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Registration number: 13141011

Investment Property Portfolio Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 February 2022 to 31 March 2023

 

Investment Property Portfolio Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Investment Property Portfolio Ltd

Company Information

Directors

K Dendy

Mrs PS Dendy

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Investment Property Portfolio Ltd

(Registration number: 13141011)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

917

683

Investment property

5

300,695

-

 

301,612

683

Current assets

 

Debtors

6

2,011

73

Cash at bank and in hand

 

3,439

120,099

 

5,450

120,172

Creditors: Amounts falling due within one year

7

(161,477)

(134,055)

Net current liabilities

 

(156,027)

(13,883)

Total assets less current liabilities

 

145,585

(13,200)

Creditors: Amounts falling due after more than one year

7

(187,965)

-

Net liabilities

 

(42,380)

(13,200)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(42,382)

(13,202)

Shareholders' deficit

 

(42,380)

(13,200)

 

Investment Property Portfolio Ltd

(Registration number: 13141011)
Balance Sheet as at 31 March 2023

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 November 2023 and signed on its behalf by:
 

.........................................
K Dendy
Director

.........................................
Mrs PS Dendy
Director

 

Investment Property Portfolio Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the Board on 28 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Investment Property Portfolio Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 March 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipments

25% Straight line method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 1).

 

Investment Property Portfolio Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 March 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 February 2022

698

698

Additions

600

600

At 31 March 2023

1,298

1,298

Depreciation

At 1 February 2022

15

15

Charge for the period

366

366

At 31 March 2023

381

381

Carrying amount

At 31 March 2023

917

917

At 31 January 2022

683

683

5

Investment properties

2023
£

Additions

300,695

At 31 March

300,695

There has been no valuation of investment property by an independent valuer.

6

Debtors

2023
£

2022
£

Other debtors

2,011

23

Prepayments

-

50

2,011

73

 

Investment Property Portfolio Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

11,433

-

Accruals and deferred income

1,440

1,200

Other creditors

148,604

132,855

161,477

134,055

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

187,965

-

 

Investment Property Portfolio Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 March 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

187,965

-

10

Related party transactions

Transactions with directors

2023

At 1 February 2022
£

Repayments by director
£

At 31 March 2023
£

K Dendy

(132,855)

(15,749)

(148,604)

       
     

 

2022

At 18 January 2021
£

Advances to director
£

Repayments by director
£

At 31 January 2022
£

K Dendy

-

397

(133,252)

(132,855)