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Registered number: 13910134
IPE SOUTHERN ROAD PROPERTIES LTD
UNAUDITED
DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 27 SEPTEMBER 2024
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IPE SOUTHERN ROAD PROPERTIES LTD
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 27 SEPTEMBER 2024
The director presents her report and the financial statements for the period ended 27 September 2024.
Other letting and operating of own or leased real estate
The director who served during the period was:
Nadia Momin Imam (appointed 11 February 2022)
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IPE SOUTHERN ROAD PROPERTIES LTD
REGISTERED NUMBER: 13910134
BALANCE SHEET
AS AT 27 SEPTEMBER 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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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 her 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 on
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IPE SOUTHERN ROAD PROPERTIES LTD
REGISTERED NUMBER: 13910134
BALANCE SHEET (CONTINUED)
AS AT 27 SEPTEMBER 2024
23 June 2025.
The notes on pages 6 to 11 form part of these financial statements.
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IPE SOUTHERN ROAD PROPERTIES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 27 SEPTEMBER 2024
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Comprehensive income for the period
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Other comprehensive income for the period
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Total comprehensive income for the period
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Total transactions with owners
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The notes on pages 6 to 11 form part of these financial statements.
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IPE SOUTHERN ROAD PROPERTIES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 6 to 11 form part of these financial statements.
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IPE SOUTHERN ROAD PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024
The company is a limited company incorporated in the United Kingdom
The registered address of company is:
2 Floor
22 Gilbert Street
London
W1S 1RS
The Company's principal activity countined to be of property Investment.
2.Accounting policies
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Basis of preparation of financial statements
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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.
The following principal accounting policies have been applied:
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IPE SOUTHERN ROAD PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024
2.Accounting policies (continued)
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.
Finance costs are charged to profit or loss 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.
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
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.
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IPE SOUTHERN ROAD PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, SELECT OR ENTER METHOD.
Depreciation is provided on the following basis:
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Long-term leasehold property
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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.
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Revaluation of tangible fixed assets
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Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
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Cash and cash equivalents
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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.
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.
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IPE SOUTHERN ROAD PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024
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The average monthly number of employees, including the director, during the period was as follows:
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Average number of employees
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Long-term leasehold property
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The net book value of land and buildings may be further analysed as follows:
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IPE SOUTHERN ROAD PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Creditors: Amounts falling due after more than one year
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The following liabilities were secured:
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Details of security provided:
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Bank loans of £427,350 (2023: £427,350) were secured on the assets of the company
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IPE SOUTHERN ROAD PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024
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Analysis of the maturity of loans is given below:
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Amounts falling due 1-2 years
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Related party transactions
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As at the reporting date, the ultimate parent company, NMI Property Holdings Limited. The ultimate parent company was IPE Group (Holdings) Limited as of 25/09/2024 and the company owes £205,500 (2023: £193,093) to IPE Group (Holdings) Limited.
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The ultimate controlling party is Nadia Momin Imam by virtue of her shareholding of the parent company NMI Property Holdings Limited. It was before IPE Group (Holdings) Limited has the ultimate controlling interst as a parent company up until 15/09/2024 where Mr. Mohammed Adnan Imam was the controlling party by virtue of his sharholding of IPE Group (Holdings) Limited.
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