08943490falsethat of providing consultancy2023-01-012023-12-31http://www.companieshouse.gov.uk/2022-12-31http://www.companieshouse.gov.uk/pt:PlantMachinery2022-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2022-12-31http://www.companieshouse.gov.uk/cd:Director12023-01-012023-12-31http://www.companieshouse.gov.uk/pt:PlantMachinery2023-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2023-12-31http://www.companieshouse.gov.uk/cd:Director22023-01-012023-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-01-012023-12-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-01-012023-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22023-01-012023-12-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-01-012023-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-12-31http://www.companieshouse.gov.uk/2023-01-012023-12-31http://www.companieshouse.gov.uk/2022-12-31http://www.companieshouse.gov.uk/cd:FRS1022023-01-012023-12-31http://www.companieshouse.gov.uk/2023-12-31http://www.companieshouse.gov.uk/cd:FullAccounts2023-01-012023-12-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-01-012023-12-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 08943490

International Precious Metals Limited

UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Prepared By:
Lever Bros & Co
Chartered Accountants
First Floor, 690 Great West Road
Osterley Village
Isleworth
TW7 4PU

International Precious Metals Limited

ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
DIRECTORS
J Vakis
M V Albu
REGISTERED OFFICE
First Floor 690 Great West Road
Osterley Village
Isleworth
TW7 4PU
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 08943490
ACCOUNTANTS
Lever Bros & Co
Chartered Accountants
First Floor, 690 Great West Road
Osterley Village
Isleworth
TW7 4PU

International Precious Metals Limited

ACCOUNTS
FOR THEYEARENDED31 DECEMBER 2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

International Precious Metals Limited

BALANCE SHEET AT 31 December 2023
20232022
Notes££
FIXED ASSETS
Tangible assets256,2871,478
CURRENT ASSETS
Stock3443,396504,985
Debtors42,217,928683,539
Cash at bank and in hand143,3154,932
2,804,6391,193,456
CREDITORS: Amounts falling due within one year53,300,3241,403,326
NET CURRENT LIABILITIES(495,685)(209,870)
TOTAL ASSETS LESS CURRENT LIABILITIES(439,398)(208,392)
CREDITORS: Amounts falling due after more than one year635,20148,229
NET LIABILITIES(474,599)(256,621)
CAPITAL AND RESERVES
Called up share capital8100100
Profit and loss account(474,699)2,797,600
SHAREHOLDERS' FUNDS(474,599)2,797,700
For the year ending 31 December 2023 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 8 January 2025 and signed on their behalf by
.............................
J Vakis
Director

International Precious Metals Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Going Concern
At the balance sheet date, the company had net liabilities of £474,599. However, included in creditors was £3,279,591 owed to the directors and other creditors. With the continued support of the directors and other creditors, the directors believe the company to be a going concern.
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 25%
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1e. Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
1f. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.
1g. Turnover
Turnover is derived from services supplied by the company, net of value added tax and trade discounts and is recognised when services are rendered.

International Precious Metals Limited

1h. Statutory Information
International Precious Metals Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number is 08943490 and registered office address is First Floor 690 Great West Road, Osterley Village, Isleworth, TW7 4PU.
1i. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments.
2. TANGIBLE FIXED ASSETS
Plant and
MachineryTotal
££
Cost
At 1 January 20232,7002,700
Additions64,20764,207
At 31 December 202366,90766,907
Depreciation
At 1 January 20231,2221,222
For the year9,3989,398
At 31 December 202310,62010,620
Net Book Amounts
At 31 December 202356,28756,287
At 31 December 20221,4781,478
3. STOCK 20232022
££
Stock comprises:
Stock443,396504,985
443,396504,985
4. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors-10,153
Other debtors2,217,928673,386
2,217,928683,539

International Precious Metals Limited

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Salaries and wages control12,433-
Directors current account414,520448,845
Bank Loan6,000-
Other creditors2,865,071952,931
Accruals2,3001,550
3,300,3241,403,326
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans (unsecured) >1yr35,20148,229
35,20148,229
7. EMPLOYEES
20232022
No.No.
Average number of employees33
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
51 Ordinary A shares of £1.00 each5151
49 Ordinary B shares of £1.00 each4949
100100
9. CONTROLLING PARTY
The company is under the control of the parent company, International Precious Metal Ltd, which is registered in Cyprus.
J Vakis is ultimate controlling party.