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REGISTERED NUMBER: 10127507 (England and Wales)















IGN Estates Ltd

Unaudited Financial Statements for the Year Ended 30 April 2023






IGN Estates Ltd (Registered number: 10127507)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IGN Estates Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTOR: Mr O Ignatyev





REGISTERED OFFICE: 1 Narrowcliff
Newquay
London
TR7 2PS





REGISTERED NUMBER: 10127507 (England and Wales)





ACCOUNTANTS: Chris Syrimis & Co
Chartered Certified Accountants
97 Judd Street
London
WC1H 9JG

IGN Estates Ltd (Registered number: 10127507)

Balance Sheet
30 April 2023

30/4/23 30/4/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,133 20,746
18,133 20,746

CURRENT ASSETS
Debtors 6 1,819,371 2,208,187
Cash at bank 79 796
1,819,450 2,208,983
CREDITORS
Amounts falling due within one year 7 343,953 506,324
NET CURRENT ASSETS 1,475,497 1,702,659
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,493,630

1,723,405

CREDITORS
Amounts falling due after more than one
year

8

(3,275,330

)

(2,905,973

)

PROVISIONS FOR LIABILITIES - (3,942 )
NET LIABILITIES (1,781,700 ) (1,186,510 )

IGN Estates Ltd (Registered number: 10127507)

Balance Sheet - continued
30 April 2023

30/4/23 30/4/22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,781,800 ) (1,186,610 )
(1,781,700 ) (1,186,510 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2023 and were signed by:





Mr O Ignatyev - Director


IGN Estates Ltd (Registered number: 10127507)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

IGN Estates Ltd 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


IGN Estates Ltd (Registered number: 10127507)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
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 28 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2022
and 30 April 2023 261,320
AMORTISATION
At 1 May 2022
and 30 April 2023 261,320
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

The company embarked on development of a commercial website to be used as a sales tool for staff and to be accessible by paid members.

IGN Estates Ltd (Registered number: 10127507)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022 36,949
Additions 3,633
At 30 April 2023 40,582
DEPRECIATION
At 1 May 2022 16,203
Charge for year 6,246
At 30 April 2023 22,449
NET BOOK VALUE
At 30 April 2023 18,133
At 30 April 2022 20,746

6. DEBTORS
30/4/23 30/4/22
£    £   
Amounts falling due within one year:
Trade debtors 8,492 -

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,810,879 2,208,187

Aggregate amounts 1,819,371 2,208,187

The company has been incurring costs for the refurbishment of a hotel owned by a member within the Group. These costs 'Amounts owed by group undertaking' are being repaid over the next few years.

IGN Estates Ltd (Registered number: 10127507)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/23 30/4/22
£    £   
Bank loans and overdrafts 32,107 40,485
Trade creditors 3,740 50,069
Taxation and social security 241,253 185,150
Other creditors 66,853 230,620
343,953 506,324

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30/4/23 30/4/22
£    £   
Other creditors 3,275,330 2,905,973

Other creditors are loans obtained from BSI Global, a company registered and resident in Dubai. The loan is repayable in 5 years.

9. ULTIMATE CONTROLLING PARTY

The controlling party is IGN Group Holdings Ltd.