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REGISTERED NUMBER: 09918087 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INTREPID PROPERTY LIMITED

INTREPID PROPERTY LIMITED (REGISTERED NUMBER: 09918087)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

INTREPID PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs N A Boardman
J F Boardman





REGISTERED OFFICE: Southwell Cottage
51 Wivelsfield Road
Haywards Heath
West Sussex
RH16 4EN





REGISTERED NUMBER: 09918087 (England and Wales)





ACCOUNTANTS: Synergee Limited
Pluto House
6 Vale Avenue
Tunbridge Wells
Kent
TN1 1DJ

INTREPID PROPERTY LIMITED (REGISTERED NUMBER: 09918087)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 820,000 820,000
820,000 820,000

CURRENT ASSETS
Debtors 6 89,681 85,000
Cash at bank and in hand 17,677 28,173
107,358 113,173
CREDITORS
Amounts falling due within one year 7 (225,121 ) (198,676 )
NET CURRENT LIABILITIES (117,763 ) (85,503 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

702,237

734,497

CREDITORS
Amounts falling due after more than one year 8 (433,757 ) (433,757 )

PROVISIONS FOR LIABILITIES 9 - (46,257 )
NET ASSETS 268,480 254,483

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 197,202 197,202
Retained earnings 10 71,178 57,181
268,480 254,483

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.

INTREPID PROPERTY LIMITED (REGISTERED NUMBER: 09918087)

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 Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





Mrs N A Boardman - Director


INTREPID PROPERTY LIMITED (REGISTERED NUMBER: 09918087)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Intrepid Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net rental income receivable.

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 etc - 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.

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.

3. EMPLOYEES AND DIRECTORS

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

INTREPID PROPERTY LIMITED (REGISTERED NUMBER: 09918087)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 199
DEPRECIATION
At 1 January 2023
and 31 December 2023 199
NET BOOK VALUE
At 31 December 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 820,000
NET BOOK VALUE
At 31 December 2023 820,000
At 31 December 2022 820,000

Investment property is disclosed at fair value as measured by the directors.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 566,746
Valuation in 2017 14,394
Valuation in 2019 46,176
Valuation in 2020 177,684
Valuation in 2021 5,000
Valuation in 2022 10,000
820,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 85,000 85,000
Other debtors 4,681 -
89,681 85,000

INTREPID PROPERTY LIMITED (REGISTERED NUMBER: 09918087)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 49,541 13,496
Other creditors 175,580 185,180
225,121 198,676

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 433,757 433,757

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 433,757 433,757

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax - 46,257

Deferred
tax
£   
Balance at 1 January 2023 46,257
Balance at 31 December 2023 46,257

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2023 57,181 197,202 254,383
Profit for the year 13,997 13,997
At 31 December 2023 71,178 197,202 268,380

11. RELATED PARTY DISCLOSURES

At the year end the company owed £116,407 (2022: £116,407) to Intrepid Bee Limited, a company in which certain key management personnel are a director and shareholder.

At the year end the company was owed £85,000 (2022:£85,000) by Dimittere Limited, a company in which certain key management personnel are a director and shareholder.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
INTREPID PROPERTY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Intrepid Property Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Intrepid Property Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Intrepid Property Limited and state those matters that we have agreed to state to the Board of Directors of Intrepid Property Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Intrepid Property Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Intrepid Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Intrepid Property Limited. You consider that Intrepid Property Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Intrepid Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Synergee Limited
Pluto House
6 Vale Avenue
Tunbridge Wells
Kent
TN1 1DJ


13 September 2024