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Registered number: 14171385
Ivy Row Properties Ltd
Financial Statements
For The Year Ended 30 June 2024
KP Simpson South Shields Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14171385
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 100,000 100,000
100,000 100,000
CURRENT ASSETS
Debtors 5 1,189 3,198
Cash at bank and in hand 39 258
1,228 3,456
Creditors: Amounts Falling Due Within One Year 6 (3,509 ) (660 )
NET CURRENT ASSETS (LIABILITIES) (2,281 ) 2,796
TOTAL ASSETS LESS CURRENT LIABILITIES 97,719 102,796
Creditors: Amounts Falling Due After More Than One Year 7 (103,630 ) (103,630 )
NET LIABILITIES (5,911 ) (834 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (5,913 ) (836 )
SHAREHOLDERS' FUNDS (5,911) (834)
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jordan Simcock
Director
03/06/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Ivy Row Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14171385 . The registered office is 3 Martyn's Avenue, Neath, West Glamorgan, SA10 9DP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold N/A
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 July 2023 100,000
As at 30 June 2024 100,000
Net Book Value
As at 30 June 2024 100,000
As at 1 July 2023 100,000
5. Debtors
30 June 2024 30 June 2023
£ £
Due within one year
Other debtors 1,189 3,198
Page 2
Page 3
6. Creditors: Amounts Falling Due Within One Year
30 June 2024 30 June 2023
£ £
Amounts owed to group undertakings 2,189 -
Other creditors 1,320 660
3,509 660
7. Creditors: Amounts Falling Due After More Than One Year
30 June 2024 30 June 2023
£ £
Bank loan 103,630 103,630
8. Share Capital
30 June 2024 30 June 2023
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mrs Sharnelle Simcock (1,599 ) (282 ) 1,287 - (594 )
Mr Jordan Simcock (1,599 ) (282 ) 1,287 - (594 )
The above loan is unsecured, interest free and repayable on demand.
Page 3