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Iwade Property Enterprises Ltd
 
 
Company Registration Number
10526287
 
 
Report of the Directors and
Unaudited Financial Statements
 
 
Period of accounts
 
Start date 01/01/2023
 
End date 31/12/2023
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 1
Iwade Property Enterprises Ltd
 
Contents of the Financial Statements
for the Period Ended 31 December 2023
 
 
Page
Company Information 3
 
Report of the Directors 4
 
Report of the Accountants 5
 
Profit and Loss Account 6
 
Balance Sheet 7 - 8
 
Notes to the Financial Statements 9 - 13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 2
Iwade Property Enterprises Ltd
 
Company Information
for the Period Ended 31 December 2023
 
Directors J Dicker
 
 
Registered office 24 Downsview
Chatham
Kent
ME5 0AP
 
Company Registration Number 10526287
 
Accountants Name B R Pusser & Co Ltd
Address 24 Downsview
Chatham
Kent
ME5 0AP
 
Bankers Name Natwest
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 3
Iwade Property Enterprises Ltd
Directors Report
for the Period Ended 31 December 2023
The directors present their report with the financial statements of the company for the
period ended 31 December 2023
Principal activities
The principal activity of the company in the period under review was
Property ownership
Directors
The director(s) shown below have held office during the whole of the period
J Dicker
Company policy on the employment of disabled persons
It is the companys policy to give employment to disabled persons wherever practicable.
Small Company Provisions
These accounts have been prepared in accordance with the provisions applicable to
companies subject to the small companies regime.
 
This report was approved by the board of directors on 2024-08-20
and signed on behalf of the board by
Name J Dicker
Status Director
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 4
Iwade Property Enterprises Ltd
 
Accountants' Report
for the Period Ended 31 December 2023
 
Independent accountants' report
 
Report to the directors on the preparation of the unaudited statutory accounts of the company for theperiod ended 31 December 2023. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of the company for the period ended 31 December 2023 as set out on pages 3 to 15 which comprise of Profit and Loss Account, the Balance Sheet and the related notes from the companys accounting records and from information and explanations you have given us. This report is made solely to the Board of Directors of the company, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the
accounts of the company and state those matters that we have agreed to state to the Board of Directors
of the company, as a body, in this report. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the company and its Board of Directors as a body for our
work or for this report.
 
It is your duty to ensure the company has kept adequate accounting records and to prepare statutory
accounts that give a true and fair view of the assets, liabilities, financial position and profit/(loss) of
the company. You consider the company is exempt from the statutory audit requirement for the
period.
We have not been instructed to carry out an audit of the financial statements. For this reason, we
have not verified the accuracy or completeness of the accounting records or information and
explanations you have given to us and we do not, therefore, express any opinion on the financial
statements.
 
 
 
 
 
 
 
B R Pusser & Co Ltd
24 Downsview
Chatham
Kent
ME5 0AP
 
Date 2024-08-20
Page 5
Iwade Property Enterprises Ltd
 
Profit and Loss Account
for the Period Ended 31 December 2023
2023 2022
Notes £ £
 
Turnover 2 69,720 43,046
Cost of sales 21,172 22,798
______ ______
Gross Profit/(Loss) 48,548 20,248
 
Administrative expenses 16,147 12,096
______ ______
Operating costs 16,147 12,096
 
______ ______
Operating Profit/(Loss) 3 32,401 8,152
______ ______
Profit/(Loss) on ordinary activities before taxation 32,401 8,152
 
Tax on profit on ordinary activities 6 6,157 1,549
_____ ____
Profit/(Loss) for the financial period after taxation 26,244 6,603
There were no recognised gains or losses other than the profit/(loss) shown attributable to the
shareholders for the period ended 31 December 2023
 
The notes form part of these financial statements
 
 
 
 
 
 
 
 
 
 
 
Page 6
Iwade Property Enterprises Ltd
Balance Sheet
for the Period Ended 31 December 2023
Company registration number 10526287
2023 2022
Notes £ £
Fixed assets
Tangible fixed assets 8 265,000 265,000
_______ _______
Total fixed assets 265,000 265,000
Current assets
Cash at bank and in hand 13,700 6,675
_______ _______
Total current assets/(liabilities) 13,700 6,675
Creditors
Creditors - amounts falling
due within one year 10 63,032 58,063
_______ _______
Net current assets (49,332) (51,388)
_______ _______
Total assets less current liabilities 215,668 213,612
_______ _______
Creditors - amounts falling
due after more than one year 11 199,610 204,298
_______ _______
Long term creditors 199,610 204,298
_____ ____
Net assets/(liabilities) 16,058 9,314
Capital and reserves
Called up share capital 13 1 1
Profit and loss account 14 16,057 9,313
_____ ____
Total shareholders funds 16,058 9,314
 
 
 
 
 
 
 
 
 
Page 7
Iwade Property Enterprises Ltd
 
Balance Sheet
for the Period Ended 31 December 2023
 
 
 
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
 
For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
 
The financial statements were approved by the Board of Directors on 2024-08-20
 
SIGNED ON BEHALF OF THE BOARD BY
 
 
 
 
 
 
 
Name J Dicker
 
The notes form part of these financial statements
Average number of employees during period 1
 
 
 
 
 
 
 
 
 
Page 8
Iwade Property Enterprises Ltd
Notes to the Financial Statements
for the Period Ended 31 December 2023
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime.
Turnover
The turnover shown in the profit and loss account represents revenue earned during the period, inclusive of VAT.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 9
Iwade Property Enterprises Ltd
Notes to the Financial Statements
for the Period Ended 31 December 2023
2. Turnover 2023 2022
£ £
United Kingdom 69,720 43,046
_____ _____
Total 69,720 43,046
3. Operating profit/(loss) 2023 2022
Profit before tax as stated after charging the following £ £
Accountants and audit fees 1,000 800
4. Directors' remuneration 2023 2022
£ £
Directors remuneration 12,000 12,000
Value of directors pension contributions
_____ _____
Total 12,000 12,000
The number of Directors accruing pension benefits was
5. Employees 2023 2022
£ £
_ _
Total staff costs
6. Taxation
The tax charge on the profit on ordinary activities 2023 2022
for the period was as follows £ £
UK Corporation Tax net of reliefs 6,157 1,549
____ ____
Tax on profit on ordinary activities 6,157 1,549
7. Dividends 2023 2022
£ £
Dividend on ordinary shares paid in period 19,500 6,000
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 10
Iwade Property Enterprises Ltd
Notes to the Financial Statements
for the Period Ended 31 December 2023
8. Tangible fixed assets
Land and Total
buildings
Cost £ £
At 1 January 2023 265,000 265,000
______ ______
At 31 December 2023 265,000 265,000
Depreciation
At 1 January 2023
At 31 December 2023
Net book value
At 31 December 2023 265,000 265,000
At 31 December 2022 265,000 265,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 11
Iwade Property Enterprises Ltd
Notes to the Financial Statements
for the Period Ended 31 December 2023
9. Debtors 2023 2022
_ _
Total
10. Creditors amounts falling due within one year 2023 2022
Trade creditors 56,875 56,514
Corporation tax 6,157 1,549
_____ _____
Total 63,032 58,063
11. Creditors amounts falling due after more than one year 2023 2022
Other creditors 199,610 204,298
______ ______
Total 199,610 204,298
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 12
Iwade Property Enterprises Ltd
Notes to the Financial Statements
for the Period Ended 31 December 2023
12. Borrowings 2023 2022
The following loans are included within creditors £ £
Over five years 204,298
_ ______
Total 0 204,298
13. Share capital 2023 2022
Authorised type Par value £ £
Ordinary 1 1 1
_ _
Total 1 1
Allotted, called up and paid £ £
Ordinary 1 1
_ _
Total 1 1
14. Reserves/Retained profit
Retained profit reconciliation £
Reserves at 1 January 2023 9,313
Profit/(Loss) for year 26,244
Dividends paid 19,500
_____
Retained Profit/(Loss) at 31 December 2023 16,057
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 13