Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue2023-01-0122false 07662551 2023-01-01 2023-12-31 07662551 2022-01-01 2022-12-31 07662551 2023-12-31 07662551 2022-12-31 07662551 c:Director1 2023-01-01 2023-12-31 07662551 d:FreeholdInvestmentProperty 2023-12-31 07662551 d:FreeholdInvestmentProperty 2022-12-31 07662551 d:CurrentFinancialInstruments 2023-12-31 07662551 d:CurrentFinancialInstruments 2022-12-31 07662551 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07662551 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07662551 d:ShareCapital 2023-12-31 07662551 d:ShareCapital 2022-12-31 07662551 d:RetainedEarningsAccumulatedLosses 2023-12-31 07662551 d:RetainedEarningsAccumulatedLosses 2022-12-31 07662551 c:OrdinaryShareClass1 2023-01-01 2023-12-31 07662551 c:OrdinaryShareClass1 2023-12-31 07662551 c:OrdinaryShareClass1 2022-12-31 07662551 c:FRS102 2023-01-01 2023-12-31 07662551 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07662551 c:FullAccounts 2023-01-01 2023-12-31 07662551 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07662551 2 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07662551














IVES STREET DEVELOPMENTS THREE LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
IVES STREET DEVELOPMENTS THREE LIMITED
REGISTERED NUMBER:07662551

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,497,255
2,497,255

  
2,497,255
2,497,255

Current assets
  

Debtors: amounts falling due within one year
 5 
1,271
4

Cash at bank
 6 
359,140
238,619

  
360,411
238,623

Creditors: amounts falling due within one year
 7 
(2,698,040)
(2,596,978)

Net current liabilities
  
 
 
(2,337,629)
 
 
(2,358,355)

Total assets less current liabilities
  
159,626
138,900

  

Net assets
  
159,626
138,900


Capital and reserves
  

Called up share capital 
 8 
4
4

Profit and loss account
  
159,622
138,896

  
159,626
138,900


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N J Price
Director

Date: 9 September 2024

The notes on pages 2 to 4 form part of these financial statements.
Page 1

 
IVES STREET DEVELOPMENTS THREE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Ives Street Developments Three Limited is a private company, limited by shares, registered in England and Wales, registration number 07662551. The registered office address is 25 Ives Street, London, SW3 2ND.

The company is a property investment and development company. Properties are purchased with the intention that they will be held for their investment potential.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover represents rental income from the investment properties and originates wholly from the
United Kingdom.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Investment property

Investment property is carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 2

 
IVES STREET DEVELOPMENTS THREE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Cash

Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
 
 
2.11

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets liabilities such as other debtors, trade and other creditors, and loans with related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Investment property

£



Valuation


At 1 January 2023
2,497,255



At 31 December 2023
2,497,255

The 2023 valuations were made by directors, on an open market value for existing use basis.





Page 3

 
IVES STREET DEVELOPMENTS THREE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
304
4

Prepayments
967
-

1,271
4



6.


Cash

2023
2022
£
£

Cash at bank
359,139
238,619



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
1,260
-

Amounts owed to connected companies
-
2,553,785

Corporation tax
6,011
1,714

Other taxation
6,840
5,800

Other creditors
2,647,751
-

Accruals and deferred income
36,178
35,679

2,698,040
2,596,978

 
HSBC Private Bank (UK) Limited holds a charge over the assets of the company in respect of all the amounts due from the company.

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



400 (2022 - 400) Ordinary shares of £0.01 each
4
4


 
Page 4