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REGISTERED NUMBER: 13068866 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ILM CASTLE PROPERTY LIMITED

ILM CASTLE PROPERTY LIMITED (REGISTERED NUMBER: 13068866)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ILM CASTLE PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: K P Foster





REGISTERED OFFICE: 12 Victoria Road
Barnsley
United Kingdom
S70 2BB





REGISTERED NUMBER: 13068866 (England and Wales)





ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

ILM CASTLE PROPERTY LIMITED (REGISTERED NUMBER: 13068866)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 189,625 189,625

CURRENT ASSETS
Debtors 5 418 395
Cash at bank 8,737 13,470
9,155 13,865
CREDITORS
Amounts falling due within one year 6 64,569 74,885
NET CURRENT LIABILITIES (55,414 ) (61,020 )
TOTAL ASSETS LESS CURRENT LIABILITIES 134,211 128,605

CREDITORS
Amounts falling due after more than
one year

7

132,375

129,371
NET ASSETS/(LIABILITIES) 1,836 (766 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,736 (866 )
SHAREHOLDERS' FUNDS 1,836 (766 )

ILM CASTLE PROPERTY LIMITED (REGISTERED NUMBER: 13068866)

BALANCE SHEET - continued
31 DECEMBER 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 January 2024 and were signed by:





K P Foster - Director


ILM CASTLE PROPERTY LIMITED (REGISTERED NUMBER: 13068866)

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

1. STATUTORY INFORMATION

Ilm Castle Property 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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

The director considers that the carrying value of investment properties in the financial statements is a reasonable representation of their fair value. No independent valuation has been obtained at the year end.

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

When the outcome of a transaction can be estimated reliably, turnover from property rental income is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to rental period.

Investment property
Investment property is initially recognised in the financial statements at cost, and at the end of each reporting period at its 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 Income Statement, 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.


ILM CASTLE PROPERTY LIMITED (REGISTERED NUMBER: 13068866)

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

2. ACCOUNTING POLICIES - continued
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 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 189,625
NET BOOK VALUE
At 31 December 2023 189,625
At 31 December 2022 189,625

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Prepayments and accrued income 418 395

ILM CASTLE PROPERTY LIMITED (REGISTERED NUMBER: 13068866)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Corporation tax 610 57
Directors' current accounts 63,154 74,048
Accruals and deferred income 805 780
64,569 74,885

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.2331.12.22
££
Bank loans more than 5 yrs132,375129,371

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 132,375 129,371

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100