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REGISTERED NUMBER: 09654572 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Ideal Property Projects Ltd

Ideal Property Projects Ltd (Registered number: 09654572)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ideal Property Projects Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Ms K Gledhill
M J Gledhill





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: 09654572 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Ideal Property Projects Ltd (Registered number: 09654572)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,117,681 1,105,612

CURRENT ASSETS
Debtors 5 1,587,454 1,818,878
Cash at bank and in hand 150,008 175,752
1,737,462 1,994,630
CREDITORS
Amounts falling due within one year 6 63,695 1,177,034
NET CURRENT ASSETS 1,673,767 817,596
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,791,448

1,923,208

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,791,446 1,923,206
SHAREHOLDERS' FUNDS 2,791,448 1,923,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:



M J Gledhill - Director


Ideal Property Projects Ltd (Registered number: 09654572)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Ideal Property Projects Ltd 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.

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 functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Other investments
Other investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


Ideal Property Projects Ltd (Registered number: 09654572)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provision for liabilities
Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Dividends
Dividends are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS

31.3.24 31.3.23
£    £   
Shares in group undertakings 1 1
Participating interests 2 2
Other investments not loans 1,117,678 1,105,609
1,117,681 1,105,612

Ideal Property Projects Ltd (Registered number: 09654572)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1 2 3
NET BOOK VALUE
At 31 March 2024 1 2 3
At 31 March 2023 1 2 3

Investments (neither listed nor unlisted) were as follows:
31.3.24 31.3.23
£    £   
Brought forward 1,105,609 1,105,609
Capital introduced 12,069 -
1,117,678 1,105,609

Investments (neither listed nor unlisted) represent the company's capital account balance in a limited liability partnership.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by participating interests 1,400,084 1,631,508
Other debtors 187,370 187,370
1,587,454 1,818,878

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings 62,520 83,443
Amounts owed to participating interests - 605,000
Taxation and social security 1,175 20
Other creditors - 488,571
63,695 1,177,034

Ideal Property Projects Ltd (Registered number: 09654572)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. RELATED PARTY DISCLOSURES

As at the balance sheet date £32,270 (2023: £32,270) was owing from entities connected to key management personnel. The loans are interest free, repayable on demand and included in debtors falling due within one year.

As at the balance sheet date £nil (2023: £488,571) was owing to entities connected to key management personnel. The loans are interest free, repayable on demand and included in debtors falling due within one year.

As at the balance sheet date £62,520 (2023: £83,443) was owing to group companies. The loan is interest free, repayable on demand and included in debtors falling due within one year

As at the balance sheet date £nil (2023: £605,000) was owing to participating interests. The loans are interest free, repayable on demand and included in creditors falling due within one year.

As at the balance sheet date £1,400,083 (2023: £1,631,508) was owing from participating interests. The loans are interest free, repayable on demand and included in debtors falling due within one year.