Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31false2022-06-01The company is an investment and development company. Properties are purchased with the intention that they will be held for their investment potential.2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14121310 2022-05-31 14121310 2022-06-01 2023-05-31 14121310 2021-06-01 2022-05-31 14121310 2023-05-31 14121310 c:Director1 2022-06-01 2023-05-31 14121310 d:CurrentFinancialInstruments 2023-05-31 14121310 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14121310 d:ShareCapital 2023-05-31 14121310 d:RetainedEarningsAccumulatedLosses 2023-05-31 14121310 c:OrdinaryShareClass1 2022-06-01 2023-05-31 14121310 c:OrdinaryShareClass1 2023-05-31 14121310 c:FRS102 2022-06-01 2023-05-31 14121310 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 14121310 c:FullAccounts 2022-06-01 2023-05-31 14121310 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 14121310 e:PoundSterling 2022-06-01 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14121310














IVES STREET DEVELOPMENTS SEVEN LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2023

 
IVES STREET DEVELOPMENTS SEVEN LIMITED
REGISTERED NUMBER:14121310

BALANCE SHEET
AS AT 31 MAY 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,016

Cash at bank and in hand
  
1,051,377

  
1,052,393

Creditors: amounts falling due within one year
 5 
(1,063,104)

Net current liabilities
  
 
 
(10,711)

Total assets less current liabilities
  
(10,711)

  

Net liabilities
  
(10,711)


Capital and reserves
  

Called up share capital 
 6 
4

Profit and loss account
  
(10,715)

  
(10,711)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J A Smith
Director

Date: 12 September 2023

Page 1

 
IVES STREET DEVELOPMENTS SEVEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

Ives Street Developments Seven Limited is a private company, limited by shares, registered in England and Wales, registration number 14121310. The registered office address is 25 Ives Street, London, SW3 2ND.

The company is an investment and development company. Properties are purchased with the intention that they will be held for their investment potential.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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IVES STREET DEVELOPMENTS SEVEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, other creditors and loans with related parties.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Debtors

2023
£


Other debtors
4

Prepayments and accrued income
1,012

1,016



5.


Creditors: amounts falling due within one year

2023
£

Other creditors
1,062,104

Accruals and deferred income
1,000

1,063,104


Page 3

 
IVES STREET DEVELOPMENTS SEVEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

6.


Share capital

2023
£
Allotted, called up and fully paid


400 Ordinary shares of £0.01 each
4


On incorporation the company issued 400 ordinary shares at nominal value.
There are no restrictions on the distribution of dividends and the repayment of capital.

 
Page 4