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Company No: 09918087 (England and Wales)

INTREPID PROPERTY LIMITED

Abridged Unaudited Financial Statements
For the financial year ended 31 December 2024

INTREPID PROPERTY LIMITED

Abridged Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

INTREPID PROPERTY LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
INTREPID PROPERTY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS Jeffrey Boardman
Natalie Boardman
REGISTERED OFFICE Southwell Cottage
51 Wivelsfield Road
Haywards Heath
RH16 4EN
United Kingdom
COMPANY NUMBER 09918087 (England and Wales)
ACCOUNTANT Synergee
Pluto House
6 Vale Avenue
Tunbridge Wells
TN1 1DJ
INTREPID PROPERTY LIMITED

BALANCE SHEET

As at 31 December 2024
INTREPID PROPERTY LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 870,628 820,000
870,628 820,000
Current assets
Debtors 3,941 89,681
Cash at bank and in hand 5,191 17,677
9,132 107,358
Creditors: amounts falling due within one year ( 118,063) ( 178,864)
Net current liabilities (108,931) (71,506)
Total assets less current liabilities 761,697 748,494
Creditors: amounts falling due after more than one year ( 433,757) ( 433,757)
Provision for liabilities 4 ( 46,257) ( 46,257)
Net assets 281,683 268,480
Capital and reserves
Called-up share capital 100 100
Revaluation reserve 197,202 197,202
Profit and loss account 84,381 71,178
Total shareholders' funds 281,683 268,480

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Intrepid Property Limited (registered number: 09918087) were approved and authorised for issue by the Board of Directors on 06 March 2025. They were signed on its behalf by:

Natalie Boardman
Director
INTREPID PROPERTY LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
INTREPID PROPERTY LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Intrepid Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Southwell Cottage, 51 Wivelsfield Road, Haywards Heath, RH16 4EN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated
Fixtures and fittings 3 years straight line
Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Investment property Fixtures and fittings Total
£ £ £
Cost/Valuation
At 01 January 2024 820,000 199 820,199
Additions 50,628 0 50,628
At 31 December 2024 870,628 199 870,827
Accumulated depreciation
At 01 January 2024 0 199 199
At 31 December 2024 0 199 199
Net book value
At 31 December 2024 870,628 0 870,628
At 31 December 2023 820,000 0 820,000

4. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 46,257) ( 46,257)
At the end of financial year ( 46,257) ( 46,257)

5. Related party transactions

Other related party transactions

2024 2023
£ £
Intrepid Bee Limited 31,407 116,407
Dimittere Limited 0 85,000

At the year end the company owed £31,407 (2023: £116,407) to Intrepid Bee Limited, a company in which certain key management personnel are a director and shareholder.

At the year end the company was owed Nil (2023: £85,000) to Dimittere Limited, a company in which certain key management personnel are a director and shareholder.