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REGISTERED NUMBER: 07259665 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

IPC ELECTRONICS LIMITED

IPC ELECTRONICS LIMITED (REGISTERED NUMBER: 07259665)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


IPC ELECTRONICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Mr D P R Knight



REGISTERED OFFICE: The Tower
Daltongate Business Centre
Daltongate
Ulverston
Cumbria
LA12 7AJ



BUSINESS ADDRESS: Holker School
Cark in Cartmel
Grange-over-Sands
Cumbria
LA11 7PQ



REGISTERED NUMBER: 07259665 (England and Wales)



BANKERS: HSBC Bank plc
35 Market Street
Lancaster
Lancashire
LA1 1JQ

IPC ELECTRONICS LIMITED (REGISTERED NUMBER: 07259665)

ABRIDGED BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 12,000
Tangible assets 5 6,960 7,798
12,960 19,798

CURRENT ASSETS
Stocks 130,830 115,210
Debtors 94,421 95,289
Cash at bank 58,054 55,052
283,305 265,551
CREDITORS
Amounts falling due within one year 61,126 66,003
NET CURRENT ASSETS 222,179 199,548
TOTAL ASSETS LESS CURRENT
LIABILITIES

235,139

219,346

CREDITORS
Amounts falling due after more than one
year

262,303

276,503
NET LIABILITIES (27,164 ) (57,157 )

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings (27,166 ) (57,159 )
SHAREHOLDERS' FUNDS (27,164 ) (57,157 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

IPC ELECTRONICS LIMITED (REGISTERED NUMBER: 07259665)

ABRIDGED BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 February 2025 and were signed by:





Mr D P R Knight - Director


IPC ELECTRONICS LIMITED (REGISTERED NUMBER: 07259665)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

IPC Electronics 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 (£).


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.

The financial statements have been prepared on the going concern basis.

Turnover
Turnover represents net invoiced sales of goods and services, excluding VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

IPC ELECTRONICS LIMITED (REGISTERED NUMBER: 07259665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023
and 30 June 2024 330,464
AMORTISATION
At 1 July 2023 318,464
Amortisation for year 6,000
At 30 June 2024 324,464
NET BOOK VALUE

At 30 June 2024 6,000
At 30 June 2023 12,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 24,128
Additions 1,100
At 30 June 2024 25,228
DEPRECIATION
At 1 July 2023 16,330
Charge for year 1,938
At 30 June 2024 18,268
NET BOOK VALUE
At 30 June 2024 6,960
At 30 June 2023 7,798

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 14,700 14,700
Between one and five years 17,150 31,850
31,850 46,550

The director, Mr D P R Knight has provided a personal guarantee to cover the minimum lease payments due above.

IPC ELECTRONICS LIMITED (REGISTERED NUMBER: 07259665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2 Ordinary £1 2 2

8. RELATED PARTY DISCLOSURES

At 30th June 2024 Mr D P R Knight , a director of the company, had, on an unsecured interest free basis, advanced £244,103 to the company.

(Prior year £256,103)