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Company registration number: 15263845
Ixana Property Limited
Unaudited filleted financial statements
31 March 2025
Ixana Property Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Ixana Property Limited
Directors and other information
Directors Mr T Hockley
Mrs C A Hockley
Company number 15263845
Registered office 12 Tredgold Garth
Bramhope
Leeds
LS16 9BP
Accountants Censis
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
Ixana Property Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Ixana Property Limited
Period ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ixana Property Limited for the period ended 31 March 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Ixana Property Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Ixana Property Limited and state those matters that we have agreed to state to the board of directors of Ixana Property Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ixana Property Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Ixana Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ixana Property Limited. You consider that Ixana Property Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Ixana Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Censis
Chartered Accountants
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
18 July 2025
Ixana Property Limited
Statement of financial position
31 March 2025
31/03/25
Note £ £
Fixed assets
Tangible assets 4 462,488
_______
462,488
Current assets
Debtors 5 310
Cash at bank and in hand 19,455
_______
19,765
Creditors: amounts falling due
within one year 6 ( 177,867)
_______
Net current liabilities ( 158,102)
_______
Total assets less current liabilities 304,386
Creditors: amounts falling due
after more than one year 7 ( 276,451)
Provisions for liabilities 8 ( 5,289)
_______
Net assets 22,646
_______
Capital and reserves
Called up share capital 10 100
Profit and loss account 22,546
_______
Shareholders funds 22,646
_______
For the period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 July 2025 , and are signed on behalf of the board by:
Mr T Hockley
Director
Company registration number: 15263845
Ixana Property Limited
Notes to the financial statements
Period ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 Tredgold Garth, Bramhope, Leeds, LS16 9BP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost or valuation
At 6 November 2023 - - -
Additions 411,503 12,675 424,178
Revaluation 40,000 - 40,000
_______ _______ _______
At 31 March 2025 451,503 12,675 464,178
_______ _______ _______
Depreciation
At 6 November 2023 - - -
Charge for the year - 1,690 1,690
_______ _______ _______
At 31 March 2025 - 1,690 1,690
_______ _______ _______
Carrying amount
At 31 March 2025 451,503 10,985 462,488
_______ _______ _______
5. Debtors
31/03/25
£
Other debtors 310
_______
6. Creditors: amounts falling due within one year
31/03/25
£
Other creditors 177,867
_______
7. Creditors: amounts falling due after more than one year
31/03/25
£
Bank loans and overdrafts 276,451
_______
8. Provisions
Deferred tax (note 9) Total
£ £
At 6 November 2023 - -
Additions 5,289 5,289
_______ _______
At 31 March 2025 5,289 5,289
_______ _______
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
31/03/25
£
Included in provisions (note 8) 5,289
_______
The deferred tax account consists of the tax effect of timing differences in respect of:
31/03/25
£
Fair value adjustment of investment property -
_______
10. Called up share capital
Issued, called up and fully paid
31/03/25
No £
Ordinary Shares shares of £ 1.00 each 100 100
_______ _______
11. Controlling party
Throughout the year, the company was under the control of the directors.