Acorah Software Products - Accounts Production 16.3.350 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 11052410 Mr Ian Morgan Mr Michael Morgan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11052410 2023-03-31 11052410 2024-03-31 11052410 2023-04-01 2024-03-31 11052410 frs-core:CurrentFinancialInstruments 2024-03-31 11052410 frs-core:Non-currentFinancialInstruments 2024-03-31 11052410 frs-core:FurnitureFittings 2023-04-01 2024-03-31 11052410 frs-core:ShareCapital 2024-03-31 11052410 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11052410 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11052410 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11052410 frs-bus:SmallEntities 2023-04-01 2024-03-31 11052410 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11052410 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11052410 frs-bus:Director1 2023-04-01 2024-03-31 11052410 frs-bus:Director2 2023-04-01 2024-03-31 11052410 frs-countries:EnglandWales 2023-04-01 2024-03-31 11052410 2022-03-31 11052410 2023-03-31 11052410 2022-04-01 2023-03-31 11052410 frs-core:CurrentFinancialInstruments 2023-03-31 11052410 frs-core:Non-currentFinancialInstruments 2023-03-31 11052410 frs-core:ShareCapital 2023-03-31 11052410 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 11052410
IPM PROPERTIES LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 11052410
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 767,780 749,024
Debtors 5 869 1,906
Cash at bank and in hand 136 52
768,785 750,982
Creditors: Amounts Falling Due Within One Year 6 (413,292 ) (387,767 )
NET CURRENT ASSETS (LIABILITIES) 355,493 363,215
TOTAL ASSETS LESS CURRENT LIABILITIES 355,493 363,215
Creditors: Amounts Falling Due After More Than One Year 7 (547,470 ) (484,793 )
NET LIABILITIES (191,977 ) (121,578 )
CAPITAL AND RESERVES
Called up share capital 8 7 7
Profit and Loss Account (191,984 ) (121,585 )
SHAREHOLDERS' FUNDS (191,977) (121,578)
For the year ending 31 March 2024 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
Mr Ian Morgan
Director
31st March 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
IPM PROPERTIES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11052410 . The registered office is 1 Westminster Road, Walden, M28 3AW.
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. 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:
Fixtures & Fittings 25% Reducing balance
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Stocks
2024 2023
£ £
Work in progress 767,780 749,024
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 550 -
VAT 319 1,906
869 1,906
Page 2
Page 3
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 125,153 24,246
Bank loans and overdrafts 10,476 10,728
Other creditors 251,170 156,400
Accruals and deferred income - 124,500
Directors' loan accounts 26,493 71,893
413,292 387,767
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 547,470 484,793
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 7 7
Page 3