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REGISTERED NUMBER: 09670439 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

I P HOUSE LIMITED

I P HOUSE LIMITED (REGISTERED NUMBER: 09670439)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


I P HOUSE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: M L Kanbi





SECRETARY:





REGISTERED OFFICE: 114 - 116 Goodmayes Road
Ilford
Essex
IG3 9UZ





REGISTERED NUMBER: 09670439 (England and Wales)





ACCOUNTANTS: Ashfords Partnership LLP
114 - 116 Goodmayes Road
Ilford
Essex
IG3 9UZ

I P HOUSE LIMITED (REGISTERED NUMBER: 09670439)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 724,351 965,802

CURRENT ASSETS
Debtors 5 848,153 118,158
Cash at bank and in hand 15,827 224,819
863,980 342,977
CREDITORS
Amounts falling due within one year 6 646,530 663,619
NET CURRENT ASSETS/(LIABILITIES) 217,450 (320,642 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

941,801

645,160

CREDITORS
Amounts falling due after more than
one year

7

3,060,371

3,081,651
NET LIABILITIES (2,118,570 ) (2,436,491 )

I P HOUSE LIMITED (REGISTERED NUMBER: 09670439)

BALANCE SHEET - continued
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,118,670 ) (2,436,591 )
SHAREHOLDERS' FUNDS (2,118,570 ) (2,436,491 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 director and authorised for issue on 20 November 2024 and were signed by:




M L Kanbi - Director


I P HOUSE LIMITED (REGISTERED NUMBER: 09670439)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

I P House 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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.


I P HOUSE LIMITED (REGISTERED NUMBER: 09670439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The accounts have been prepared on going concern basis which assumes that the company will continue to receive adequate financial assistance from Directors, Bankers and other creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

I P HOUSE LIMITED (REGISTERED NUMBER: 09670439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 2,423,522
DEPRECIATION
At 1 March 2023 1,457,720
Charge for year 241,451
At 29 February 2024 1,699,171
NET BOOK VALUE
At 29 February 2024 724,351
At 28 February 2023 965,802

5. DEBTORS
29.2.24 28.2.23
£    £   
Amounts falling due within one year:
Trade debtors 161,030 28,719
Other debtors 37,123 89,439
198,153 118,158

Amounts falling due after more than one year:
Amounts owed by associates 650,000 -

Aggregate amounts 848,153 118,158

I P HOUSE LIMITED (REGISTERED NUMBER: 09670439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
29.2.24 28.2.23
£    £   
Trade creditors 571,560 542,267
Taxation and social security 1,952 44,483
Other creditors 73,018 76,869
646,530 663,619

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 21,995 32,500
Amounts owed to associates 1,586,645 1,577,420
Other creditors 1,451,731 1,471,731
3,060,371 3,081,651

8. ULTIMATE CONTROLLING PARTY

the company is controlled by the director Mr M Kanbi by virtue of the entire shareholding in the company.