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REGISTERED NUMBER: 04277759 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

IPERA COATINGS LIMITED

IPERA COATINGS LIMITED (REGISTERED NUMBER: 04277759)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IPERA COATINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







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 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 495,122 497,693
Investments 5 935,045 935,045
Investment property 6 566,561 566,561
1,996,728 1,999,299

CURRENT ASSETS
Debtors 7 93,600 63,600
Cash at bank 80,133 165,460
173,733 229,060
CREDITORS
Amounts falling due within one year 8 717,538 671,141
NET CURRENT LIABILITIES (543,805 ) (442,081 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,452,923

1,557,218

CREDITORS
Amounts falling due after more than one
year

9

880,219

934,353
NET ASSETS 572,704 622,865

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 571,704 621,865
SHAREHOLDERS' FUNDS 572,704 622,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 2024


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 30 July 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 2024


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 (2023 - 3 ) .

IPERA COATINGS LIMITED (REGISTERED NUMBER: 04277759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 May 2023
and 30 April 2024 528,544
DEPRECIATION
At 1 May 2023 30,851
Charge for year 2,571
At 30 April 2024 33,422
NET BOOK VALUE
At 30 April 2024 495,122
At 30 April 2023 497,693

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 925,045 10,000 935,045
NET BOOK VALUE
At 30 April 2024 925,045 10,000 935,045
At 30 April 2023 925,045 10,000 935,045

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 566,561
NET BOOK VALUE
At 30 April 2024 566,561
At 30 April 2023 566,561

IPERA COATINGS LIMITED (REGISTERED NUMBER: 04277759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 90,000 60,000
VAT 3,600 3,600
93,600 63,600

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 53,054 48,434
Amounts owed to group undertakings 639,781 599,282
Tax 7,059 4,337
Other creditors 1,500 1,500
Directors' current accounts 16,144 17,588
717,538 671,141

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1-2 years 57,518 52,963
Bank loans - 2-5 years 203,261 187,165
Bank loans more 5 yr by instal 619,440 694,225
880,219 934,353

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 619,440 694,225

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 933,273 982,786

11. RELATED PARTY DISCLOSURES

The company has received interest free loans to the following group companies at 30 April 2024:

CY Finishes Limited - £349,969 (2023: £318,373).
CY Sheet Metal Limited - £229,214 (2023: £280,909).
Radamec Control Systems Limited £75,598 (2023: £nil)

IPERA COATINGS LIMITED (REGISTERED NUMBER: 04277759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


12. ULTIMATE CONTROLLING PARTY

The controlling party is I C Passey.