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Unaudited Financial Statements for the Year Ended 30 June 2023

for

IP3 Limited

IP3 Limited (Registered number: 06933791)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

IP3 Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: I R Selby



SECRETARY: Mr. A L Hanson



REGISTERED OFFICE: 1 Church Street
Kempsey
Worcester
Worcestershire
WR5 3JG



REGISTERED NUMBER: 06933791 (England and Wales)



ACCOUNTANTS: Alan Hanson
Aldon Accounting Services
1 Church Street
Kempsey
Worcester
Worcestershire
WR5 3JG



BANKERS: HSBC
PO Box 4
6 Broad Street
Worcester
Worcestershire
WR1 2EJ

IP3 Limited (Registered number: 06933791)

Statement of Financial Position
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 692 568

CURRENT ASSETS
Debtors 5 11,085 10,301
Prepayments and accrued income - 259
Cash at bank 3,414 638
14,499 11,198
CREDITORS
Amounts falling due within one year 6 5,180 4,046
NET CURRENT ASSETS 9,319 7,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,011

7,720

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 10,009 7,718
SHAREHOLDERS' FUNDS 10,011 7,720

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

IP3 Limited (Registered number: 06933791)

Statement of Financial Position - continued
30 June 2023


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 3 November 2023 and were signed by:





I R Selby - Director


IP3 Limited (Registered number: 06933791)

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

1. STATUTORY INFORMATION

IP3 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.
Computer equipment - 33% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

IP3 Limited (Registered number: 06933791)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2022 7,019
Additions 1,033
At 30 June 2023 8,052
DEPRECIATION
At 1 July 2022 6,451
Charge for year 909
At 30 June 2023 7,360
NET BOOK VALUE
At 30 June 2023 692
At 30 June 2022 568

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 6,640 2,236
Directors' current accounts 4,192 8,065
Prepayments 253 -
11,085 10,301

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Tax 2,400 2,760
VAT 2,425 833
Accrued expenses 355 453
5,180 4,046

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
IP3 Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IP3 Limited for the year ended 30 June 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the director of IP3 Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of IP3 Limited and state those matters that we have agreed to state to the director of IP3 Limited in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that IP3 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of IP3 Limited. You consider that IP3 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of IP3 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alan Hanson
Aldon Accounting Services
1 Church Street
Kempsey
Worcester
Worcestershire
WR5 3JG


3 November 2023