IRIS Accounts Production v24.2.0.383 11126665 director 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111266652022-12-31111266652023-12-31111266652023-01-012023-12-31111266652021-12-31111266652022-01-012022-12-31111266652022-12-3111126665ns15:EnglandWales2023-01-012023-12-3111126665ns14:PoundSterling2023-01-012023-12-3111126665ns10:Director12023-01-012023-12-3111126665ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111126665ns10:SmallEntities2023-01-012023-12-3111126665ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3111126665ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111126665ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111126665ns10:FullAccounts2023-01-012023-12-3111126665ns10:OrdinaryShareClass12023-01-012023-12-3111126665ns5:CurrentFinancialInstruments2023-12-3111126665ns5:CurrentFinancialInstruments2022-12-3111126665ns5:ShareCapital2023-12-3111126665ns5:ShareCapital2022-12-3111126665ns5:RevaluationReserve2023-12-3111126665ns5:RevaluationReserve2022-12-3111126665ns5:RetainedEarningsAccumulatedLosses2023-12-3111126665ns5:RetainedEarningsAccumulatedLosses2022-12-3111126665ns10:RegisteredOffice2023-01-012023-12-3111126665ns5:PlantMachinery2023-01-012023-12-3111126665ns5:ComputerEquipment2023-01-012023-12-3111126665ns5:PlantMachinery2022-12-3111126665ns5:ComputerEquipment2022-12-3111126665ns5:PlantMachinery2023-12-3111126665ns5:ComputerEquipment2023-12-3111126665ns5:PlantMachinery2022-12-3111126665ns5:ComputerEquipment2022-12-3111126665ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3111126665ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3111126665ns5:Secured12023-12-3111126665ns5:Secured12022-12-3111126665ns10:OrdinaryShareClass12023-12-3111126665ns5:RevaluationReserve2022-12-31
REGISTERED NUMBER: 11126665 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2023

for

IMS Euro Properties Limited

IMS Euro Properties Limited (Registered number: 11126665)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


IMS Euro Properties Limited (Registered number: 11126665)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 164,127 159,591
Investment property 6 6,744,734 5,336,003
6,908,861 5,495,594

CURRENT ASSETS
Stocks 818 168
Debtors 7 175,350 89,277
Cash at bank and in hand 107,100 83,586
283,268 173,031
CREDITORS
Amounts falling due within one year 8 (2,841,174 ) (2,009,370 )
NET CURRENT LIABILITIES (2,557,906 ) (1,836,339 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,350,955 3,659,255

PROVISIONS FOR LIABILITIES (989,046 ) (821,898 )
NET ASSETS 3,361,909 2,837,357

CAPITAL AND RESERVES
Called up share capital 10 1 1
Fair value reserve 11 2,844,687 2,346,690
Retained earnings 517,221 490,666
SHAREHOLDERS' FUNDS 3,361,909 2,837,357

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 director acknowledges his 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.

IMS Euro Properties Limited (Registered number: 11126665)

Balance Sheet - continued
31 December 2023


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 director and authorised for issue on 1 August 2024 and were signed by:





Mr D W Shamot - Director


IMS Euro Properties Limited (Registered number: 11126665)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

IMS Euro Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11126665

Registered office: Europa Business Park
Bird Hall Lane
Cheadle Heath
Stockport
Cheshire
SK3 0XA

Going Concern
After making enquiries, the director has reasonable expectation that the company has adequate resources through the parent company to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

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 is recognised in the month for which rent is due in line with agreed Licence to Occupy agreements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


IMS Euro Properties Limited (Registered number: 11126665)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

4. AUDITORS' REMUNERATION
31.12.23 31.12.22
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

172

5,550

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2023 169,657 - 169,657
Additions 23,956 595 24,551
At 31 December 2023 193,613 595 194,208
DEPRECIATION
At 1 January 2023 10,066 - 10,066
Charge for year 19,883 132 20,015
At 31 December 2023 29,949 132 30,081
NET BOOK VALUE
At 31 December 2023 163,664 463 164,127
At 31 December 2022 159,591 - 159,591

IMS Euro Properties Limited (Registered number: 11126665)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 5,336,003
Additions 744,734
Revaluations 663,997
At 31 December 2023 6,744,734
NET BOOK VALUE
At 31 December 2023 6,744,734
At 31 December 2022 5,336,003

A year end revaluation was conducted by Behr & Co, chartered building surveyors, for £6,000,000 based on property net initial yield.The valuation did not include the cost of the new build to date as detailed below.

There is a new building under construction of which the costs amount to £744,734 by the year end. These have been included in investment property additions. It is expected that completion will be sometime towards the end of 2024. No depreciation has been charged on these costs.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 18,128 6,145
Amounts owed by group undertakings 74,279 -
Other debtors 82,943 83,132
175,350 89,277

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 42,854 5,713
Amounts owed to group undertakings 2,715,349 1,685,294
Taxation and social security 8,424 2,710
Other creditors 74,547 315,653
2,841,174 2,009,370

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
HSBC mortgage loan - 200,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

IMS Euro Properties Limited (Registered number: 11126665)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023 2,346,690
Transfer 497,997

At 31 December 2023 2,844,687

The fair value reserve consists of investment property revaluation of £3,792,616 and a deferred tax liability adjustment of £948,229.

12. RELATED PARTY DISCLOSURES

During the period the Company received rental income of £218,592 from IMS Euro Limited, a company under common control. There was an outstanding balance of £2,962.48 payable to IMS Euro Properties Limited at the year end (2022: £277).

At the period end the Company had a payable balance of £2,715,349 (2022: £1,680,349) owing to the parent company, IMS Euro Holdings Limited.

13. ULTIMATE HOLDING COMPANY

IMS Euro Properties Limited is a wholly owned subsidiary of the parent company IMS Euro Holdings Limited, which in turn is a wholly owned subsidiary of IMS Euro Group Ltd, both registered in UK.

Resultantly, IMS Euro Group Holdings Ltd is the ultimate controlling company of IMS Euro Properties Limited.