Silverfin false 28/02/2023 01/03/2022 28/02/2023 Timothy James Hosking 05/02/2021 David Ward 02/03/2022 09 October 2023 The principal activity of the Company during the financial year was that of property rental. 13183359 2023-02-28 13183359 bus:Director1 2023-02-28 13183359 bus:Director2 2023-02-28 13183359 2022-02-28 13183359 core:CurrentFinancialInstruments 2023-02-28 13183359 core:CurrentFinancialInstruments 2022-02-28 13183359 core:Non-currentFinancialInstruments 2023-02-28 13183359 core:Non-currentFinancialInstruments 2022-02-28 13183359 core:ShareCapital 2023-02-28 13183359 core:ShareCapital 2022-02-28 13183359 core:RetainedEarningsAccumulatedLosses 2023-02-28 13183359 core:RetainedEarningsAccumulatedLosses 2022-02-28 13183359 core:Non-currentFinancialInstruments core:Secured 2023-02-28 13183359 bus:OrdinaryShareClass1 2023-02-28 13183359 2022-03-01 2023-02-28 13183359 bus:FullAccounts 2022-03-01 2023-02-28 13183359 bus:SmallEntities 2022-03-01 2023-02-28 13183359 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13183359 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13183359 bus:Director1 2022-03-01 2023-02-28 13183359 bus:Director2 2022-03-01 2023-02-28 13183359 2021-03-01 2022-02-28 13183359 core:CurrentFinancialInstruments 2022-03-01 2023-02-28 13183359 core:Non-currentFinancialInstruments 2022-03-01 2023-02-28 13183359 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 13183359 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13183359 (England and Wales)

IPERIUM PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

IPERIUM PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

IPERIUM PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 28 February 2023
IPERIUM PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 290,000 290,000
290,000 290,000
Current assets
Debtors 4 2,677 65,077
Cash at bank and in hand 65,338 5,727
68,015 70,804
Creditors: amounts falling due within one year 5 ( 207,888) ( 383,476)
Net current liabilities (139,873) (312,672)
Total assets less current liabilities 150,127 (22,672)
Creditors: amounts falling due after more than one year 6 ( 178,388) 0
Net liabilities ( 28,261) ( 22,672)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 28,361 ) ( 22,772 )
Total shareholders' deficit ( 28,261) ( 22,672)

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Iperium Property Limited (registered number: 13183359) were approved and authorised for issue by the Director on 09 October 2023. They were signed on its behalf by:

Timothy James Hosking
Director
IPERIUM PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
IPERIUM PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Iperium Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 8 Ardent Court, William James Way, Henley-In-Arden, B95 5GF, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 March 2022 290,000
As at 28 February 2023 290,000

Assumptions

These assumptions were arrived at taking account of information and advice from external property consultants, in-house property experts, publicly available data and judgement. A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements. The 2023 valuations were made by the directors, on an open market value for existing use basis.

Based on the knowledge known of such properties, the directors have confirmed that the property valuation is consistent to the value at the time of purchase in May 2021.

External independent valuations will be obtained on a regular basis to ensure that the valuations shown are in line with external valuations.

Historic cost

If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 290,000 290,000

4. Debtors

2023 2022
£ £
Deferred tax asset 2,677 2,397
Other debtors 0 62,680
2,677 65,077

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 15,355 196,189
Trade creditors 450 300
Amounts owed to Group undertakings 187,838 184,987
Other taxation and social security 1,814 0
Other creditors 2,431 2,000
207,888 383,476

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured £ 290,000) 178,388 0

The bank loans are secured on freehold property of the Company with a carrying value of £290,000 (2022: £290,000 ) and other assets.. Interest is payable monthly calculated on a daily basis.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Other related party transactions

2023 2022
£ £
Amounts owed to related parties with common ownership 183,124 184,988