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REGISTERED NUMBER: 02737267 (England and Wales)















IPR INDUSTRIES LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2023






IPR INDUSTRIES LIMITED (REGISTERED NUMBER: 02737267)

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


IPR INDUSTRIES LIMITED

Company Information
for the year ended 31 December 2023







Directors: P N E Martensson
N E V Martensson





Secretary: P N E Martensson





Registered office: IPR House
37 Guildford Road
Lightwater
Surrey
GU18 5SA





Registered number: 02737267 (England and Wales)





Accountants: Cooper Parry Advisory Limited
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

IPR INDUSTRIES LIMITED (REGISTERED NUMBER: 02737267)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 4 49,334 29,754
Investments 5 1,533,204 1,533,204
1,582,538 1,562,958

Current assets
Debtors 6 573,352 587,257
Investments 7 165,481 179,224
Cash at bank 6,540 6,815
745,373 773,296
Creditors
Amounts falling due within one year 8 (103,823 ) (75,855 )
Net current assets 641,550 697,441
Total assets less current liabilities 2,224,088 2,260,399

Creditors
Amounts falling due after more than one
year

9

(8,016

)

(8,016

)
Net assets 2,216,072 2,252,383

Capital and reserves
Called up share capital 13,750 13,750
Share premium 1,856,250 1,856,250
Retained earnings 346,072 382,383
Shareholders' funds 2,216,072 2,252,383

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.

IPR INDUSTRIES LIMITED (REGISTERED NUMBER: 02737267)

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





P N E Martensson - Director


IPR INDUSTRIES LIMITED (REGISTERED NUMBER: 02737267)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

IPR Industries 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Turnover
Turnover is recognised at the fair value of the consideration received for management fees and investment income, and is shown net of VAT.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment3 years straight line
Motor vehicles20% reducing balance

Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

IPR INDUSTRIES LIMITED (REGISTERED NUMBER: 02737267)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs . Financial assets classified as receivable within one year are not amortised.

Current asset investments
Other investments are measured at cost. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

Employee benefits
The cost of any material unused holiday entitlement is recognised in the period in which the employee’s services are received.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

IPR INDUSTRIES LIMITED (REGISTERED NUMBER: 02737267)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£ £ £
Cost
At 1 January 2023 10,018 49,590 59,608
Additions 975 36,060 37,035
At 31 December 2023 10,993 85,650 96,643
Depreciation
At 1 January 2023 10,018 19,836 29,854
Charge for year 325 17,130 17,455
At 31 December 2023 10,343 36,966 47,309
Net book value
At 31 December 2023 650 48,684 49,334
At 31 December 2022 - 29,754 29,754

5. Fixed asset investments
Shares in
group Other
undertakings investments Totals
£ £ £
Cost
At 1 January 2023
and 31 December 2023 11 1,533,193 1,533,204
Net book value
At 31 December 2023 11 1,533,193 1,533,204
At 31 December 2022 11 1,533,193 1,533,204

6. Debtors: amounts falling due within one year
2023 2022
£ £
Amounts owed by group undertakings 573,063 587,101
Other debtors 289 156
573,352 587,257

IPR INDUSTRIES LIMITED (REGISTERED NUMBER: 02737267)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


7. Current asset investments

Current asset investments

2023 2022
In respect of: £    £   
Current asset investments 165,481 179,224

Listed investments included above:
Listed investments carrying amount 165,481 1179,224
Market value if different from carrying amount 1,293,054 1,083,893

The current asset investments are measured at cost. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

8. Creditors: amounts falling due within one year
2023 2022
£ £
Social security and other taxes 3,412 3,412
Directors' current accounts 87,540 60,374
Accruals and deferred income 12,871 12,069
103,823 75,855

9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other loans - 1-2 years 8,016 8,016

The aggregate amount of creditors for which security has been given amounted to £8,016 (2022 - £8,016) as detailed in a Deed of Security Assignment, dated 1 December 2010, and filed with the Registrar of Companies.

10. Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking Registered office Nature of
business
Class of
shares held
% Held
Direct
IPR Property Limited IPR House, 37 Guildford Road,
Lightwater, Surrey, GU18 5SA
Property rental Ordinary 100.00

11. Related party transactions

Included within debtors is an amount of £559,535 (2022 - £587,101), due from a group company, which may not be recoverable within twelve months.

12. Directors' transactions

Included within creditors at the year end is an amount of £87,235 (2022 - £60,069 ) owed to P N E Martensson, director.