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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INTERMARQUE PROPERTIES LIMITED

INTERMARQUE PROPERTIES LIMITED (REGISTERED NUMBER: 03167191)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INTERMARQUE PROPERTIES LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: T D Freeman
P A Freeman
A J Freeman
N J Freeman





SECRETARY: P A Freeman





REGISTERED OFFICE: 3/11 Witney Road
Poole
Dorset
BH17 0GJ





REGISTERED NUMBER: 03167191 (England and Wales)






INTERMARQUE PROPERTIES LIMITED (REGISTERED NUMBER: 03167191)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,200,000 1,200,000

CURRENT ASSETS
Debtors 5 2,600 3,284
Cash at bank 80,666 98,300
83,266 101,584
CREDITORS
Amounts falling due within one year 6 42,946 44,898
NET CURRENT ASSETS 40,320 56,686
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,240,320

1,256,686

PROVISIONS FOR LIABILITIES 7 20,939 19,103
NET ASSETS 1,219,381 1,237,583

CAPITAL AND RESERVES
Called up share capital 8 100 100
Non-distributable revaluation reserve 394,186 394,186
Retained earnings 825,095 843,297
SHAREHOLDERS' FUNDS 1,219,381 1,237,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2024 and were signed on its behalf by:




P A Freeman - Director



A J Freeman - Director


INTERMARQUE PROPERTIES LIMITED (REGISTERED NUMBER: 03167191)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Intermarque Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents property rents receivable.

Investment property
Investment properties are revalued annually based on their fair value. Changes to fair value go through the income statement. Gains and losses are not realised and as such are not subject to current tax and are regarded as non-distributable. Depreciation is not provided.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured as amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,200,000
NET BOOK VALUE
At 31 December 2023 1,200,000
At 31 December 2022 1,200,000

INTERMARQUE PROPERTIES LIMITED (REGISTERED NUMBER: 03167191)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 1,200,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 800,000 800,000

Investment property was valued on a fair value basis on 31 December 2023 by the directors .

The valuation by the directors has been undertaken through property market research to include evidence on comparable sales and rental investment yields.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,600 3,284

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 23,757 26,610
Other creditors 19,189 18,288
42,946 44,898

7. PROVISIONS FOR LIABILITIES


The deferred tax provision is analysed as follows:

20232022

Deferred Tax b/fwd19,10313,289
Investment property revaluation-5,814
Change in rate of deferred tax1,836-
20,93919,103


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100