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Company No: 02475018 (England and Wales)

I G P HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

I G P HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

I G P HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2023
I G P HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 450 450
450 450
Current assets
Debtors 4 7,321 9,821
Cash at bank and in hand 1,619 1,619
8,940 11,440
Creditors: amounts falling due within one year 5 ( 2,850) ( 2,100)
Net current assets 6,090 9,340
Total assets less current liabilities 6,540 9,790
Net assets 6,540 9,790
Capital and reserves
Called-up share capital 6 1,000,000 1,000,000
Profit and loss account ( 993,460 ) ( 990,210 )
Total shareholders' funds 6,540 9,790

For the financial year ending 31 July 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 I G P Holdings Limited (registered number: 02475018) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J C Dwek
Director

03 April 2024

I G P HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
I G P HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 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

I G P Holdings 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 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

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.

Fixed asset investments

Investments in joint ventures are measured at cost less accumulated impairment

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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from third parties and loans to and from related parties.

Financial assets
Basic financial assets, including other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Fixed asset investments

Investments in joint ventures Total
£ £
Cost or valuation before impairment
At 01 August 2022 450 450
At 31 July 2023 450 450
Carrying value at 31 July 2023 450 450
Carrying value at 31 July 2022 450 450

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.07.2023
Ownership
31.07.2022
Moonraker Alley Limited Leonard Curtis House Elms Square Bury New Road, Whitefield, Manchester, M45 7TA, United Kingdom Property Investment Ordinary 50.00% 50.00%
Moonraker Alley Holdings Limited 18 Molasses Row, Plantation Wharf, London, SW11 3UX, United Kingdom Property Investment Ordinary 50.00% 50.00%
Moonraker Alley 1 Limited 18 Molasses Row, Plantation Wharf, London, SW11 3UX, United Kingdom Property Investment Ordinary 50.00% 50.00%
Moonraker Alley 2 Limited 18 Molasses Row, Plantation Wharf, London, SW11 3UX, United Kingdom Dormant Ordinary 50.00% 50.00%
Moonraker Alley 3 Limited 18 Molasses Row, Plantation Wharf, London, SW11 3UX, United Kingdom Dormant Ordinary 50.00% 50.00%

4. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 6,971 9,471
VAT recoverable 350 350
7,321 9,821

5. Creditors: amounts falling due within one year

2023 2022
£ £
Accruals 2,500 1,750
Other creditors 350 350
2,850 2,100

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000,000 Ordinary shares of £ 1.00 each 1,000,000 1,000,000

7. Ultimate controlling party

The company's immediate and ultimate parent undertaking is Bronze Holdings Limited ("BHL"), a company incorporated in Guernsey whose registered office address is Elm House, St Julian's Avenue, St Peter Port, GY1 1GZ.