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INTELLIGENT PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JANUARY 2024






INTELLIGENT PROPERTY LIMITED (REGISTERED NUMBER: 11798809)






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

Accountants' Report 7

INTELLIGENT PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTOR: A Hill





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN





REGISTERED NUMBER: 11798809 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

INTELLIGENT PROPERTY LIMITED (REGISTERED NUMBER: 11798809)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 170,294 147,875

CURRENT ASSETS
Debtors 5 567 1,712
Cash at bank 20,341 43,102
20,908 44,814
CREDITORS
Amounts falling due within one year 6 99,974 99,954
NET CURRENT LIABILITIES (79,066 ) (55,140 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

91,228

92,735

CREDITORS
Amounts falling due after more than one year 7 (101,417 ) (101,344 )

PROVISIONS FOR LIABILITIES (6,333 ) (6,333 )
NET LIABILITIES (16,522 ) (14,942 )

CAPITAL AND RESERVES
Called up share capital 10 99 99
Other reserves 18,010 18,010
Retained earnings (34,631 ) (33,051 )
SHAREHOLDERS' FUNDS (16,522 ) (14,942 )

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 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.

INTELLIGENT PROPERTY LIMITED (REGISTERED NUMBER: 11798809)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 15th October 2024 and were signed by:





A Hill - Director


INTELLIGENT PROPERTY LIMITED (REGISTERED NUMBER: 11798809)

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

1. STATUTORY INFORMATION

Intelligent 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.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. No formal valuation was performed on the investment property at 31 January 2024. The director has considered the value using an appropriate valuation model.

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 1 (2023 - 1 ) .

INTELLIGENT PROPERTY LIMITED (REGISTERED NUMBER: 11798809)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st February 2023 147,875
Additions 22,419
At 31st January 2024 170,294
NET BOOK VALUE
At 31st January 2024 170,294
At 31st January 2023 147,875

Fair value at 31st January 2024 is represented by:
£   
Valuation in 2022 28,032
Cost 142,262
170,294

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax - 1,161
Prepayments and accrued income 567 551
567 1,712

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 4,279 4,355
Directors' current accounts 94,657 94,657
Accruals and deferred income 1,038 942
99,974 99,954

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 101,417 101,344

INTELLIGENT PROPERTY LIMITED (REGISTERED NUMBER: 11798809)

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

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 4,279 4,355

Amounts falling due between two and five years:
Bank loans - 2-5 years 101,417 101,344

The two loans have a 25 year term. One loan started April 2022 and accrues interest at 3.45% and the other loan starts February 2023 and accrues interest at 4.99%.

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 105,696 -

The debts are secured over the investment properties held in the financial statements.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
99 Ordinary £1 99 99

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
INTELLIGENT PROPERTY LIMITED

The following reproduces the text of the report prepared for the director 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Director 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 Intelligent Property Limited for the year ended 31st January 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 director of Intelligent Property Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Intelligent Property Limited and state those matters that we have agreed to state to the director of Intelligent Property Limited 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 Intelligent Property Limited and its director for our work or for this report.

It is your duty to ensure that Intelligent 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 loss of Intelligent Property Limited. You consider that Intelligent 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 Intelligent 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.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


15th October 2024