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Registered Number: 10909557
England and Wales

 

 

 

INDIGO PROPERTY PARTNERS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Accountants report
You consider that the company is exempt from an audit for the year ended 31 August 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Income statement, statement of financial position, notes to the financial statements and detailed income statement from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Palmers Business Support Ltd
31 August 2024



....................................................

Palmers Business Support Ltd

Palmers Barn
Station Road, Long Marston
TRING
HP23 4QS
20 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 390,000    253,161 
390,000    253,161 
Current assets      
Cash at bank and in hand 13,797    14,392 
Creditors: amount falling due within one year (191,025)   (210,312)
Net current assets (177,228)   (195,920)
 
Total assets less current liabilities 212,772    57,241 
Creditors: amount falling due after more than one year   (1,871)
Provisions for liabilities (34,210)  
Net assets 178,562    55,370 
 

Capital and reserves
     
Called up share capital 4 1    1 
Profit and loss account 178,561    55,369 
Shareholders' funds 178,562    55,370 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 20 November 2024 and were signed by:


-------------------------------
Mrs S Beitler
Director
2
General Information
Indigo Property Partners Ltd is a private company, limited by shares, registered in England and Wales, registration number 10909557, registration address 34 Edgwarebury Lane,, Edgware,, ENGLAND, HA8 8LW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixed asset investments
The fixed asset investments represent the Companys interest in freehold properties acquired in the period as follows:
Investment Properties : Freehold Properties
Particulars 2024
£
 2023
£
Freehold Property - Cost b/fwd253,161 253,161 
Freehold Property - Revaluations136,839 
Total Property Investments390,000 253,161 
Sale of Property Investment
Net Book Value390,000 253,161 


Note :- Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to revaluation reserve.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 September 2023 253,161    253,161 
Additions  
Disposals  
Revaluations 136,839    136,839 
At 31 August 2024 390,000    390,000 
Depreciation
At 01 September 2023  
Charge for year  
On disposals  
At 31 August 2024  
Net book values
Closing balance as at 31 August 2024 390,000    390,000 
Opening balance as at 01 September 2023 253,161    253,161 


4.

Share Capital

Authorised
100 Ordinary Share shares of £0.01 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary Share shares of £0.01 each  
 

3