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REGISTERED NUMBER: 04277759 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

IPERA COATINGS LIMITED

IPERA COATINGS LIMITED (REGISTERED NUMBER: 04277759)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IPERA COATINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: I C Passey
Mrs G Passey
M R Passey





SECRETARY: Mrs G Passey





REGISTERED OFFICE: 25 St Thomas Street
Winchester
Hampshire
SO23 9HJ





REGISTERED NUMBER: 04277759 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

IPERA COATINGS LIMITED (REGISTERED NUMBER: 04277759)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 497,693 500,264
Investments 5 935,045 935,045
Investment property 6 566,561 250,750
1,999,299 1,686,059

CURRENT ASSETS
Debtors 7 63,600 41,910
Cash at bank 165,460 274,629
229,060 316,539
CREDITORS
Amounts falling due within one year 8 671,141 636,250
NET CURRENT LIABILITIES (442,081 ) (319,711 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,557,218

1,366,348

CREDITORS
Amounts falling due after more than one
year

9

934,353

748,999
NET ASSETS 622,865 617,349

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 621,865 616,349
SHAREHOLDERS' FUNDS 622,865 617,349

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

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

IPERA COATINGS LIMITED (REGISTERED NUMBER: 04277759)

BALANCE SHEET - continued
30 APRIL 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2024 and were signed on its behalf by:





I C Passey - Director


IPERA COATINGS LIMITED (REGISTERED NUMBER: 04277759)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Ipera Coatings 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.
Freehold property - 2% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 3 (2022 - 3 ) .

IPERA COATINGS LIMITED (REGISTERED NUMBER: 04277759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 May 2022
and 30 April 2023 528,544
DEPRECIATION
At 1 May 2022 28,280
Charge for year 2,571
At 30 April 2023 30,851
NET BOOK VALUE
At 30 April 2023 497,693
At 30 April 2022 500,264

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 925,045 10,000 935,045
NET BOOK VALUE
At 30 April 2023 925,045 10,000 935,045
At 30 April 2022 925,045 10,000 935,045

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 250,750
Additions 315,811
At 30 April 2023 566,561
NET BOOK VALUE
At 30 April 2023 566,561
At 30 April 2022 250,750

IPERA COATINGS LIMITED (REGISTERED NUMBER: 04277759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Other debtors 60,000 38,310
VAT 3,600 3,600
63,600 41,910

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 48,434 46,624
Amounts owed to group undertakings 599,282 558,897
Tax 4,337 10,204
Other creditors 1,500 1,500
Directors' current accounts 17,588 19,025
671,141 636,250

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans - 1-2 years 52,963 48,312
Bank loans - 2-5 years 187,165 155,680
Bank loans more 5 yr by instal 694,225 545,007
934,353 748,999

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 694,225 545,007

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank loans 982,786 795,623

11. RELATED PARTY DISCLOSURES

The company has received interest free loans to the following group companies at 30 April 2022:

CY Finishes Limited - £318,373 (2022: £287,548).
CY Sheet Metal Limited - £280,909 (2022: £271,349).

IPERA COATINGS LIMITED (REGISTERED NUMBER: 04277759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


12. ULTIMATE CONTROLLING PARTY

The controlling party is I C Passey.