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Registered number: 11225905
IPP Maguire Limited
Unaudited Financial Statements
For The Year Ended 27 February 2025
Accountancy Solutions (Northern) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11225905
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 101,996 115,261
Investments 5 1,203,368 1,116,403
1,305,364 1,231,664
CURRENT ASSETS
Debtors 6 103 329
Cash at bank and in hand 111,423 213,133
111,526 213,462
Creditors: Amounts Falling Due Within One Year 7 (228,776 ) (234,570 )
NET CURRENT ASSETS (LIABILITIES) (117,250 ) (21,108 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,188,114 1,210,556
NET ASSETS 1,188,114 1,210,556
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,188,014 1,210,456
SHAREHOLDERS' FUNDS 1,188,114 1,210,556
Page 1
Page 2
For the year ending 27 February 2025 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Stephanie Maguire
Director
13/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
IPP Maguire Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11225905 . The registered office is 11 North Farm, Pegswood, Northumberland, NE61 6RE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% SL and 5% RB
Motor Vehicles 25% RB
Computer Equipment 20% SL
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 28 February 2024 126,236 23,990 583 150,809
Disposals - (23,990 ) - (23,990 )
As at 27 February 2025 126,236 - 583 126,819
Depreciation
As at 28 February 2024 18,563 16,400 585 35,548
Provided during the period 5,677 - (2 ) 5,675
Disposals - (16,400 ) - (16,400 )
As at 27 February 2025 24,240 - 583 24,823
Net Book Value
As at 27 February 2025 101,996 - - 101,996
As at 28 February 2024 107,673 7,590 (2 ) 115,261
Page 3
Page 4
5. Investments
Other
£
Cost
As at 28 February 2024 1,116,403
Revaluations 86,965
As at 27 February 2025 1,203,368
Provision
As at 28 February 2024 -
As at 27 February 2025 -
Net Book Value
As at 27 February 2025 1,203,368
As at 28 February 2024 1,116,403
6. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 103 271
VAT - 58
103 329
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other taxes and social security 670 8
VAT 2,576 -
Accruals and deferred income - 80
Directors' loan accounts 225,530 234,482
228,776 234,570
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
Page 4