REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st January 2024 |
for |
INVESTMENT PROPERTY MARKETING LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st January 2024 |
for |
INVESTMENT PROPERTY MARKETING LTD |
INVESTMENT PROPERTY MARKETING LTD (REGISTERED NUMBER: 05006060) |
Contents of the Financial Statements |
for the Year Ended 31st January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
INVESTMENT PROPERTY MARKETING LTD |
Company Information |
for the Year Ended 31st January 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
41 St Thomas's Road |
Chorley |
Lancashire |
PR7 1JE |
INVESTMENT PROPERTY MARKETING LTD (REGISTERED NUMBER: 05006060) |
Balance Sheet |
31st January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
INVESTMENT PROPERTY MARKETING LTD (REGISTERED NUMBER: 05006060) |
Notes to the Financial Statements |
for the Year Ended 31st January 2024 |
1. | STATUTORY INFORMATION |
Investment Property Marketing Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Fixtures and fittings | - |
Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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. |
INVESTMENT PROPERTY MARKETING LTD (REGISTERED NUMBER: 05006060) |
Notes to the Financial Statements - continued |
for the Year Ended 31st January 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1st February 2023 |
and 31st January 2024 |
DEPRECIATION |
At 1st February 2023 |
Charge for year |
At 31st January 2024 |
NET BOOK VALUE |
At 31st January 2024 |
At 31st January 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade creditors |
Social security and other taxes |
Directors' current accounts | 124,650 | 113,894 |
Accrued expenses |
INVESTMENT PROPERTY MARKETING LTD (REGISTERED NUMBER: 05006060) |
Notes to the Financial Statements - continued |
for the Year Ended 31st January 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 31.1.24 | 31.1.23 |
value: | £ | £ |
Share capital 1 | £1 | 10 | 10 |
8. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company owed £124,650 (2023: £113,894) to its directors. The loan has been introduced to support company expenditure until further income streams are received, and on that basis the directors consider the company to be a going concern. The loan has been provided interest free. |
9. | ULTIMATE CONTROLLING PARTY |
Throughout the current year, Mr & Mrs M Hayes, both directors, have jointly controlled the company by virtue of holding 100% of the issued share capital. |