IRIS Accounts Production v24.1.4.33 07512999 Board of Directors 29.9.23 28.9.24 28.9.24 The company owns a freehold interest in the site known as Ivor Court, Gloucester Place, London NW1. The company benefits from rental income from this property and has the responsibility to control, supervise and manage this site on behalf of the lessees. 0 0 false true false false true false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075129992023-09-28075129992024-09-28075129992023-09-292024-09-28075129992022-09-28075129992022-09-292023-09-28075129992023-09-2807512999ns15:EnglandWales2023-09-292024-09-2807512999ns14:PoundSterling2023-09-292024-09-2807512999ns10:Director12023-09-292024-09-2807512999ns10:PrivateLimitedCompanyLtd2023-09-292024-09-2807512999ns10:SmallEntities2023-09-292024-09-2807512999ns10:AuditExemptWithAccountantsReport2023-09-292024-09-2807512999ns10:SmallCompaniesRegimeForDirectorsReport2023-09-292024-09-2807512999ns10:SmallCompaniesRegimeForAccounts2023-09-292024-09-2807512999ns10:FullAccounts2023-09-292024-09-2807512999ns10:Director22023-09-292024-09-2807512999ns10:CompanySecretary12023-09-292024-09-2807512999ns10:RegisteredOffice2023-09-292024-09-2807512999ns5:Exceptional2023-09-292024-09-2807512999ns5:Exceptional2022-09-292023-09-2807512999ns5:CurrentFinancialInstruments2024-09-2807512999ns5:CurrentFinancialInstruments2023-09-2807512999ns5:Non-currentFinancialInstruments2024-09-2807512999ns5:Non-currentFinancialInstruments2023-09-2807512999ns5:ShareCapital2024-09-2807512999ns5:ShareCapital2023-09-2807512999ns5:RetainedEarningsAccumulatedLosses2024-09-2807512999ns5:RetainedEarningsAccumulatedLosses2023-09-2807512999ns5:LandBuildings2023-09-2807512999ns5:LandBuildings2023-09-292024-09-2807512999ns5:LandBuildings2024-09-2807512999ns5:LandBuildings2023-09-2807512999ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-09-2807512999ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-2807512999ns5:Non-currentFinancialInstruments2023-09-292024-09-28
REGISTERED NUMBER: 07512999 (England and Wales)










REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 SEPTEMBER 2024

FOR

IVOR COURT FREEHOLD LIMITED

IVOR COURT FREEHOLD LIMITED (REGISTERED NUMBER: 07512999)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2024




Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


IVOR COURT FREEHOLD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 SEPTEMBER 2024







DIRECTORS: N E Barclay
S Goldring





SECRETARY: Michael Laurie Magar Limited





REGISTERED OFFICE: c/o Michael Laurie Magar Limited
1 The Beacons
Hatfield
Hertfordshire
AL10 8RS





REGISTERED NUMBER: 07512999 (England and Wales)





ACCOUNTANTS: Websters
12 Melcombe Place
London
NW1 6JJ

IVOR COURT FREEHOLD LIMITED (REGISTERED NUMBER: 07512999)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 28 SEPTEMBER 2024

The directors present their report with the financial statements of the company for the year ended 28 September 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 29 September 2023 to the date of this report.

N E Barclay
S Goldring

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS
The company's Articles of Association provide, subject to the provisions of UK legislation, an indemnity for directors and officers of the company in respect of liabilities they may incur in defending certain proceedings against them.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S Goldring - Director


25 March 2025

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
IVOR COURT FREEHOLD LIMITED


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ivor Court Freehold Limited for the year ended 28 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ivor Court Freehold Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ivor Court Freehold Limited and state those matters that we have agreed to state to the Board of Directors of Ivor Court Freehold Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ivor Court Freehold Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ivor Court Freehold Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ivor Court Freehold Limited. You consider that Ivor Court Freehold Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ivor Court Freehold Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Websters
12 Melcombe Place
London
NW1 6JJ


27 March 2025

IVOR COURT FREEHOLD LIMITED (REGISTERED NUMBER: 07512999)

INCOME STATEMENT
FOR THE YEAR ENDED 28 SEPTEMBER 2024

28.9.24 28.9.23
Notes £    £   

TURNOVER 52,022 42,905

Administrative expenses (27,932 ) (21,671 )
OPERATING PROFIT 4 24,090 21,234

Profit/loss on disposal of fixed assets 5 3,182 28,134
27,272 49,368

Interest receivable and similar income 2,462 9
PROFIT BEFORE TAXATION 29,734 49,377

Tax on profit 6 (5,463 ) (8,341 )
PROFIT FOR THE FINANCIAL YEAR 24,271 41,036

IVOR COURT FREEHOLD LIMITED (REGISTERED NUMBER: 07512999)

BALANCE SHEET
28 SEPTEMBER 2024

28.9.24 28.9.23
Notes £    £   
FIXED ASSETS
Tangible assets 7 491,007 492,425

CURRENT ASSETS
Debtors 8 285,085 252,592

CREDITORS
Amounts falling due within one year 9 (22,494 ) (15,690 )
NET CURRENT ASSETS 262,591 236,902
TOTAL ASSETS LESS CURRENT
LIABILITIES

753,598

729,327

CREDITORS
Amounts falling due after more than one year 10 (57,678 ) (57,678 )
NET ASSETS 695,920 671,649

CAPITAL AND RESERVES
Called up share capital 463,552 463,552
Retained earnings 232,368 208,097
SHAREHOLDERS' FUNDS 695,920 671,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 September 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





S Goldring - Director


IVOR COURT FREEHOLD LIMITED (REGISTERED NUMBER: 07512999)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2024

1. STATUTORY INFORMATION

Ivor Court Freehold 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover comprises revenue recognised by the company in respect of rents receivable from the tenants of Ivor Court, Gloucester Place, London NW1.

Service charge funds
The company receives contributions towards property outgoings from the lessees to the service charge fund. However, as set out in Section 42 of The Landlord & Tenant Act 1987, the company holds these funds in trust for the lessees and therefore it is the opinion of the directors that these contributions along with the assets and liabilities of the service charge fund should not be reflected in the accounts.

Depreciation
No depreciation has been provided on the reversionary freehold interest as the directors are of the view that's its value will not diminish. The directors consider that this accounting policy, which is a departure from the requirements of the Companies Act concerning depreciation of fixed assets, is therefore necessary to provide a true and fair view.

3. EMPLOYEES AND DIRECTORS

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

4. OPERATING PROFIT

The directors received no remuneration in respect of their services to the company for the year.

5. EXCEPTIONAL ITEMS
28.9.24 28.9.23
£    £   
Profit/loss on disposal of fixed assets 3,182 28,134

6. TAXATION

The rents receivable by the company are chargeable to UK corporation tax.

For tax purposes, service charge funds are deemed to be held by the company in trust for the tenants and hence any taxable income is subject to income tax at the rate applicable to trusts and falls outside the scope of corporation tax.

IVOR COURT FREEHOLD LIMITED (REGISTERED NUMBER: 07512999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 SEPTEMBER 2024

7. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 29 September 2023 492,425
Disposals (see Note 5) (1,418 )
At 28 September 2024 491,007
NET BOOK VALUE
At 28 September 2024 491,007
At 28 September 2023 492,425

The company owns the freehold interest in Ivor Court. In the directors’ opinion the property does not qualify as an Investment Property as defined by the provisions of Section 16 of FRS102 as the property is held for administrative purposes and the ground rental income has not been negotiated at arm's length. Therefore the property is held on the balance sheet at cost.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.9.24 28.9.23
£    £   
Other debtors and prepayments 1,092 49,261
Funds held by managing agent
in 3rd party client accounts 283,993 203,331
285,085 252,592

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.9.24 28.9.23
£    £   
Taxation and social security 13,644 12,390
Other creditors and accruals 8,850 3,300
22,494 15,690

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.9.24 28.9.23
£    £   
Participator Loans 57,678 57,678

The above loans are interest free and were made by the shareholders of the company with no repayment terms. The loans are repayable at the sole discretion of the company.

11. CONTROLLING PARTY

The company is controlled by a voting majority of its shareholders and accordingly there is no ultimate controlling party.