Silverfin false false 29/02/2024 01/03/2023 29/02/2024 Timothy James Hosking 05/02/2021 David Ward 02/03/2022 26 November 2024 The principal activity of the Company during the financial year was that of property rental. 13183359 2024-02-29 13183359 bus:Director1 2024-02-29 13183359 bus:Director2 2024-02-29 13183359 2023-02-28 13183359 core:CurrentFinancialInstruments 2024-02-29 13183359 core:CurrentFinancialInstruments 2023-02-28 13183359 core:Non-currentFinancialInstruments 2024-02-29 13183359 core:Non-currentFinancialInstruments 2023-02-28 13183359 core:ShareCapital 2024-02-29 13183359 core:ShareCapital 2023-02-28 13183359 core:RetainedEarningsAccumulatedLosses 2024-02-29 13183359 core:RetainedEarningsAccumulatedLosses 2023-02-28 13183359 bus:OrdinaryShareClass1 2024-02-29 13183359 2023-03-01 2024-02-29 13183359 bus:FilletedAccounts 2023-03-01 2024-02-29 13183359 bus:SmallEntities 2023-03-01 2024-02-29 13183359 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13183359 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13183359 bus:Director1 2023-03-01 2024-02-29 13183359 bus:Director2 2023-03-01 2024-02-29 13183359 2022-03-01 2023-02-28 13183359 core:Non-currentFinancialInstruments 2023-03-01 2024-02-29 13183359 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 13183359 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13183359 (England and Wales)

IPERIUM PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

IPERIUM PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

IPERIUM PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 29 February 2024
IPERIUM PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 290,000 290,000
290,000 290,000
Current assets
Debtors 4 3,935 2,677
Cash at bank and in hand 36,376 65,338
40,311 68,015
Creditors: amounts falling due within one year 5 ( 183,863) ( 207,888)
Net current liabilities (143,552) (139,873)
Total assets less current liabilities 146,448 150,127
Creditors: amounts falling due after more than one year 6 ( 178,388) ( 178,388)
Net liabilities ( 31,940) ( 28,261)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 32,040 ) ( 28,361 )
Total shareholders' deficit ( 31,940) ( 28,261)

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Iperium Property Limited (registered number: 13183359) were approved and authorised for issue by the Board of Directors on 26 November 2024. They were signed on its behalf by:

David Ward
Director
IPERIUM PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
IPERIUM PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Iperium Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 8 Ardent Court, William James Way, Henley-In-Arden, B95 5GF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Land and buildings were valued at date of purchase May 2021.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 March 2023 290,000
As at 29 February 2024 290,000

Assumptions

These assumptions were arrived at taking account of information and advice from external property consultants, in-house property experts, publicly available data and judgement. A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements. The 2024 valuations were made by the directors, on an open market value for existing use basis.

Based on the knowledge known of such properties, the directors have confirmed that the property valuation is consistent to the value at the time of purchase in May 2021.

External independent valuations will be obtained on a regular basis to ensure that the valuations shown are in line with external valuations.

4. Debtors

2024 2023
£ £
Deferred tax asset 3,903 2,677
VAT recoverable 32 0
3,935 2,677

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 17,789 15,355
Trade creditors 192 3,150
Amounts owed to Group undertakings 161,202 185,138
Accruals 2,250 2,431
Other taxation and social security 2,430 1,814
183,863 207,888

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 178,388 178,388

The loan is secured on the property owned by the company.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts owed to related company - balance shown in Creditors due within one year 161,202 185,138