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REGISTERED NUMBER: 12246492 (England and Wales)














IG ASSETS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






IG ASSETS LTD (REGISTERED NUMBER: 12246492)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


IG ASSETS LTD

COMPANY INFORMATION
for the Year Ended 31 October 2024







DIRECTOR: I Gjini





REGISTERED OFFICE: 5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE





REGISTERED NUMBER: 12246492 (England and Wales)





ACCOUNTANTS: Miller & Co
Chartered Accountants
5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE

IG ASSETS LTD (REGISTERED NUMBER: 12246492)

STATEMENT OF FINANCIAL POSITION
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 1,600,000 1,340,000

CURRENT ASSETS
Debtors 6 1,400 -
Cash at bank 1,760 10,196
3,160 10,196
CREDITORS
Amounts falling due within one year 7 476,028 392,389
NET CURRENT LIABILITIES (472,868 ) (382,193 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,127,132

957,807

CREDITORS
Amounts falling due after more than one
year

8

(1,045,558

)

(844,559

)

PROVISIONS FOR LIABILITIES (17,781 ) (27,063 )
NET ASSETS 63,793 86,185

CAPITAL AND RESERVES
Called up, paid and allotted share capital 1 1
Non-distributable reserves 10 36,174 81,187
Retained earnings 10 27,618 4,997
SHAREHOLDERS' FUNDS 63,793 86,185

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

IG ASSETS LTD (REGISTERED NUMBER: 12246492)

STATEMENT OF FINANCIAL POSITION - continued
31 October 2024


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 2 January 2025 and were signed by:





I Gjini - Director


IG ASSETS LTD (REGISTERED NUMBER: 12246492)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

IG Assets 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.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

IG ASSETS LTD (REGISTERED NUMBER: 12246492)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 1,340,000
Additions 314,295
Revaluations (54,295 )
At 31 October 2024 1,600,000
NET BOOK VALUE
At 31 October 2024 1,600,000
At 31 October 2023 1,340,000

Investment properties were valued on an open market basis on 31 October 2024 by the director.

If investment properties had not been revalued they would have been included at historical cost totalling £1,546,045.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,400 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 5,541 2,579
Other creditors 470,487 389,810
476,028 392,389

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,045,558 844,559

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,045,558 844,559

9. SECURED DEBTS

The bank loans are secured by a guarantee provided by Mr Gjini, a director of the Company.

IG ASSETS LTD (REGISTERED NUMBER: 12246492)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

10. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 1 November 2023 4,997 81,187 86,184
Deficit for the year (21,392 ) (21,392 )
Dividends (1,000 ) (1,000 )
Trf of revaluations in year 45,013 (45,013 ) -
At 31 October 2024 27,618 36,174 63,792

11. RELATED PARTY DISCLOSURES

The director operates a loan account with the company. During the year, additional loans in aggregate of £80,605 were provided by the director. At the year end, the director was owed £468,939.