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Registered number: 12357435









IPE CLIFFORD ROAD PROPERTIES LIMITED







UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 27 SEPTEMBER 2024

 
IPE CLIFFORD ROAD PROPERTIES LIMITED
 
 
COMPANY INFORMATION


Directors
Nadia Momin Imam 
Mohammed Adnan Imam (appointed 10 December 2019, resigned 24 April 2025)




Registered number
12357435



Registered office
2nd Floor
22 Gilbert Street

London

W1K 5HD





 
IPE CLIFFORD ROAD PROPERTIES LIMITED
 

CONTENTS



Page
Director's report
1
Balance sheet
2
Statement of changes in equity
3 - 4
Notes to the financial statements
5 - 10


 
IPE CLIFFORD ROAD 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

Other letting and operating of own or leased real estate

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.
 





Nadia Momin Imam
Director

Date: 27 June 2025

Page 1

 
IPE CLIFFORD ROAD PROPERTIES LIMITED
REGISTERED NUMBER: 12357435

BALANCE SHEET
AS AT 27 SEPTEMBER 2024

27 September
27 June
2024
2023
£
£


Fixed assets
863,000
863,000

Current assets
10,005
2,750

Creditors: amounts falling due within one year
(753,515)
(744,381)

Net current liabilities
 
 
(743,510)
 
 
(741,631)

Total assets less current liabilities
119,490
121,369

Provisions for liabilities

Deferred taxation
(29,579)
(29,579)

 
 
(29,579)
 
 
(29,579)

Net assets
89,911
91,790



Capital and reserves
89,911
91,790


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 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 by: 




Nadia Momin Imam
Director
Date: 27 June 2025

The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
IPE CLIFFORD ROAD PROPERTIES LIMITED
 

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 28 June 2023
100
101,380
(9,690)
91,790


Comprehensive income for the period

Loss for the period

-
-
(1,879)
(1,879)


Other comprehensive income for the period
-
-
-
-


Total comprehensive income for the period
-
-
(1,879)
(1,879)


Total transactions with owners
-
-
-
-


At 27 September 2024
100
101,380
(11,569)
89,911


The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
IPE CLIFFORD ROAD PROPERTIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 27 JUNE 2023


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

£
£
£
£

At 1 June 2022
100
-
(11,757)
(11,657)


Comprehensive income for the year

Profit for the year

-
-
28,343
28,343

Surplus on revaluation of freehold property
-
75,104
-
75,104

Deficit on revaluation of leasehold property
-
-
(26,276)
(26,276)


Other comprehensive income for the year
-
75,104
(26,276)
48,828


Total comprehensive income for the year
-
75,104
2,067
77,171


Contributions by and distributions to owners

Transfer to/from profit and loss account
-
26,276
-
26,276


Total transactions with owners
-
26,276
-
26,276


At 27 June 2023
100
101,380
(9,690)
91,790


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
IPE CLIFFORD ROAD 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 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

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 5

 
IPE CLIFFORD ROAD 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 6

 
IPE CLIFFORD ROAD 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).


4.


Investment property





Long term leasehold investment property

£



Valuation


Additions at cost
765,000


Surplus on revaluation
98,000



At 27 September 2024
863,000

The 2024 valuations were made by the Director of the company, on an open market value for existing use basis.



At 27 September 2024




Page 7

 
IPE CLIFFORD ROAD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

5.


Debtors

27 September
27 June
2024
2023
£
£


Trade debtors
8,000
2,750

Other debtors
1,000
-

9,000
2,750



6.


Cash and cash equivalents

27 September
27 June
2024
2023
£
£

Cash at bank and in hand
1,005
-

1,005
-



7.


Creditors: Amounts falling due within one year

27 September
27 June
2024
2023
£
£

Bank loans
472,538
479,616

Trade creditors
2,508
2,096

Amounts owed to group undertakings
278,469
262,669

753,515
744,381


Page 8

 
IPE CLIFFORD ROAD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

8.


Creditors: Amounts falling due after more than one year




The following liabilities were secured:

27 September
27 June
2024
2023
£
£



Bank loan
472,538
479,615

472,538
479,615

Details of security provided:

Bank loan of  £472,538 (2023: £479,615) was securred on the assets of the company.


9.


Deferred taxation






2024


£






Utilised in year
(29,579)



At end of year
(29,579)

The provision for deferred taxation is made up as follows:

27 September
27 June
2024
2023
£
£


Accelerated capital allowances
(29,579)
(29,579)

(29,579)
(29,579)
Difference to be cleared

(1)

Page 9

 
IPE CLIFFORD ROAD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 SEPTEMBER 2024

10.


Related party transactions

As at the reporting date, the ultimate parent company is NMI Property Holdings Limited. As of 25/09/2025, the ultimate parent company was IPE Group (Holdings) Ltd. The company owes £278,471 (2023: £262,672) as of 25/09/2024


27 September
27 June
2024
2023
£
£

IPE Group (Holdings) Ltd
278,471
262,672
278,471
262,672


11.


Controlling party

The ultimate controlling interst is the parent company NMI Property Holdings Limited. The ultimate
controlling party is Nadia Momin Imam by virtue of her shareholding in the parent company NMI Property Holdings Limited.

Page 10