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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

 
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.

Principal activity

Other letting and operating of own or leased real estate

Director

The director who served during the period was:

Nadia Momin Imam (appointed 11 February 2022)

Page 1

 
IPE SOUTHERN ROAD PROPERTIES LTD
REGISTERED NUMBER: 13910134

BALANCE SHEET
AS AT 27 SEPTEMBER 2024

27 September
31 March
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
422,000
422,000

  
422,000
422,000

Current assets
  

Cash at bank and in hand
 5 
2,790
950

  
2,790
950

Creditors: amounts falling due within one year
 6 
(205,501)
(192,993)

Net current liabilities
  
 
 
(202,711)
 
 
(192,043)

Total assets less current liabilities
  
219,289
229,957

Creditors: amounts falling due after more than one year
 7 
(427,350)
(427,350)

  

Net liabilities
  
(208,061)
(197,393)


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
(147,120)
(147,120)

Profit and loss account
  
(61,041)
(50,373)

  
(208,061)
(197,393)


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
Page 2

 
IPE SOUTHERN ROAD PROPERTIES LTD
REGISTERED NUMBER: 13910134
    
BALANCE SHEET (CONTINUED)
AS AT 27 SEPTEMBER 2024

23 June 2025.




Nadia Momin Imam
Director

The notes on pages 6 to 11 form part of these financial statements.

Page 3

 
IPE SOUTHERN ROAD PROPERTIES LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 27 SEPTEMBER 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
100
(147,120)
(50,373)
(197,393)


Comprehensive income for the period

Loss for the period

-
-
(10,668)
(10,668)


Other comprehensive income for the period
-
-
-
-


Total comprehensive income for the period
-
-
(10,668)
(10,668)


Total transactions with owners
-
-
-
-


At 27 September 2024
100
(147,120)
(61,041)
(208,061)


The notes on pages 6 to 11 form part of these financial statements.

Page 4

 
IPE SOUTHERN ROAD PROPERTIES LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
100
(147,120)
147,120
100


Comprehensive income for the year

Loss for the year

-
-
(197,493)
(197,493)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(197,493)
(197,493)


Total transactions with owners
-
-
-
-


At 31 March 2023
100
(147,120)
(50,373)
(197,393)


The notes on pages 6 to 11 form part of these financial statements.

Page 5

 
IPE SOUTHERN ROAD PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

1.


General information

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

 
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.

The following principal accounting policies have been applied:

Page 6

 
IPE SOUTHERN ROAD PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

2.Accounting policies (continued)

 
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.

 
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.

 
2.5

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.

Page 7

 
IPE SOUTHERN ROAD PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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:

Long-term leasehold 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.

 
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

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.

Page 8

 
IPE SOUTHERN ROAD PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

3.


Employees

The average monthly number of employees, including the director, during the period was as follows:


     27 September
        31 March
        2024
        2023
            No.
            No.







Average number of employees
-
1


4.


Tangible fixed assets







Long-term leasehold property

£



Cost or valuation


At 1 April 2023
422,000



At 27 September 2024

422,000






Net book value



At 27 September 2024
422,000



At 31 March 2023
422,000




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


27 September
31 March
2024
2023
£
£

Long leasehold
422,000
422,000

422,000
422,000


Page 9

 
IPE SOUTHERN ROAD PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

5.


Cash and cash equivalents

27 September
31 March
2024
2023
£
£

Cash at bank and in hand
2,790
950

2,790
950



6.


Creditors: Amounts falling due within one year

27 September
31 March
2024
2023
£
£

Amounts owed to group undertakings
205,501
192,993

205,501
192,993



7.


Creditors: Amounts falling due after more than one year

27 September
31 March
2024
2023
£
£

Bank loans
427,350
427,350

427,350
427,350


The following liabilities were secured:

27 September
31 March
2024
2023
£
£



Bank Loan
427,350
427,350

427,350
427,350

Details of security provided:

Bank loans of £427,350 (2023: £427,350) were secured on the assets of the company

Page 10

 
IPE SOUTHERN ROAD PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

8.


Loans


Analysis of the maturity of loans is given below:


27 September
31 March
2024
2023
£
£


Amounts falling due 1-2 years

Bank loans
427,350
427,350


427,350
427,350



427,350
427,350



9.


Related party transactions

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.


10.


Controlling party

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.

Page 11