Registered number
04081870
IPA Properties Limited
Filleted Accounts
31 July 2024
IPA Properties Limited
Registered number: 04081870
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 344,876 345,469
Current assets
Cash at bank and in hand 41,477 29,252
Creditors: amounts falling due within one year 4 (83,263) (84,553)
Net current liabilities (41,786) (55,301)
Net assets 303,090 290,168
Capital and reserves
Called up share capital 3 3
Profit and loss account 303,087 290,165
Shareholders' funds 303,090 290,168
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs P E Jackson
Director
Approved by the board on 26 March 2025
IPA Properties Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles over 4 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 August 2023 343,096 10,000 353,096
At 31 July 2024 343,096 10,000 353,096
Depreciation
At 1 August 2023 - 7,627 7,627
Charge for the year - 593 593
At 31 July 2024 - 8,220 8,220
Net book value
At 31 July 2024 343,096 1,780 344,876
At 31 July 2023 343,096 2,373 345,469
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 348 120
Taxation and social security costs 3,987 4,085
Other creditors 78,928 80,348
83,263 84,553
5 Other information
IPA Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3 Eastwood Court
Hawarden Industrial Park
Manor Lane
Hawarden
CH5 3QB
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