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Registration number: 11118481

Inproperty Media Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 April 2024 to 31 December 2024

 

Inproperty Media Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Inproperty Media Ltd

(Registration number: 11118481)
Balance Sheet as at 31 December 2024

Note

31 December
2024
£

31 March
2024
£

Fixed assets

 

Investment property

4

4,568,000

4,568,000

Investments

5

251,252

251,252

 

4,819,252

4,819,252

Current assets

 

Debtors

6

101,431

100,450

Cash at bank and in hand

 

89,293

97,510

 

190,724

197,960

Creditors: Amounts falling due within one year

7

(13,604)

(598,131)

Net current assets/(liabilities)

 

177,120

(400,171)

Total assets less current liabilities

 

4,996,372

4,419,081

Creditors: Amounts falling due after more than one year

7

(2,463,570)

(1,815,589)

Provisions for liabilities

(40,000)

(40,000)

Net assets

 

2,492,802

2,563,492

Capital and reserves

 

Called up share capital

8

103

103

Share premium reserve

2,114,151

2,114,151

Other reserves

176,250

176,250

Profit and loss account

202,298

272,988

Shareholders' funds

 

2,492,802

2,563,492

 

Inproperty Media Ltd

(Registration number: 11118481)
Balance Sheet as at 31 December 2024

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 August 2025
 



 

Mr Alex John Caravello
Director

 

Inproperty Media Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1st Floor Woburn House
84 St Benedicts Street
Norwich
Norfolk
NR2 4AB

2

Accounting policies

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern
The financial statements have been prepared on a going concern basis.

Revenue recognition
Turnover comprises rental income received or receivable in the ordinary course of the company's activities.

The company recognises revenue when:

The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Inproperty Media Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Investments in shares in subsidiaries are measured at cost less impairment.

Cash
Cash comprises cash on hand and all deposits.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Inproperty Media Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

3

Staff numbers

The average number of persons employed by the company during the period was 0 (2024 - 0).

4

Investment property

31 December
2024
£

31 March
2024
£

At 1 April

4,568,000

-

Additions

-

4,408,000

Fair value adjustments

-

160,000

At 31 December

4,568,000

4,568,000

The director has reviewed the market value of the properties using current market data for similar properties in the same area and considers that there is no significant change at the balance sheet date.

5

Investments

31 December
2024
£

31 March
2024
£

Investments in subsidiaries

2

2

Unlisted investments

251,250

251,250

251,252

251,252

Subsidiaries

£

Cost

At 1 April 2024

2

Carrying amount

At 31 December 2024

2

At 31 March 2024

2

Unlisted investments

£

Cost

At 1 April 2024

251,250

Carrying amount

At 31 December 2024

251,250

At 31 March 2024

251,250

 

Inproperty Media Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

6

Debtors

Note

31 December
2024
£

31 March
2024
£

Owed by group undertakings

9

-

92,000

Loans to related parties

9

100,000

-

Prepayments

 

1,431

8,450

 

101,431

100,450

7

Creditors

Creditors: amounts falling due within one year

31 December
2024
£

31 March
2024
£

Trade creditors

-

3,042

Amounts owed to related parties

-

580,000

Taxation and social security

8,561

7,464

Other loans

234

2,816

Accruals

4,809

4,809

13,604

598,131

Creditors: amounts falling due after more than one year

31 December
2024
£

31 March
2024
£

Bank loans

2,463,570

1,815,589

2,463,570

1,815,589

Creditors include bank loans which are secured against the properties they relate to in the sum of £2,463,570 (31/03/24 - £1,815,589). Of this amount £2,463,570 (31/03/24 - £1,815,589) is repayable, other than by instalments, after more than five years.

 

Inproperty Media Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

8

Share capital

Allotted, called up and fully paid shares

 

31 December
2024

31 March
2024

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

Ordinary A of £0.01 each

5,000

50.00

5,000

50.00

Ordinary B of £0.01 each

5,000

50.00

5,000

50.00

Ordinary C of £0.01 each

10

0.10

10

0.10

Ordinary D of £0.01 each

10

0.10

10

0.10

Ordinary E of £0.01 each

10

0.10

10

0.10

Ordinary F of £0.01 each

10

0.10

10

0.10

Ordinary G of £0.01 each

10

0.10

10

0.10

Ordinary H of £0.01 each

10

0.10

10

0.10

Ordinary I of £0.01 each

10

0.10

10

0.10

Ordinary J of £0.01 each

10

0.10

10

0.10

Ordinary K of £0.01 each

10

0.10

10

0.10

Ordinary L of £0.01 each

10

0.10

10

0.10

Ordinary M of £0.01 each

10

0.10

10

0.10

Ordinary N of £0.01 each

10

0.10

10

0.10

Ordinary O of £0.01 each

10

0.10

10

0.10

Ordinary P of £0.01 each

10

0.10

10

0.10

Ordinary Q of £0.01 each

10

0.10

10

0.10

 

10,151

102.50

10,151

102.50

9

Related party transactions

Transactions with subsidiaries

The company purchased an investment property portfolio and letting agency business from the shareholders on 1 April 2023 at market value via a sale and purchase agreement.

On the same day, the letting agency business was immediately hived down to the company's subsidiary. At 31 December 2024, the balance owed to the company from the subsidiary in the sum of £92,000 was written off.

Other related party transactions

At the balance sheet date, included in debtors, is an amount of £100,000 (31/03/2024 - creditor £580,000) owed by a company in which the director is also a director and shareholder.