Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-282024-09-28falsetruefalsetrue2023-03-3100The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07852490 2023-03-31 2024-09-28 07852490 2022-03-31 2023-03-30 07852490 2024-09-28 07852490 2023-03-30 07852490 2022-03-31 07852490 c:Director1 2023-03-31 2024-09-28 07852490 c:Director1 2024-09-28 07852490 c:RegisteredOffice 2023-03-31 2024-09-28 07852490 d:Buildings 2023-03-31 2024-09-28 07852490 d:Buildings 2024-09-28 07852490 d:Buildings 2023-03-30 07852490 d:LandBuildings 2024-09-28 07852490 d:LandBuildings 2023-03-30 07852490 d:CurrentFinancialInstruments 2024-09-28 07852490 d:CurrentFinancialInstruments 2023-03-30 07852490 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-28 07852490 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-30 07852490 d:ShareCapital 2023-03-31 2024-09-28 07852490 d:ShareCapital 2024-09-28 07852490 d:ShareCapital 2022-03-31 2023-03-30 07852490 d:ShareCapital 2023-03-30 07852490 d:ShareCapital 2022-03-31 07852490 d:RetainedEarningsAccumulatedLosses 2023-03-31 2024-09-28 07852490 d:RetainedEarningsAccumulatedLosses 2024-09-28 07852490 d:RetainedEarningsAccumulatedLosses 2022-03-31 2023-03-30 07852490 d:RetainedEarningsAccumulatedLosses 2023-03-30 07852490 d:RetainedEarningsAccumulatedLosses 2022-03-31 07852490 c:OrdinaryShareClass1 2023-03-31 2024-09-28 07852490 c:OrdinaryShareClass1 2024-09-28 07852490 c:OrdinaryShareClass1 2023-03-30 07852490 c:FRS102 2023-03-31 2024-09-28 07852490 c:AuditExempt-NoAccountantsReport 2023-03-31 2024-09-28 07852490 c:FullAccounts 2023-03-31 2024-09-28 07852490 c:PrivateLimitedCompanyLtd 2023-03-31 2024-09-28 07852490 e:PoundSterling 2023-03-31 2024-09-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07852490









AI VENTURES LTD







UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 SEPTEMBER 2024

 
AI VENTURES LTD
 
 
COMPANY INFORMATION


Director
Mohammed Adnan Imam (appointed 1 January 2012)




Registered number
07852490



Registered office
2nd Floor
22 Gilbert Street

London

W1K 5HD





 
AI VENTURES LTD
 

CONTENTS



Page
Director's report
1
Statement of comprehensive income
2
Balance sheet
3 - 4
Statement of changes in equity
5 - 6
Notes to the financial statements
7 - 12


 
AI VENTURES LTD
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 28 SEPTEMBER 2024

The director presents his report and the financial statements for the year ended 28 September 2024.

Page 1

 
AI VENTURES LTD
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 28 SEPTEMBER 2024

28 September
30 March
2024
2023
Note
£
£

  

Cost of sales
  
-
(150)

Gross profit/(loss)
  
-
(150)

Administrative expenses
  
(23,910)
(1,043)

Operating loss
  
(23,910)
(1,193)

Interest payable and similar expenses
  
(25,031)
-

Loss before tax
  
(48,941)
(1,193)

Tax on loss
  
(11,553)
-

Loss for the financial year
  
(60,494)
(1,193)

Other comprehensive income for the year
  

  

Total comprehensive income for the year
  
(60,494)
(1,193)

The notes on pages 7 to 12 form part of these financial statements.

Page 2

 
AI VENTURES LTD
REGISTERED NUMBER: 07852490

BALANCE SHEET
AS AT 28 SEPTEMBER 2024

28 September
30 March
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
628,085
546,302

  
628,085
546,302

Current assets
  

Stocks
 5 
980
37,124

Debtors: amounts falling due within one year
 6 
775
475

Cash at bank and in hand
 7 
50
466

  
1,805
38,065

Creditors: amounts falling due within one year
 8 
(646,862)
(540,845)

Net current liabilities
  
 
 
(645,057)
 
 
(502,780)

Total assets less current liabilities
  
(16,972)
43,522

  

Net (liabilities)/assets
  
(16,972)
43,522


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
(16,973)
43,521

  
(16,972)
43,522


Page 3

 
AI VENTURES LTD
REGISTERED NUMBER: 07852490
    
BALANCE SHEET (CONTINUED)
AS AT 28 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 year 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 by: 




................................................
Mohammed Adnan Imam
Director

Date: 23 June 2025

The notes on pages 7 to 12 form part of these financial statements.

Page 4

 
AI VENTURES LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 SEPTEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 31 March 2023
1
43,521
43,522


Comprehensive income for the year

Loss for the year

-
(60,494)
(60,494)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(60,494)
(60,494)


Total transactions with owners
-
-
-


At 28 September 2024
1
(16,973)
(16,972)


The notes on pages 7 to 12 form part of these financial statements.

Page 5

 
AI VENTURES LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 31 March 2022
1
44,714
44,715


Comprehensive income for the year

Loss for the year

-
(1,193)
(1,193)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(1,193)
(1,193)


Total transactions with owners
-
-
-


At 30 March 2023
1
43,521
43,522


The notes on pages 7 to 12 form part of these financial statements.

Page 6

 
AI VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 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

Finance costs

Finance costs are charged to the Profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 7

 
AI VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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 8

 
AI VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2024

4.


Tangible fixed assets







Freehold property

£



Cost or valuation


At 31 March 2023
546,302


Additions
81,783



At 28 September 2024

628,085






Net book value



At 28 September 2024
628,085



At 30 March 2023
546,302




The net book value of land and buildings may be further analysed as follows:


28 September
30 March
2024
2023
£
£

Freehold
628,085
546,302

628,085
546,302



5.


Stocks

28 September
30 March
2024
2023
£
£

Work in progress (goods to be sold)
980
37,124

980
37,124



6.


Debtors

28 September
30 March
Page 9

 
AI VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2024

6.Debtors (continued)

2024
2023
£
£


Other debtors
775
475

775
475



7.


Cash and cash equivalents

28 September
30 March
2024
2023
£
£

Cash at bank and in hand
50
466

50
466


Page 10

 
AI VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

28 September
30 March
2024
2023
£
£

Bank loans
171,078
185,431

Trade creditors
-
3,032

Amounts owed to group undertakings
475,784
250,473

Corporation tax
-
101,909

646,862
540,845


The following liabilities were secured:

28 September
30 March
2024
2023
£
£



Bank loans
185,431
148,820

185,431
148,820

Details of security provided:

Bank loans of £185,431 (2023: £148,820) were secured on the assets of the company.


9.


Share capital

28 September
30 March
2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



10.


Related party transactions

As at the year end the ultimate parent company is NMI Property Holdings Limited. It was before IPE Group (Holdings) Limited the ultimate parent company up until 25/09/2024.The company owes to IPE Group (Holding) Ltd £475,784 (2023:£250,473).

Page 11

 
AI VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2024

11.


Controlling party

The ultimate controlling party is Nadia Momin Imam by virtue of her shareholding of its parent company NMI Property Holdings Limited. IPE Group (Holdings) Limited was the controlling party as a parent compnay until 25/09/2024.

 
Page 12