2023-01-012023-12-312023-12-31false12829244IBANCAPITAL LTD2024-10-31iso4217:GBPxbrli:pure128292442023-01-01128292442023-12-31128292442023-01-012023-12-31128292442022-01-01128292442022-12-31128292442022-01-012022-12-3112829244bus:SmallEntities2023-01-012023-12-3112829244bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3112829244bus:FullAccounts2023-01-012023-12-3112829244bus:PrivateLimitedCompanyLtd2023-01-012023-12-3112829244core:WithinOneYear2023-12-3112829244core:AfterOneYear2023-12-3112829244core:WithinOneYear2022-12-3112829244core:AfterOneYear2022-12-3112829244core:ShareCapital2023-12-3112829244core:SharePremium2023-12-3112829244core:RevaluationReserve2023-12-3112829244core:OtherReservesSubtotal2023-12-3112829244core:RetainedEarningsAccumulatedLosses2023-12-3112829244core:ShareCapital2022-12-3112829244core:SharePremium2022-12-3112829244core:RevaluationReserve2022-12-3112829244core:OtherReservesSubtotal2022-12-3112829244core:RetainedEarningsAccumulatedLosses2022-12-3112829244core:LandBuildings2023-12-3112829244core:PlantMachinery2023-12-3112829244core:Vehicles2023-12-3112829244core:FurnitureFittings2023-12-3112829244core:OfficeEquipment2023-12-3112829244core:NetGoodwill2023-12-3112829244core:IntangibleAssetsOtherThanGoodwill2023-12-3112829244core:ListedExchangeTraded2023-12-3112829244core:UnlistedNon-exchangeTraded2023-12-3112829244core:LandBuildings2022-12-3112829244core:PlantMachinery2022-12-3112829244core:Vehicles2022-12-3112829244core:FurnitureFittings2022-12-3112829244core:OfficeEquipment2022-12-3112829244core:NetGoodwill2022-12-3112829244core:IntangibleAssetsOtherThanGoodwill2022-12-3112829244core:ListedExchangeTraded2022-12-3112829244core:UnlistedNon-exchangeTraded2022-12-3112829244core:LandBuildings2023-01-012023-12-3112829244core:PlantMachinery2023-01-012023-12-3112829244core:Vehicles2023-01-012023-12-3112829244core:FurnitureFittings2023-01-012023-12-3112829244core:OfficeEquipment2023-01-012023-12-3112829244core:NetGoodwill2023-01-012023-12-3112829244core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112829244core:ListedExchangeTraded2023-01-012023-12-3112829244core:UnlistedNon-exchangeTraded2023-01-012023-12-3112829244core:MoreThanFiveYears2023-01-012023-12-3112829244core:Non-currentFinancialInstruments2023-12-3112829244core:Non-currentFinancialInstruments2022-12-3112829244dpl:CostSales2023-01-012023-12-3112829244dpl:DistributionCosts2023-01-012023-12-3112829244core:LandBuildings2023-01-012023-12-3112829244core:PlantMachinery2023-01-012023-12-3112829244core:Vehicles2023-01-012023-12-3112829244core:FurnitureFittings2023-01-012023-12-3112829244core:OfficeEquipment2023-01-012023-12-3112829244dpl:AdministrativeExpenses2023-01-012023-12-3112829244core:NetGoodwill2023-01-012023-12-3112829244core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112829244dpl:GroupUndertakings2023-01-012023-12-3112829244dpl:ParticipatingInterests2023-01-012023-12-3112829244dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3112829244core:ListedExchangeTraded2023-01-012023-12-3112829244dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3112829244core:UnlistedNon-exchangeTraded2023-01-012023-12-3112829244dpl:CostSales2022-01-012022-12-3112829244dpl:DistributionCosts2022-01-012022-12-3112829244core:LandBuildings2022-01-012022-12-3112829244core:PlantMachinery2022-01-012022-12-3112829244core:Vehicles2022-01-012022-12-3112829244core:FurnitureFittings2022-01-012022-12-3112829244core:OfficeEquipment2022-01-012022-12-3112829244dpl:AdministrativeExpenses2022-01-012022-12-3112829244core:NetGoodwill2022-01-012022-12-3112829244core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3112829244dpl:GroupUndertakings2022-01-012022-12-3112829244dpl:ParticipatingInterests2022-01-012022-12-3112829244dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3112829244core:ListedExchangeTraded2022-01-012022-12-3112829244dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3112829244core:UnlistedNon-exchangeTraded2022-01-012022-12-3112829244core:NetGoodwill2023-12-3112829244core:IntangibleAssetsOtherThanGoodwill2023-12-3112829244core:LandBuildings2023-12-3112829244core:PlantMachinery2023-12-3112829244core:Vehicles2023-12-3112829244core:FurnitureFittings2023-12-3112829244core:OfficeEquipment2023-12-3112829244core:AfterOneYear2023-12-3112829244core:WithinOneYear2023-12-3112829244core:ListedExchangeTraded2023-12-3112829244core:UnlistedNon-exchangeTraded2023-12-3112829244core:ShareCapital2023-12-3112829244core:SharePremium2023-12-3112829244core:RevaluationReserve2023-12-3112829244core:OtherReservesSubtotal2023-12-3112829244core:RetainedEarningsAccumulatedLosses2023-12-3112829244core:NetGoodwill2022-12-3112829244core:IntangibleAssetsOtherThanGoodwill2022-12-3112829244core:LandBuildings2022-12-3112829244core:PlantMachinery2022-12-3112829244core:Vehicles2022-12-3112829244core:FurnitureFittings2022-12-3112829244core:OfficeEquipment2022-12-3112829244core:AfterOneYear2022-12-3112829244core:WithinOneYear2022-12-3112829244core:ListedExchange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IBANCAPITAL LTD

Registered Number
12829244
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

IBANCAPITAL LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Alain Dib
Johan Mikael Aake Kaempe
Alexander Hermanus Cornelis Melis
Roger Mark Welsch

Registered Address

2nd Floor 70 Conduit Street
London
W1S 2GF

Registered Number

12829244 (England and Wales)
IBANCAPITAL LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets335,855615
Investments41,777,8781,526,692
1,813,7331,527,307
Current assets
Debtors1,21844
Cash at bank and on hand37,65418,761
38,87218,805
Creditors amounts falling due within one year5(545,822)(169,347)
Net current assets (liabilities)(506,950)(150,542)
Total assets less current liabilities1,306,7831,376,765
Net assets1,306,7831,376,765
Capital and reserves
Called up share capital8,2419,817
Share premium1,379,8141,410,396
Other reserves131,493133,014
Profit and loss account(212,765)(176,462)
Shareholders' funds1,306,7831,376,765
The financial statements were approved and authorised for issue by the Board of Directors on 31 October 2024, and are signed on its behalf by:
Alexander Hermanus Cornelis Melis
Director
Registered Company No. 12829244
IBANCAPITAL LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling for submission to Companies House. The functional currency of the company and the Group is Euros.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Share-based payments
The company provides share-based payment arrangements to certain employees. Equity-settled arrangements are measured at fair value (excluding the effect of non-market based vesting conditions) at the date of the grant. The fair value is expensed on a straightline basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares or options that will vest. Where equity-settled arrangements are modified, and are of benefit to the employee, the incremental fair value is recognised over the period from the date of modification to date of vesting. Where a modification is not beneficial to the employee there is no change to the charge for share-based payment. Settlements and cancellations are treated as an acceleration of vesting and the unvested amount is recognised immediately in the income statement.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Intangible fixed assets, consisting of the development of systems and processes, are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 January 23753-753
Additions16,20722,85839,065
Revaluations(753)-(753)
At 31 December 2316,20722,85839,065
Depreciation and impairment
At 01 January 23138-138
Charge for year-3,2103,210
Other adjustments(138)-(138)
At 31 December 23-3,2103,210
Net book value
At 31 December 2316,20719,64835,855
At 31 December 22615-615
4.Fixed asset investments

Investments in groups1

Loans to groups2

Total

£££
Cost or valuation
At 01 January 23616,473910,2191,526,692
Additions-306,693306,693
Revaluations(13,278)(19,284)(32,562)
Disposals-(22,945)(22,945)
At 31 December 23603,1951,174,6831,777,878
Net book value
At 31 December 23603,1951,174,6831,777,878
At 31 December 22616,473910,2191,526,692

Notes

1Investments in group undertakings and participating interests
2Loans to group undertakings and participating interests
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables57,22133,338
Amounts owed to related parties488,601136,009
Total545,822169,347
6.Related party transactions
The company has investments in various group undertakings. The company facilitates loans and funding to and from these group undertakings. There are no defined repayment dates for these inter-group loans.
7.Description of reasons for any change in chosen formats of the financial statments
The company's functional currency is Euro. This has not changed. In the prior period, annual financial statements were provided in Euro. In this period they have been prepared with a Euro functional currency, but reported in GBP in the UK.