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REGISTERED NUMBER: 12413845 (England and Wales)















INDIES PROPERTY COMPANY LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024






INDIES PROPERTY COMPANY LTD (REGISTERED NUMBER: 12413845)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INDIES PROPERTY COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: L Toney
Z A Toney





REGISTERED OFFICE: Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU





REGISTERED NUMBER: 12413845 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

INDIES PROPERTY COMPANY LTD (REGISTERED NUMBER: 12413845)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 162,256
Investment property 5 128,772 -
128,772 162,256

CURRENT ASSETS
Debtors 6 4,979 -
Cash at bank 489 5,030
5,468 5,030
CREDITORS
Amounts falling due within one year 7 140,111 150,535
NET CURRENT LIABILITIES (134,643 ) (145,505 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,871

)

16,751

CREDITORS
Amounts falling due after more than one
year

8

37,028

41,285
NET LIABILITIES (42,899 ) (24,534 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (42,900 ) (24,535 )
SHAREHOLDERS' FUNDS (42,899 ) (24,534 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 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.

INDIES PROPERTY COMPANY LTD (REGISTERED NUMBER: 12413845)

BALANCE SHEET - continued
31ST JANUARY 2024


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 has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd September 2024 and were signed on its behalf by:





L Toney - Director


INDIES PROPERTY COMPANY LTD (REGISTERED NUMBER: 12413845)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

1. STATUTORY INFORMATION

Indies Property Company Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Not provided
Plant and machinery - 25% on reducing balance

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 Profit and Loss, 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 (2023 - NIL).

INDIES PROPERTY COMPANY LTD (REGISTERED NUMBER: 12413845)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1st February 2023 157,856 7,299 165,155
Disposals - (7,299 ) (7,299 )
Reclassification/transfer (157,856 ) - (157,856 )
At 31st January 2024 - - -
DEPRECIATION
At 1st February 2023 - 2,899 2,899
Charge for year - 642 642
Eliminated on disposal - (3,541 ) (3,541 )
At 31st January 2024 - - -
NET BOOK VALUE
At 31st January 2024 - - -
At 31st January 2023 157,856 4,400 162,256

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 137,895
Disposals (166,979 )
Reclassification/transfer 157,856
At 31st January 2024 128,772
NET BOOK VALUE
At 31st January 2024 128,772

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 4,600 -
Other debtors 379 -
4,979 -

INDIES PROPERTY COMPANY LTD (REGISTERED NUMBER: 12413845)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 126,995 25,000
Directors' current accounts 11,384 124,815
Accruals and deferred income 1,732 720
140,111 150,535

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 37,028 41,285

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

10. RELATED PARTY DISCLOSURES

The company had an outstanding directors loan account at the year end due to Mr L Toney of £11,384 (2023 - £124,815).