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Registered number: 12086536 IPE ARCADIA STREET LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 27 SEPTEMBER 2024
IPE ARCADIA STREET LIMITED COMPANY INFORMATION
Director | Joshua Daniel Reuben (appointed 5 July 2019)
Registered number | 12086536
Registered office | 2nd Floor
| 22 Gilbert Street
| London
| W1K 5HD
IPE ARCADIA STREET LIMITED CONTENTS
| Page
Balance sheet | 1 - 2
Statement of changes in equity | 3 - 4
Notes to the financial statements | 5 - 8
IPE ARCADIA STREET LIMITED REGISTERED NUMBER: 12086536 BALANCE SHEET AS AT 27 SEPTEMBER 2024
|  | 27 September |  | 31 March
|  | 2024 |  | 2023
Note |  | £ |  | £
Current assets |  |  |  |  |
Stocks | 4 | - |  | 3,697,000 |
Debtors: amounts falling due within one year | 5 | 407,497 |  | 1,082,759 |
Cash at bank and in hand | 6 | 1,653 |  | 1,907 |
|  | 409,150 |  | 4,781,666 |
Creditors: amounts falling due within one year | 7 | (754,004) |  | (4,801,484) |
Net current liabilities |  |  | (344,854) |  | (19,818)
Total assets less current liabilities |  |  | (344,854) |  | (19,818)
Net liabilities |  |  | (344,854) |  | (19,818)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | (344,954) |  | (19,918)
|  |  | (344,854) |  | (19,818)
Page 1
IPE ARCADIA STREET LIMITED REGISTERED NUMBER: 12086536 BALANCE SHEET (CONTINUED) AS AT 27 SEPTEMBER 2024 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 Company has opted not to file the profit and loss account in accordance with 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 by:
Joshua Daniel Reuben
Director
Date: 19 June 2025
The notes on pages 5 to 8 form part of these financial statements. Page 2
IPE ARCADIA 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 | (19,918) | (19,818)
Comprehensive income for the period |  |  |
Loss for the period | - | (325,036) | (325,036)
Other comprehensive income for the period | - | - | -
Total comprehensive income for the period | - | (325,036) | (325,036)
Total transactions with owners | - | - | -
At 27 September 2024 | 100 | (344,954) | (344,854)
| The notes on pages 5 to 8 form part of these financial statements.
Page 3
IPE ARCADIA 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 | (48,957) | (48,857)
Comprehensive income for the year |  |  |
Profit for the year | - | 29,039 | 29,039
Other comprehensive income for the year | - | - | -
Total comprehensive income for the year | - | 29,039 | 29,039
Total transactions with owners | - | - | -
At 31 March 2023 | 100 | (19,918) | (19,818)
| The notes on pages 5 to 8 form part of these financial statements.
Page 4
IPE ARCADIA 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: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 5
IPE ARCADIA STREET LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 27 SEPTEMBER 2024 2.Accounting policies (continued)
| 2.3 | Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
| 2.4 | 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.
| 2.5 | 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.
| 2.6 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.7 | 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.
3. | Employees
| The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).
Page 6
IPE ARCADIA STREET LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 27 SEPTEMBER 2024
4. | Stocks
|  |  |  |  | 27 September | 31 March
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Raw materials and consumables | 195 | -
| Work in progress (goods to be sold) | (195) | 3,697,000
|  | - | 3,697,000
5. | Debtors
|  |  |  |  | 27 September | 31 March
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 2,992 | 15,919
| Other debtors | 404,504 | 983,246
| VAT recoverable | 1 | 83,594
|  | 407,497 | 1,082,759
6. | Cash and cash equivalents
|  |  |  |  | 27 September | 31 March
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,653 | 1,907
|  | 1,653 | 1,907
Page 7
IPE ARCADIA STREET LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 27 SEPTEMBER 2024
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 27 September | 31 March
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 31,889 | 3,781,651
| Trade creditors | 182,761 | 467,626
| Other creditors | 539,354 | 552,207
|  | 754,004 | 4,801,484
| The following liabilities were secured:
|  |  |  |  | 27 September | 31 March
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Global Growth - Secured Loan | - | 3,740,448
|  | - | 3,740,448
| Details of security provided:
There was no secured bank loans as at reporting period (2023: £3,740,448) .
8. | Controlling party
The ultimate controlling party is Mohammed Adnan Imam by virtue of his shareholding as at reporting date.
Page 8