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Registered number: 14121310














IVES STREET DEVELOPMENTS SEVEN LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
IVES STREET DEVELOPMENTS SEVEN LIMITED
REGISTERED NUMBER:14121310

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December
31 May
2023
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
947
1,016

Cash at bank
 5 
46,706
1,051,377

  
47,653
1,052,393

Creditors: amounts falling due within one year
 6 
(67,518)
(1,063,104)

Net current liabilities
  
 
 
(19,865)
 
 
(10,711)

Total assets less current liabilities
  
(19,865)
(10,711)

  

Net liabilities
  
(19,865)
(10,711)


Capital and reserves
  

Called up share capital 
 7 
4
4

Profit and loss account
  
(19,869)
(10,715)

  
(19,865)
(10,711)


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 period 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 3 form part of these financial statements.
Page 1

 
IVES STREET DEVELOPMENTS SEVEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Ives Street Developments Seven Limited is a private company, limited by shares, registered in England and Wales, registration number 14121310. 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

Going concern

On the basis of information and enquiries that are pertinent to the company’s circumstances and which the directors believe to be adequate, it is appropriate to continue to treat the company as a gong concern. In particular the directors believe that adequate cash resources will be available to cover the company’s requirements for working capital for at least twelve months from the date of signing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

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

 
2.4

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.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

Cash

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

 
2.7

Creditors

Short-term creditors are measured at the transaction price.
 
 
2.8

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 period was 2 (2023 - 2).

Page 2

 
IVES STREET DEVELOPMENTS SEVEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Debtors

31 December
31 May
2023
2023
£
£


Other debtors
947
4

Prepayments and accrued income
-
1,012

947
1,016



5.


Cash

31 December
31 May
2023
2023
£
£

Cash at bank
46,706
1,051,377



6.


Creditors: amounts falling due within one year

31 December
31 May
2023
2023
£
£

Other creditors
61,840
1,062,104

Accruals
5,678
1,000

67,518
1,063,104



7.


Share capital

31 December
31 May
2023
2023
£
£
Allotted, called up and fully paid



400 (2023 - 400) Ordinary shares of £0.01 each
4
4


 
Page 3