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REGISTERED NUMBER: 11387228 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Imperial Global Property Ltd.

Imperial Global Property Ltd. (Registered number: 11387228)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Imperial Global Property Ltd.

Company Information
for the Year Ended 31 May 2023







DIRECTORS: C M Franklin
Mrs J Franklin



REGISTERED OFFICE: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
GL3 3RS



REGISTERED NUMBER: 11387228 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Barclays Bank Plc
Leicester
LE87 2BB

Imperial Global Property Ltd. (Registered number: 11387228)

Statement of Financial Position
31 May 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 250,000 237,000

CURRENT ASSETS
Debtors 5 15,881 600
Cash at bank 6,017 1,216
21,898 1,816
CREDITORS
Amounts falling due within one year 6 1,898 35,923
NET CURRENT ASSETS/(LIABILITIES) 20,000 (34,107 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,000

202,893

CREDITORS
Amounts falling due after more than one
year

7

(188,035

)

(128,984

)

PROVISIONS FOR LIABILITIES (15,559 ) (13,089 )
NET ASSETS 66,406 60,820

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 66,332 55,802
Retained earnings 73 5,017
SHAREHOLDERS' FUNDS 66,406 60,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

Imperial Global Property Ltd. (Registered number: 11387228)

Statement of Financial Position - continued
31 May 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 Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





C M Franklin - Director


Imperial Global Property Ltd. (Registered number: 11387228)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

Imperial Global Property 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

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 NIL (2022 - NIL).

Imperial Global Property Ltd. (Registered number: 11387228)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 June 2022 237,000
Revaluations 13,000
At 31 May 2023 250,000
Net book value
At 31 May 2023 250,000
At 31 May 2022 237,000

Although a formal revaluation has not taken place during the year, the directors have reviewed the local property market and the sale of similar properties. Further to this review, the fair value of the investment properties have increased as reflected above.

If the investment properties had not been revalued, they would have been included at a historical cost of £168,109 (2022 - £168,109).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 300 500
Other debtors 15,581 100
15,881 600

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade creditors 690 -
Taxation and social security 429 1,183
Other creditors 779 34,740
1,898 35,923

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/23 31/5/22
£    £   
Bank loans 188,035 128,984

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 188,035 128,984

Imperial Global Property Ltd. (Registered number: 11387228)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

31/5/23 31/5/22
£    £   
Bank loans 188,035 128,984

The bank loan is secured by fixed charges over the company's investment properties.

9. RELATED PARTY DISCLOSURES

C M Franklin and Mrs J Franklin
Directors

In the year loans have existed between the directors and the company. At 31 May 2023, the directors owed £13,781 to the company (2022 - £32,751owed to the directors from the company). The loan is interest free and has no fixed repayment terms.


Imperial Global Ltd
Company controlled by the directors C M Franklin and Mrs J Franklin

Imperial Global Ltd has loaned, and borrowed funds from the company. At 31 May 2023 the company was owed £1,700 from Imperial Global Ltd (2022 - £1,300 owed to Imperial Global Ltd). The loan is interest free with no fixed repayment terms.