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REGISTERED NUMBER: 03041645 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

IPH ASSOCIATES LIMITED

IPH ASSOCIATES LIMITED (REGISTERED NUMBER: 03041645)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IPH ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr J M Leventhall
Mrs R A Leventhall





REGISTERED OFFICE: 18 Glasshouse Studios
Fryern Court Road
Fordingbridge
Hampshire
SP6 1QX





REGISTERED NUMBER: 03041645 (England and Wales)





ACCOUNTANTS: LEES
Chartered Certified Accountants
Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA

IPH ASSOCIATES LIMITED (REGISTERED NUMBER: 03041645)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,448 46,836
Investments 5 270,429 281,540
Investment property 6 425,000 425,000
727,877 753,376

CURRENT ASSETS
Debtors 7 55,385 74,394
Cash at bank and in hand 618,112 490,682
673,497 565,076
CREDITORS
Amounts falling due within one year 8 47,322 38,455
NET CURRENT ASSETS 626,175 526,621
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,354,052

1,279,997

PROVISIONS FOR LIABILITIES 32,270 35,865
NET ASSETS 1,321,782 1,244,132

CAPITAL AND RESERVES
Called up share capital 9 100 100
Non-distributable reserve 72,467 72,467
Retained earnings 1,249,215 1,171,565
SHAREHOLDERS' FUNDS 1,321,782 1,244,132

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

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

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 10 January 2024 and were signed on its behalf by:





Mr J M Leventhall - Director


IPH ASSOCIATES LIMITED (REGISTERED NUMBER: 03041645)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

IPH Associates 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 as modified by the revaluation of certain assets.

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

Rental income is recognised on a straight-line basis over the term of the relevant lease. Rental income is included in other operating income.

Government grants
Government grants are recognised when there is reasonable assurance that the grant conditions will be met and the grant will be received. These grants are recognised within other operating income on a systematic basis over the periods in which the related costs towards which they are intended to compensate are recognised as expenses.

Coronavirus Job Retention Scheme (CJRS)
Grants received in relation to the Coronavirus Job Retention Scheme are accounted for on the accruals basis once the related payroll return has been submitted.

Tangible assets
Tangible assets are recorded at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates used for this purpose are as follows:

Plant and machinery etc: straight line over 4 years and 25% on reducing balance

Investment property
Investment property is initially recorded at cost which includes purchase cost and any directly attributable expenditure.

Investment property whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Statement of Comprehensive Income in the period in which it arises.

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.

IPH ASSOCIATES LIMITED (REGISTERED NUMBER: 03041645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments are initially measured at cost. Subsequent to initial recognition, all investments are measured at fair value and the gain or loss on revaluation is recognised through profit or loss in the period in which it arises. Such gains or losses are transferred from retained earnings to a non-distributable reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 129,374
Additions 3,182
At 31 March 2023 132,556
DEPRECIATION
At 1 April 2022 82,538
Charge for year 17,570
At 31 March 2023 100,108
NET BOOK VALUE
At 31 March 2023 32,448
At 31 March 2022 46,836

5. INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2022 281,540
Revaluations (11,111 )
At 31 March 2023 270,429
NET BOOK VALUE
At 31 March 2023 270,429
At 31 March 2022 281,540

Cost or valuation at 31 March 2023 is represented by:

Other
investments
£   
Valuation in 2023 270,429

IPH ASSOCIATES LIMITED (REGISTERED NUMBER: 03041645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 425,000
NET BOOK VALUE
At 31 March 2023 425,000
At 31 March 2022 425,000

The directors value the company's investment property portfolio annually at the balance sheet date. The directors use their own knowledge and experience to assess the open market value of each property.

The historical cost of the company's investment property is £328,377 (2022 - £328,377).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 50,937 62,053
Other debtors 4,448 12,341
55,385 74,394

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,169 3,233
Taxation and social security 36,579 28,466
Other creditors 8,574 6,756
47,322 38,455

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
30 Ordinary A £1 30 50
30 Ordinary B £1 30 50
20 Ordinary C £1 20 -
20 Ordinary D £1 20 -
100 100

On 17 June 2022, the 50 Ordinary A shares and 50 Ordinary B shares, were reclassified into 30 Ordinary A, 30 Ordinary B. 20 Ordinary C, and 20 Ordinary D shares.

IPH ASSOCIATES LIMITED (REGISTERED NUMBER: 03041645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mrs R A Leventhall
Balance outstanding at start of year 9,583 -
Amounts advanced 1,836 14,762
Amounts repaid (10,334 ) (5,179 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,085 9,583

No interest (2022 - £nil) has been charged on the overdrawn loan account.