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REGISTERED NUMBER: 02252360 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 24 JUNE 2023

FOR

IRONMERE LIMITED

IRONMERE LIMITED (REGISTERED NUMBER: 02252360)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IRONMERE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 24 JUNE 2023







DIRECTOR: D Shamash





SECRETARY: Mrs G Shamash





REGISTERED OFFICE: 16 St. Johns Park Wood
London
NW8 6QP





REGISTERED NUMBER: 02252360 (England and Wales)





ACCOUNTANTS: Orcom Civvals Limited
Accountants
50 Seymour Street
London
W1H 7JG

IRONMERE LIMITED (REGISTERED NUMBER: 02252360)

BALANCE SHEET
24 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 368,451 1,425,500
Investment property 5 1,232,480 1,214,594
1,600,931 2,640,094

CURRENT ASSETS
Debtors 6 35,750 766,925
Cash at bank 2,162,887 282,491
2,198,637 1,049,416
CREDITORS
Amounts falling due within one year 7 187,635 119,747
NET CURRENT ASSETS 2,011,002 929,669
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,611,933

3,569,763

CREDITORS
Amounts falling due after more than
one year

8

-

(730,000

)

PROVISIONS FOR LIABILITIES (13,343 ) (13,343 )
NET ASSETS 3,598,590 2,826,420

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 65,144 65,144
Retained earnings 3,533,346 2,761,176
SHAREHOLDERS' FUNDS 3,598,590 2,826,420

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 24 June 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.

IRONMERE LIMITED (REGISTERED NUMBER: 02252360)

BALANCE SHEET - continued
24 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 March 2024 and were signed by:





D Shamash - Director


IRONMERE LIMITED (REGISTERED NUMBER: 02252360)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 JUNE 2023


1. STATUTORY INFORMATION

Ironmere 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents rents receivable during the year.

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.

In accordance with the Financial Reporting Standard 102 Section 1A "Small Entities", no provision for depreciation is made in respect of freehold investment properties or leasehold properties with over 20 years to expiry since they are held for investment and revalued annually. The directors consider that this accounting policy, which is a departure from the Companies Act 2006 concerning the depreciation of fixed assets, is therefore necessary to provide true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be seperately identified or qualified.

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.

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.

IRONMERE LIMITED (REGISTERED NUMBER: 02252360)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 24 JUNE 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Loans to
other
participating
interests
£   
At 25 June 2022 1,425,500
New in year 368,451
Repayment in year (1,425,500 )
At 24 June 2023 368,451

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 25 June 2022 1,214,594
Additions 17,886
At 24 June 2023 1,232,480
NET BOOK VALUE
At 24 June 2023 1,232,480
At 24 June 2022 1,214,594

The investment property was valued on an open market basis on 24 June 2023 by the director.

If the investment property had not been revalued it would have been included at a historical cost of £1,167,336 (2022: £1,149,450).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,037 37,829
Prepayments and accrued income 713 729,096
35,750 766,925

IRONMERE LIMITED (REGISTERED NUMBER: 02252360)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 24 JUNE 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 40,000
Tax 154,444 36,013
VAT 4,350 8,480
Other creditors 691 690
Accruals and deferred income 28,150 34,564
187,635 119,747

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 330,000
Other loans - 400,000
- 730,000

9. RESERVES
Fair
value
reserve
£   
At 25 June 2022
and 24 June 2023 65,144

10. RELATED PARTY DISCLOSURES

During the year the company disposed of it's 35% interest in Darley Street Properties LLP.

11. ULTIMATE CONTROLLING PARTY

No one party is identified as controlling the company.