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REGISTERED NUMBER: 06240302 (England and Wales)
















Iplace Global Ltd

Unaudited Financial Statements

for the Year Ended 30th November 2023






Iplace Global Ltd (Registered number: 06240302)






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Iplace Global Ltd

Company Information
for the Year Ended 30th November 2023







Directors: Mr S J Bath
Mr R J Darvill





Registered office: 4 Old Park Lane
London
W1K 1QW





Registered number: 06240302 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

Iplace Global Ltd (Registered number: 06240302)

Statement of Financial Position
30th November 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - 37,032
Tangible assets 5 339,014 320,469
Investments 6 244,664 244,664
583,678 602,165

Current assets
Debtors 7 1,996,920 1,710,693
Cash at bank 260,170 1,302,281
2,257,090 3,012,974
Creditors
Amounts falling due within one year 8 674,769 1,281,792
Net current assets 1,582,321 1,731,182
Total assets less current liabilities 2,165,999 2,333,347

Creditors
Amounts falling due after more than one
year

9

(17,365

)

(27,442

)

Provisions for liabilities (1,338 ) (2,795 )
Net assets 2,147,296 2,303,110

Capital and reserves
Called up share capital 500 500
Retained earnings 2,146,796 2,302,610
2,147,296 2,303,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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.

Iplace Global Ltd (Registered number: 06240302)

Statement of Financial Position - continued
30th November 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 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 24th July 2024 and were signed on its behalf by:





Mr R J Darvill - Director


Iplace Global Ltd (Registered number: 06240302)

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. Statutory information

Iplace Global Ltd 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.

Preparation of consolidated financial statements
The financial statements contain information about Iplace Global Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Changes in accounting policies
For the period ended 30th November 2023, the entity retrospectively adopted a voluntary change in accounting policy in accordance with FRS 102 Section 10 Accounting Policies, Estimates and Errors with respect to the recognition of its turnover.

In previous years, business to business conveyancing referrals were recognised at the point of referral, however, given that the length of time to successfully convert the referrals can stretch over a number of years, it did not provide a reliable and accurate representation of the turnover.

Business to business conveyancing referrals will now be recognised at point of completion when the fees are paid which gives a true and fair representation of turnover.

Due to the volume and complexity of the transactions that would be affected by this change in policy, it was deemed impracticable to determine the individual period effects on comparative periods of each financial statement line affected. The accounting policy has been applied to the carrying amounts of the assets at the beginning of this period.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 33% straight line
Website development - 15% on reducing balance


Iplace Global Ltd (Registered number: 06240302)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

2. Accounting policies - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3. Employees and directors

The average number of employees during the year was 25 (2022 - 27 ) .

4. Intangible fixed assets
Other
intangible
Goodwill assets Totals
£    £    £   
Cost
At 1st December 2022
and 30th November 2023 86,000 85,296 171,296
Amortisation
At 1st December 2022 77,400 56,864 134,264
Charge for year 8,600 28,432 37,032
At 30th November 2023 86,000 85,296 171,296
Net book value
At 30th November 2023 - - -
At 30th November 2022 8,600 28,432 37,032

Iplace Global Ltd (Registered number: 06240302)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

5. Tangible fixed assets
Fixtures
and Website
fittings development Totals
£    £    £   
Cost
At 1st December 2022 36,759 450,867 487,626
Additions 1,608 83,270 84,878
At 30th November 2023 38,367 534,137 572,504
Depreciation
At 1st December 2022 25,578 141,579 167,157
Charge for year 7,444 58,889 66,333
At 30th November 2023 33,022 200,468 233,490
Net book value
At 30th November 2023 5,345 333,669 339,014
At 30th November 2022 11,181 309,288 320,469

6. Fixed asset investments
Other
investments
£   
Cost
At 1st December 2022
and 30th November 2023 244,664
Net book value
At 30th November 2023 244,664
At 30th November 2022 244,664

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 352,996 950,317
Amounts owed by group undertakings 1,589,802 746,115
Other debtors 54,122 14,261
1,996,920 1,710,693

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,077 9,829
Trade creditors 304,079 34,166
Amounts owed to group undertakings 47,902 50,000
Taxation and social security 137,420 484,363
Other creditors 175,291 703,434
674,769 1,281,792

Iplace Global Ltd (Registered number: 06240302)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 17,365 27,442

10. Ultimate controlling party

The company's ultimate holding company is Home Mover Holdings Limited, a company registered in England and Wales.