   
Current tax:
UK corporation tax 48 114
Tax on profit on ordinary activities 48 114

4. TANGIBLE FIXED ASSETS
Freehold
£   
COST
At 1 June 2013
and 31 May 2014 39,000
NET BOOK VALUE
At 31 May 2014 39,000
At 31 May 2013 39,000

Page 6 continued...
ICON APARTMENTS LIMITED (REGISTERED NUMBER: 06913328)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2014

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2014 2013
£    £   
Icon Apartments service charge
fund 1,219 1,033
1,219 1,033

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2014 2013
£    £   
Tax 48 54
Other creditors 39,000 39,000
39,048 39,054

7. RESERVES
Profit
and loss
account
£   

At 1 June 2013 979
Profit for the year 192
At 31 May 2014 1,171


Page 7