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REGISTERED NUMBER: 02375796 (England and Wales)















Unaudited Financial Statements

For The Year Ended 24 March 2024

for

IVERNA COURT FREEHOLD LIMITED

IVERNA COURT FREEHOLD LIMITED (REGISTERED NUMBER: 02375796)






Contents of the Financial Statements
For The Year Ended 24 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IVERNA COURT FREEHOLD LIMITED

Company Information
For The Year Ended 24 March 2024







DIRECTORS: J Di Prospero
M Fragoso
A Myron
D G Bradshaw





REGISTERED OFFICE: Fourth Floor
20 Red Lion Street
London
WC1R 4PS





REGISTERED NUMBER: 02375796 (England and Wales)





ACCOUNTANTS: LBCo Ltd
T/A Lees-Buckley & Co
16 Northfields Prospect
Putney Bridge Road
London
SW18 1PE

IVERNA COURT FREEHOLD LIMITED (REGISTERED NUMBER: 02375796)

Balance Sheet
24 March 2024

24.3.24 24.3.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 250,000 250,000

CURRENT ASSETS
Debtors 5 123 113
Cash in hand 19,114 21,217
19,237 21,330
CREDITORS
Amounts falling due within one year 6 817 2,910
NET CURRENT ASSETS 18,420 18,420
TOTAL ASSETS LESS CURRENT
LIABILITIES

268,420

268,420

CREDITORS
Amounts falling due after more than one
year

7

(29,232

)

(29,232

)

PROVISIONS FOR LIABILITIES 8 (25,632 ) (25,632 )
NET ASSETS 213,556 213,556

CAPITAL AND RESERVES
Called up share capital 9 30 30
Share premium 29,000 29,000
Non distributable reserves 10 184,526 184,526
SHAREHOLDERS' FUNDS 213,556 213,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 24 March 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.

IVERNA COURT FREEHOLD LIMITED (REGISTERED NUMBER: 02375796)

Balance Sheet - continued
24 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





A Myron - Director


IVERNA COURT FREEHOLD LIMITED (REGISTERED NUMBER: 02375796)

Notes to the Financial Statements
For The Year Ended 24 March 2024

1. STATUTORY INFORMATION

Iverna Court Freehold 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.

Property valuation
The freehold investment property was valued on 22nd February 2008 by the directors and the revaluation surplus of £210,158 net of the deferred tax provision of £25,632 credited to non distributable reserves.

Service charge balances
The service charge assets and liabilities of 1-27 Iverna Court, London W8, of which the company is a trustee, have in previous years been included as equal and opposite entries in the company's balance sheet and notes. These have now been excluded in both the current year and comparative figures in accordance with ICAEW Technical Release 3/11.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 25 March 2023
and 24 March 2024 250,000
NET BOOK VALUE
At 24 March 2024 250,000
At 24 March 2023 250,000

The company owns the freehold reversionary interest in 1-27 Iverna Court, London W8, subject to long leases granted to the members of the company, which is stated at valuation.

In the opinion of the directors there was no material difference between the book and fair value of the property at 24th March 2024.

Fair value at 24 March 2024 is represented by:
£   
Valuation in 2008 210,158
Cost 39,842
250,000

IVERNA COURT FREEHOLD LIMITED (REGISTERED NUMBER: 02375796)

Notes to the Financial Statements - continued
For The Year Ended 24 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
24.3.24 24.3.23
as restated
£    £   
Prepayments 123 113

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
24.3.24 24.3.23
as restated
£    £   
Accrued expenses 817 2,910

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
24.3.24 24.3.23
as restated
£    £   
Shareholders' interest free
loans 29,232 29,232
29,232 29,232

8. PROVISIONS FOR LIABILITIES
24.3.24 24.3.23
as restated
£    £   
Deferred tax 25,632 25,632

Deferred
tax
£   
Balance at 25 March 2023 25,632
Balance at 24 March 2024 25,632

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 24.3.24 24.3.23
value: as restated
£    £   
30 Ordinary £1 30 30

10. RESERVES
Non
distributable
reserves
£   
At 25 March 2023
and 24 March 2024 184,526