IPSWICH GROUP DEVELOPMENTS LIMITED

Company Registration Number:
13127969 (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 GROUP 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 GROUP 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

PROPERTY DEVELOPMENT



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 GROUP 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: ( 1,504 ) ( 2,091 )
Other operating income: 0 0
Operating profit(or loss): (1,504) (2,091)
Interest receivable and similar income: 6,804,530 6,700,004
Profit(or loss) before tax: 6,803,026 6,697,913
Profit(or loss) for the financial year: 6,803,026 6,697,913

IPSWICH GROUP DEVELOPMENTS LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments: 3 17,110,212 17,110,212
Total fixed assets: 17,110,212 17,110,212
Current assets
Stocks:   0 0
Debtors: 4 1,303,887 890,526
Cash at bank and in hand: 78,946 7,942
Investments:   0 0
Total current assets: 1,382,833 898,468
Creditors: amounts falling due within one year: 5 ( 752,602 ) ( 6,321,263 )
Net current assets (liabilities): 630,231 (5,422,795)
Total assets less current liabilities: 17,740,443 11,687,417
Creditors: amounts falling due after more than one year: 6 ( 750,000 )
Total net assets (liabilities): 17,740,443 10,937,417
Capital and reserves
Called up share capital: 1,100 1,100
Share premium account: 4,249,000 4,249,000
Profit and loss account: 13,490,343 6,687,317
Total Shareholders' funds: 17,740,443 10,937,417

The notes form part of these financial statements

IPSWICH GROUP 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 GROUP 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 (see note 3). 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 directors have a reasonable expectation the Company has adequate resources to continue in operational existence for foreseeable future. Therefore, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. Interest income Interest income is recognised in profit or loss using the effective interest method. 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.

IPSWICH GROUP 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 GROUP 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 GROUP DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
£ £
Other debtors 1,303,887 890,526
Total 1,303,887 890,526

IPSWICH GROUP 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
£ £
Accruals and deferred income 1,000
Other creditors 751,602 6,321,263
Total 752,602 6,321,263

IPSWICH GROUP 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

  2022
  £
Other creditors 750,000
Total   750,000