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Registered number: 10958724 IPE WOOD STREET LIMITED UNAUDITED DIRECTOR'S REPORT AND FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 27 SEPTEMBER 2024
IPE WOOD STREET LIMITED COMPANY INFORMATION
Directors | Mohammed Adnan Imam
| Joshua Daniel Reuben , resigned 1 September 2024)
Registered number | 10958724
Registered office | 2nd Floor
| 22 Gilbert Street
| London
| W1K 5HD
IPE WOOD STREET LIMITED CONTENTS
| Page
Director's report | 1
Profit and loss account | 2
Balance sheet | 3
Statement of changes in equity | 4 - 5
Notes to the financial statements | 6 - 8
IPE WOOD STREET LIMITED DIRECTOR'S REPORT FOR THE PERIOD ENDED 27 SEPTEMBER 2024 The director presents his report and the financial statements for the period ended 27 September 2024.
Principal activity
Enter the Company's principal activity here...
Directors
The directors who served during the period were:
Mohammed Adnan Imam (appointed 12 September 2017)
Joshua Daniel Reuben (appointed 12 September 2017, resigned 1 September 2024)
Page 1
IPE WOOD STREET LIMITED PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 27 SEPTEMBER 2024
| 27 September | 31 March
| 2024 | 2023
Note | £ | £
Turnover |  | 608,569 | 7,503,784
Cost of sales |  | (545,920) | (8,109,450)
Gross profit/(loss) |  | 62,649 | (605,666)
Administrative expenses |  | (4,213) | 379,713
Operating profit/(loss) |  | 58,436 | (225,953)
Profit/(loss) for the financial period |  | 58,436 | (225,953)
The notes on pages 6 to 8 form part of these financial statements.
Page 2
IPE WOOD STREET LIMITED REGISTERED NUMBER: 10958724 BALANCE SHEET AS AT 27 SEPTEMBER 2024
|  | 27 September |  | 31 March
|  | 2024 |  | 2023
Note |  | £ |  | £
Current assets |  |  |  |  |
Stocks | 4 | 398,258 |  | 930,000 |
Debtors: amounts falling due within one year | 5 | 288,902 |  | 321,168 |
|  | 687,160 |  | 1,251,168 |
Creditors: amounts falling due within one year | 6 | (628,624) |  | (1,251,068) |
Net current assets |  |  | 58,536 |  | 100
Total assets less current liabilities |  |  | 58,536 |  | 100
Net assets |  |  | 58,536 |  | 100
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 58,436 |  | -
|  |  | 58,536 |  | 100
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 June 2025.
Mohammed Adnan Imam
Director
The notes on pages 6 to 8 form part of these financial statements. Page 3
IPE WOOD STREET LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 27 SEPTEMBER 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 April 2023 | 100 | - | 100
Comprehensive income for the period |  |  |
Profit for the period | - | 58,436 | 58,436
Other comprehensive income for the period | - | - | -
Total comprehensive income for the period | - | 58,436 | 58,436
Total transactions with owners | - | - | -
At 27 September 2024 | 100 | 58,436 | 58,536
| The notes on pages 6 to 8 form part of these financial statements.
Page 4
IPE WOOD STREET LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 MARCH 2023
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 April 2022 | 100 | 225,953 | 226,053
Comprehensive income for the year |  |  |
Loss for the year | - | (225,953) | (225,953)
Other comprehensive income for the year | - | - | -
Total comprehensive income for the year | - | (225,953) | (225,953)
Total transactions with owners | - | - | -
At 31 March 2023 | 100 | - | 100
| The notes on pages 6 to 8 form part of these financial statements.
Page 5
IPE WOOD STREET LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 27 SEPTEMBER 2024
1. | General information
The company is a members limited liability company incorporated in the United Kingdom. The registered address of the company is: 22 Gilbert Street London W1K 5HD The company's principal activity is that of property development. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
| 2.3 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.4 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.5 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 6
IPE WOOD STREET LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 27 SEPTEMBER 2024
3. | Employees
| The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).
4. | Stocks
|  |  |  |  | 27 September | 31 March
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Work in progress (goods to be sold) | 398,258 | 930,000
|  | 398,258 | 930,000
5. | Debtors
|  |  |  |  | 27 September | 31 March
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 30,000 | 7,500
| Other debtors | 258,902 | 313,668
|  | 288,902 | 321,168
Page 7
IPE WOOD STREET LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 27 SEPTEMBER 2024
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 27 September | 31 March
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 232,290 | 758,210
| Trade creditors | 2,970 | 39,875
| Amounts owed to other participating interests | 144,919 | -
| Other creditors | 248,445 | 452,983
|  | 628,624 | 1,251,068
| The following liabilities were secured:
|  |  |  |  | 27 September | 31 March
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loan | 232,290 | 758,210
|  | 232,290 | 758,210
| Details of security provided:
Secured bank loans £199,064 (2023: £718,559) at the end of this reporting period.
7. | Related party transactions
| As at the year end the company owes to IPE Group (Holdings) Ltd for £238,389 (2023:£54,538) the ultimate parent compny up until 15/09/2024. As of the reporting period, Mr. Mohammed Adnan Imam is the controlling party of the company by virtue of his shareholding.
|  | 27 September | 31 March
|  | 2024 | 2023
|  | £ | £
| IPE Group (Holdings) Ltd | - | -
|  | - | -
8. | Controlling party
The ultinamate controling party is Mohammed Adnan Imam by virtue of his shareholding. Page 8
IPE WOOD STREET LIMITED
Page 9