REGISTERED NUMBER: 11159663 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

INVEREY PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

T M Wormington

REGISTERED OFFICE:

Queen Annes

Church Road

Goudhurst

Cranbrook

Kent

TN17 1BN

REGISTERED NUMBER:

11159663 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

FIXED ASSETS

Investments

4

10,296

10,296

Investment property

5

2,010,000

2,317,148

2,020,296

2,327,444

CURRENT ASSETS

Debtors

6

1,400

878

Cash at bank

1,582

3,057

2,982

3,935

CREDITORS

Amounts falling due within one year

7

693,981

735,741

NET CURRENT LIABILITIES

(690,999

)

(731,806

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,329,297

1,595,638

CREDITORS

Amounts falling due after more than one year

8

(1,261,818

)

(1,449,558

)

PROVISIONS FOR LIABILITIES

(34,248

)

(45,265

)

NET ASSETS

33,231

100,815

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

33,131

100,715

33,231

100,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2025 and were signed by:

T M Wormington - Director

1.	STATUTORY INFORMATION

Inverey Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The director has made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover

Turnover represents rents receivable from tenants letting out the investment properties. These rents are recognised as income as and when they fall due.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

10,296

NET BOOK VALUE

At 31 March 2025

10,296

At 31 March 2024

10,296

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,317,148

Disposals

(290,000

)

Impairments

(17,148

)

At 31 March 2025

2,010,000

NET BOOK VALUE

At 31 March 2025

2,010,000

At 31 March 2024

2,317,148

Fair value at 31 March 2025 is represented by:

£

Valuation in 2019

9,199

Valuation in 2020

130,000

Valuation in 2022

72,837

Valuation in 2024

(57,897

)

Valuation in 2025

(17,148

)

Cost

1,873,009

2,010,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

1,873,009

2,136,087

Investment property was valued on an open market basis on 31 March 2025 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

1,400

878

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

5,008

4,916

Trade creditors

10,927

7,599

Other creditors

676,247

721,426

Accrued expenses

1,799

1,800

693,981

735,741

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 1-2 years

5,008

4,916

Bank loans - 2-5 years

15,024

14,748

Bank loans more 5 yr by instal

1,241,786

1,429,894

1,261,818

1,449,558

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,241,786

1,429,894

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

1,236,847

1,418,822

Paragon Bank PLC hold a charge dated 4 February 2019 over the company's investment property being 104 Marina; Basement Flat, St Leonards on Sea, East Sussex, TN38 0BP.

Paragon Bank PLC hold a charge dated 8 February 2019 over the company's investment property being 55 Pevensey Road; Basement Flat, St Leonards on Sea, East Sussex, TN38 0LE.

Fleet Mortgages Limited hold a charge dated 12 September 2022 over the company's investment property being 10A Charles Road; Lower Ground Floor, St Leonards on Sea, East Sussex, TN38 0QA.

Fleet Mortgages Limited hold a charge dated 13 September 2022 over the company's investment property being 10 Charles Road; Upper Maisonette, St Leonards on Sea, East Sussex, TN38 0QA.

Fleet Mortgages Limited hold a charge dated 13 September 2022 over the company's investment property being 9 Charles Road; Fourth Floor, St Leonards on Sea, East Sussex, TN38 0QA.

Fleet Mortgages Limited hold a charge dated 13 September 2022 over the company's investment property being 7 Ashley Court, 1-3 Terrace Road, St Leonards on Sea, East Sussex, TN37 6BN.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Inverey Properties Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the 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 within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the director of Inverey Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Inverey Properties Limited and state those matters that we have agreed to state to the director of Inverey Properties Limited in this report in accordance with icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Inverey Properties Limited and its director for our work or for this report.

It is your duty to ensure that Inverey Properties 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 loss of Inverey Properties Limited. You consider that Inverey Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Inverey Properties 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.

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

4 September 2025