Registration number: 06276610

International Property Specialists Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 6

International Property Specialists Limited

(Registration number: 06276610)
Balance Sheet as at 31 December 2024

	Note	2024 £	2024 £
Fixed assets
Tangible assets	5	61,210	-
Current assets
Debtors	6	713,037	714,375
Cash at bank and in hand		6,278,125	4,883,202
		6,991,162	5,597,577
Creditors: Amounts falling due within one year	7	(4,580,046)	(3,689,831)
Net current assets		2,411,116	1,907,746
Net assets		2,472,326	1,907,746
Capital and reserves
Called up share capital	8	15,000	15,000
Retained earnings		2,457,326	1,892,746
Shareholders' funds		2,472,326	1,907,746

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.

Directors' 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 directors acknowledge their 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 17 September 2025 and signed on its behalf by:
 

......................................... Mr Hashim Mohammed Director

International Property Specialists Limited

Notes to the Unaudited Financial Statements for the Period from 30 June 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:
Unit 28
Time Technology Park
Blackburn Road
Burnley
Lancashire
BB12 7TW

These financial statements were authorised for issue by the Board on 17 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

International Property Specialists Limited

Notes to the Unaudited Financial Statements for the Period from 30 June 2024 to 31 December 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

International Property Specialists Limited

Notes to the Unaudited Financial Statements for the Period from 30 June 2024 to 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 15 (2024 - 15).

4	Profit before tax

Arrived at after charging/(crediting)

	2024 £	2024 £
Depreciation expense	1,302	-

International Property Specialists Limited

Notes to the Unaudited Financial Statements for the Period from 30 June 2024 to 31 December 2024

5	Tangible assets

	Motor vehicles  £	Total £
Cost or valuation
Additions	62,512	62,512
At 31 December 2024	62,512	62,512
Depreciation
Charge for the period	1,302	1,302
At 31 December 2024	1,302	1,302
Carrying amount
At 31 December 2024	61,210	61,210

6

Debtors

	2024 £	2024 £
Other debtors	713,037	714,375
	713,037	714,375

7

Creditors

	Note	2024 £	2024 £
Due within one year
Loans and borrowings	9	40,297	53,872
Trade creditors		34,434	66,055
Taxation and social security		458,098	219,390
Accruals and deferred income		33,816	47,430
Other creditors		4,013,401	3,303,084
		4,580,046	3,689,831

8	Share capital

Allotted, called up and fully paid shares

	2024		2024
	No.	£	No.	£
Ordinary shares of £1 each	15,000	15,000	15,000	15,000

International Property Specialists Limited

Notes to the Unaudited Financial Statements for the Period from 30 June 2024 to 31 December 2024

9	Loans and borrowings

Current loans and borrowings

	2024 £	2024 £
Bank borrowings	31,197	33,872
Other borrowings	9,100	20,000
	40,297	53,872