IPSWICH DEVELOPMENTS LIMITED

Company Registration Number:
09742726 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

IPSWICH DEVELOPMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

IPSWICH DEVELOPMENTS LIMITED

Directors' report 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 of the company

Intermediate holding company of a property development group.



Directors

The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023

S T COCK


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
5 September 2024

And signed on behalf of the board by:
Name: S T COCK
Status: Director

IPSWICH DEVELOPMENTS LIMITED

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 0 0
Cost of sales: 0 0
Gross profit(or loss): 0 0
Distribution costs: 0 0
Administrative expenses: 2,516 ( 19,431 )
Operating profit(or loss): 2,516 (19,431)
Interest receivable and similar income: 6,775,000 6,770,000
Profit(or loss) before tax: 6,777,516 6,750,569
Profit(or loss) for the financial year: 6,777,516 6,750,569

IPSWICH DEVELOPMENTS LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Investments: 3 4,375,290 4,375,290
Total fixed assets: 4,375,290 4,375,290
Current assets
Debtors: 4 4,564,553 4,547,541
Cash at bank and in hand: 5,398 508,880
Total current assets: 4,569,951 5,056,421
Creditors: amounts falling due within one year: 5 ( 411,019 ) ( 900,005 )
Net current assets (liabilities): 4,158,932 4,156,416
Total assets less current liabilities: 8,534,222 8,531,706
Creditors: amounts falling due after more than one year: 6 ( 1,264,273 ) ( 1,264,273 )
Total net assets (liabilities): 7,269,949 7,267,433
Capital and reserves
Called up share capital: 200,000 200,000
Profit and loss account: 7,069,949 7,067,433
Total Shareholders' funds: 7,269,949 7,267,433

The notes form part of these financial statements

IPSWICH DEVELOPMENTS LIMITED

Balance sheet statements

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.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 5 September 2024
and signed on behalf of the board by:

Name: S T COCK
Status: Director

The notes form part of these financial statements

IPSWICH DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Other accounting policies

    The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied: Exemption from preparing consolidated financial statements The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts. Going concern At the time of approving the financial statements the director has a reasonable expectation the Company has adequate resources to continue in operational existence for foreseeable future. Therefore, the director continues to adopt the going concern basis of accounting in preparing the financial statements Debtors Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Dividends Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Judgments in applying accounting policies and key sources of estimation uncertainty In the application of the Company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not radily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differe from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods

IPSWICH DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

IPSWICH DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Fixed assets investments note

Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

IPSWICH DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
£ £
Other debtors 4,564,553 4,547,541
Total 4,564,553 4,547,541

IPSWICH DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 4,679
Accruals and deferred income 1,000 4,900
Other creditors 410,019 890,426
Total 411,019 900,005

IPSWICH DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Other creditors 1,264,273 1,264,273
Total 1,264,273 1,264,273