IRIS Accounts Production v24.3.0.553 11398981 director 1.7.23 30.6.24 30.6.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh113989812023-06-30113989812024-06-30113989812023-07-012024-06-30113989812022-06-30113989812022-07-012023-06-30113989812023-06-3011398981ns15:EnglandWales2023-07-012024-06-3011398981ns14:PoundSterling2023-07-012024-06-3011398981ns10:Director12023-07-012024-06-3011398981ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3011398981ns10:SmallEntities2023-07-012024-06-3011398981ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3011398981ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3011398981ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3011398981ns10:FullAccounts2023-07-012024-06-3011398981ns10:RegisteredOffice2023-07-012024-06-3011398981ns5:CurrentFinancialInstruments2024-06-3011398981ns5:CurrentFinancialInstruments2023-06-3011398981ns5:ShareCapital2024-06-3011398981ns5:ShareCapital2023-06-3011398981ns5:RetainedEarningsAccumulatedLosses2024-06-3011398981ns5:RetainedEarningsAccumulatedLosses2023-06-3011398981ns5:LandBuildings2023-06-3011398981ns5:LandBuildings2024-06-3011398981ns5:LandBuildings2023-06-3011398981ns5:CostValuation2023-06-3011398981ns5:DisposalsRepaymentsInvestments2024-06-3011398981ns5:CostValuation2024-06-3011398981ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3011398981ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30
REGISTERED NUMBER: 11398981 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

I P 7 LIMITED

I P 7 LIMITED (REGISTERED NUMBER: 11398981)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


I P 7 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: R B Callaway





REGISTERED OFFICE: 5 The Quadrant
Coventry
United Kingdom
CV1 2EL





REGISTERED NUMBER: 11398981 (England and Wales)





ACCOUNTANTS: Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL

I P 7 LIMITED (REGISTERED NUMBER: 11398981)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 161,857 161,857
Investments 5 200,000 400,000
361,857 561,857

CURRENT ASSETS
Debtors 6 87,927 67,500
Cash at bank and in hand 150 3,028
88,077 70,528
CREDITORS
Amounts falling due within one year 7 353,434 595,477
NET CURRENT LIABILITIES (265,357 ) (524,949 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,500

36,908

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 96,400 36,808
96,500 36,908

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

I P 7 LIMITED (REGISTERED NUMBER: 11398981)

BALANCE SHEET - continued
30 JUNE 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 March 2025 and were signed by:





R B Callaway - Director


I P 7 LIMITED (REGISTERED NUMBER: 11398981)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

I P 7 Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 July 2023
and 30 June 2024 161,857
NET BOOK VALUE
At 30 June 2024 161,857
At 30 June 2023 161,857

I P 7 LIMITED (REGISTERED NUMBER: 11398981)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. FIXED ASSET INVESTMENTS
Other
loans
£   
At 1 July 2023 400,000
Repayment in year (200,000 )
At 30 June 2024 200,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 87,927 67,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 18,934 3,827
Other creditors 334,500 591,650
353,434 595,477