Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 12468167 Dr Ishan Gunatunga Ms Ansunel Fourie Dr Ishan Gunatunga and Ansunel Fourie true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12468167 2023-02-28 12468167 2024-02-29 12468167 2023-03-01 2024-02-29 12468167 frs-core:CurrentFinancialInstruments 2024-02-29 12468167 frs-core:Non-currentFinancialInstruments 2024-02-29 12468167 frs-core:LandBuildings 2024-02-29 12468167 frs-core:LandBuildings 2023-03-01 2024-02-29 12468167 frs-core:LandBuildings 2023-02-28 12468167 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12468167 frs-core:ShareCapital 2024-02-29 12468167 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12468167 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12468167 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 12468167 frs-bus:SmallEntities 2023-03-01 2024-02-29 12468167 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12468167 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12468167 1 2023-03-01 2024-02-29 12468167 frs-bus:Director1 2023-03-01 2024-02-29 12468167 frs-bus:Director2 2023-03-01 2024-02-29 12468167 frs-countries:EnglandWales 2023-03-01 2024-02-29 12468167 2022-02-28 12468167 2023-02-28 12468167 2022-03-01 2023-02-28 12468167 frs-core:CurrentFinancialInstruments 2023-02-28 12468167 frs-core:Non-currentFinancialInstruments 2023-02-28 12468167 frs-core:ShareCapital 2023-02-28 12468167 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 12468167
IPG Homes Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Xeinadin South Wales & West Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12468167
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,467,600 1,377,098
1,467,600 1,377,098
CURRENT ASSETS
Debtors 5 19,207 7,643
Cash at bank and in hand 38,904 65,276
58,111 72,919
Creditors: Amounts Falling Due Within One Year 6 (407,277 ) (419,894 )
NET CURRENT ASSETS (LIABILITIES) (349,166 ) (346,975 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,118,434 1,030,123
Creditors: Amounts Falling Due After More Than One Year 7 (1,102,448 ) (1,104,182 )
NET ASSETS/(LIABILITIES) 15,986 (74,059 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 15,886 (74,159 )
SHAREHOLDERS' FUNDS 15,986 (74,059)
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Ishan Gunatunga
Director
29/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
IPG Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12468167 . The registered office is Larkspur House, Druidstone Road , Old St Mellon, Cardiff, CF3 6XD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Buildings
£
Cost or Valuation
As at 1 March 2023 1,467,600
As at 29 February 2024 1,467,600
Depreciation
As at 1 March 2023 90,502
Provided during the period (90,502 )
As at 29 February 2024 -
...CONTINUED
Page 3
Page 4
Net Book Value
As at 29 February 2024 1,467,600
As at 1 March 2023 1,377,098
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 19,207 7,643
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 49 2,585
Accrued expenses 1,500 1,535
Directors' loan accounts 405,728 415,774
407,277 419,894
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,102,448 1,104,182
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
As at Balance Sheet date the company owed to the directors £405,728 (2022: £415,725).
10. Ultimate Controlling Party
The company's ultimate controlling party is Dr Ishan Gunatunga and Ansunel Fourie by virtue of his ownership of 100% of the issued share capital in the company.
Page 4