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Registered number: 12132624









IPE TANNERS STREET PROPERTIES LIMITED







UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 27 SEPTEMBER 2024

 
IPE TANNERS STREET PROPERTIES LIMITED
 
 
COMPANY INFORMATION


Director
Mohammed Adnan Imam 




Registered number
12132624



Registered office
2nd Floor
22 Gilbert Street

London

W1K 5HD





 
IPE TANNERS STREET PROPERTIES LIMITED
 

CONTENTS



Page
Director's report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9


 
IPE TANNERS STREET PROPERTIES 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

Buying and selling of own real estate.

Director

The director who served during the period was:

Mohammed Adnan Imam (appointed 31 July 2019)

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





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

Date: 23 June 2025

Page 1

 
IPE TANNERS STREET PROPERTIES LIMITED
REGISTERED NUMBER: 12132624

BALANCE SHEET
AS AT 27 SEPTEMBER 2024

27 September
31 March
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
598,000
598,000

  
598,000
598,000

Current assets
  

Debtors: amounts falling due after more than one year
 5 
20,759
-

Debtors: amounts falling due within one year
 5 
2,709
24,898

Cash at bank and in hand
 6 
91
100

  
23,559
24,998

Creditors: amounts falling due within one year
 7 
(643,269)
(637,929)

Net current liabilities
  
 
 
(619,710)
 
 
(612,931)

Total assets less current liabilities
  
(21,710)
(14,931)

  

Net liabilities
  
(21,710)
(14,931)


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
(34,362)
(65,046)

Profit and loss account
  
12,552
50,015

  
(21,710)
(14,931)


Page 2

 
IPE TANNERS STREET PROPERTIES LIMITED
REGISTERED NUMBER: 12132624
    
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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: 

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

Date: 23 June 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
IPE TANNERS STREET PROPERTIES 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 rental property investment.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
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

Finance costs

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.

 
2.4

Borrowing costs

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

Page 4

 
IPE TANNERS STREET PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Revaluation of tangible fixed assets

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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 
IPE TANNERS STREET PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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).

The average monthly number of employees, including directors, during the period was 0 (2023 - 0).

Page 6

 
IPE TANNERS STREET PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

4.


Investment property





Long term leasehold investment property

£



Valuation


At 1 April 2023
598,000



At 27 September 2024
598,000

The 2024 valuations were made by the Director through available websites, on an open market value for existing use basis.



At 27 September 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:




5.


Debtors

27 September
31 March
2024
2023
£
£

Due after more than one year

Other debtors
20,759
-

20,759
-


27 September
31 March
2024
2023
£
£

Due within one year

Amounts owed by group undertakings
-
22,189

Deferred taxation
2,709
2,709

2,709
24,898


Page 7

 
IPE TANNERS STREET PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

6.


Cash and cash equivalents

27 September
31 March
2024
2023
£
£

Cash at bank and in hand
91
100

91
100



7.


Creditors: Amounts falling due within one year

27 September
31 March
2024
2023
£
£

Bank loans
489,958
496,168

Amounts owed to group undertakings
153,311
141,761

643,269
637,929


The following liabilities were secured:

27 September
31 March
2024
2023
£
£



Bank loan
489,958
496,168

489,958
496,168

Details of security provided:

Bank loan of £456,965 (2023:498,168) was secured on the assets of the company.


8.


Related party transactions

IPE Group (Holdings) Limited was the ultimate parent company up until 15/09/207.The company owes
£3,105 to IPE Group (Holdings) Ltd

Page 8

 
IPE TANNERS STREET PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

9.


Controlling party

The ultimate controlling party is Mr Mohammed Adnan Imam by virtue of his shareholding. It was before
IPE Group (Holdings) Limited has the ultimate controlling interst as a parent company up until 15/09/2024
where Mr. Imam was the controlling party by virtue of his sharholding of IPE Group (Holdings) Limited

 
Page 9