Registered number
11746914
Ivolve Properties Limited
Unaudited Filleted Accounts
31 January 2023
Ivolve Properties Limited
Registered number: 11746914
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 222,832 222,832
222,832 222,832
Current assets
Cash at bank and in hand 718 1,647
718 1,647
Creditors: amounts falling due within one year 4 (71,866) (71,865)
Net current liabilities (71,148) (70,218)
Total assets less current liabilities 151,684 152,614
Creditors: amounts falling due after more than one year 5 (153,430) (153,430)
Provisions for liabilities - -
Net liabilities (1,746) (816)
Capital and reserves
Called up share capital 100 100
Profit and loss account (1,846) (916)
Shareholders' funds (1,746) (816)
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.
Mrs. S. Dham
Director
Approved by the board on 1 March 2023
Ivolve Properties Limited
Notes to the Accounts
for the year ended 31 January 2023
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. Turnover includes revenue earned from the rental of real estate. Turnover from the rental real estate is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by reviewing the rental agreement.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investment Property
Investments property acquired to earn rentals and/or capital appreciation in initially recognised at cost, which included the purchase prices and any directly attributable expenditure. Subsequently it is measured at the fair value at the end of the reporting date. the surplus or deficit on revaluation is recognised in the profit or loss account.
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 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Investment Property Total
£ £
Cost or valuation
At 1 February 2022 222,832 222,832
Additions - -
Surplus on revaluation - -
Disposals - -
At 31 January 2023 222,832 222,832
Depreciation
At 1 February 2022 - -
Charge for the year - -
Surplus on revaluation - -
On disposals - -
At 31 January 2023 - -
Net book value
At 31 January 2023 222,832 222,832
At 31 January 2022 222,832 222,832
Freehold land and buildings: 2023 2022
£ £
Historical cost 222,832 222,832
Cumulative depreciation based on historical cost - -
222,832 222,832
The director is in the opinion that the fair value of the investment properties has remained the same as acquisition costs. This opinion was ascertained based on similar properties in the locality and reviews conducted on an open market valuation of a freehold basis.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 71,866 71,865
71,866 71,865
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 153,430 153,430
153,430 153,430
6 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 153,430 153,430
153,430 153,430
Secured bank loans 153,430 153,430

Security is given against the freehold interest of the investment property.
7 Other information
Ivolve Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Grange Gardens
Pinner
London
HA5 5QE
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