Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseThe Company's principal activity continued to be of Investment Property00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10640555 2023-04-01 2024-03-31 10640555 2022-04-01 2023-03-31 10640555 2024-03-31 10640555 2023-03-31 10640555 2022-04-01 10640555 c:Director1 2023-04-01 2024-03-31 10640555 d:CurrentFinancialInstruments 2024-03-31 10640555 d:CurrentFinancialInstruments 2023-03-31 10640555 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10640555 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10640555 d:ShareCapital 2023-04-01 2024-03-31 10640555 d:ShareCapital 2024-03-31 10640555 d:ShareCapital 2022-04-01 2023-03-31 10640555 d:ShareCapital 2023-03-31 10640555 d:ShareCapital 2022-04-01 10640555 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10640555 d:RetainedEarningsAccumulatedLosses 2024-03-31 10640555 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 10640555 d:RetainedEarningsAccumulatedLosses 2023-03-31 10640555 d:RetainedEarningsAccumulatedLosses 2022-04-01 10640555 c:FRS102 2023-04-01 2024-03-31 10640555 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10640555 c:FullAccounts 2023-04-01 2024-03-31 10640555 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10640555 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 10640555









IPE ARNISON ROAD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
IPE ARNISON ROAD LIMITED
REGISTERED NUMBER: 10640555

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
2,069,272
1,957,365

Debtors: amounts falling due within one year
 5 
11,128
23,136

Cash at bank and in hand
 6 
63
1,083

  
2,080,463
1,981,584

Creditors: amounts falling due within one year
 7 
(2,034,992)
(1,866,571)

Net current assets
  
 
 
45,471
 
 
115,013

Total assets less current liabilities
  
45,471
115,013

  

Net assets
  
45,471
115,013


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
44,471
114,013

  
45,471
115,013


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 February 2025.

................................................
Mohammed Adnan Imam
Director

The notes on pages 5 to 9 form part of these financial statements.
Page 1

 
IPE ARNISON ROAD LIMITED
REGISTERED NUMBER: 10640555
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


Page 2

 
IPE ARNISON ROAD LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2023
1,000
114,013
115,013


Comprehensive income for the Period

Loss for the Period

-
(69,542)
(69,542)


Other comprehensive income for the Period
-
-
-


Total comprehensive income for the Period
-
(69,542)
(69,542)


Total transactions with owners
-
-
-


At 31 March 2024
1,000
44,471
45,471


The notes on pages 5 to 9 form part of these financial statements.

Page 3

 
IPE ARNISON ROAD LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2022
1,000
114,069
115,069


Comprehensive income for the year

Loss for the year

-
(56)
(56)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(56)
(56)


Total transactions with owners
-
-
-


At 31 March 2023
1,000
114,013
115,013


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 
IPE ARNISON ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

The company is a members limited liability company incorporated in the United Kingdom.
The registered address of the company is:
22 Gilbert Street
London
W1K 5HD
The principal activity of the company continued to be that of rental property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the Period in which they are incurred.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
IPE ARNISON ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly
Page 6

 
IPE ARNISON ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments
Page 7

 
IPE ARNISON ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


Stocks

2024
2023
£
£

Work in progress (goods to be sold)
2,069,272
1,957,365

2,069,272
1,957,365



5.


Debtors

2024
2023
£
£


Trade debtors
978
2,273

Other debtors
10,150
20,863

11,128
23,136


Page 8

 
IPE ARNISON ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
63
1,083

63
1,083



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
1,268,958
1,215,422

Trade creditors
16,309
19,684

Amounts owed to group undertakings
437,269
335,106

Other creditors
312,456
296,359

2,034,992
1,866,571


The following liabilities were secured:

2024
2023
£
£



Bank loan
1,268,958
1,175,253

1,268,958
1,175,253

Details of security provided:

Bank loan of £1,268,958 (2023:  £1,175,253) was secured on the assets of the company.

 
Page 9