Registration number: 03497863

Irlam Property Management Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Irlam Property Management Limited

(Registration number: 03497863)
Statement of Financial Position as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	235	323
Investment property	5	494,001	734,000
		494,236	734,323
Current assets
Debtors		76,022	-
Cash at bank and in hand		27,890	19,219
		103,912	19,219
Creditors: Amounts falling due within one year	6	(8,386)	(149,244)
Net current assets/(liabilities)		95,526	(130,025)
Total assets less current liabilities		589,762	604,298
Provisions for liabilities		(67,948)	(72,970)
Net assets		521,814	531,328
Capital and reserves
Called up share capital		1	1
Non-distributable reserve		280,702	332,573
Retained earnings		241,111	198,754
Shareholders' funds		521,814	531,328

Irlam Property Management Limited

(Registration number: 03497863)
Statement of Financial Position as at 31 January 2025

For the financial year ending 31 January 2025 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 year 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 and 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 Income Statement.

Approved and authorised by the director on 3 September 2025
 

......................................... Mr P Hodson Director

Irlam Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1	General information

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

The address of its registered office is:
59 Cromwell Road
Irlam
Manchester
Lancashire
M44 5AB
United Kingdom

These financial statements were authorised for issue by the director on 3 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 - '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 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 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.

Tax

The tax expense for the period comprises current and deferred 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 country where the company operates and generates taxable income.

Irlam Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	33% straight line
Plant and machinery	25% reducing balance

Investment property

Investment property is carried at fair value, derived from current market prices for comparable retail estate dtermined annually by Mr P Hodson, the sole director of the company. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

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.

Irlam Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 February 2024	2,080	1,086	3,166
At 31 January 2025	2,080	1,086	3,166
Depreciation
At 1 February 2024	1,664	1,075	2,739
Charge for the year	182	10	192
At 31 January 2025	1,846	1,085	2,931
Carrying amount
At 31 January 2025	234	1	235
At 31 January 2024	312	11	323

5	Investment properties

	2025 £
At 1 February	734,000
Disposals	(219,999)
Fair value adjustments	(20,000)
At 31 January	494,001

The investment properties were valued at 31 January 2025 by the director based on current market values. He considered the values of those still held at the accounting date to be £494,001 (2024: £734,000). The cost of these properties was £145,408 (2024: £328,537).

Irlam Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

There has been no valuation of investment property by an independent valuer.

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	109	105
Taxation and social security	4,091	2,930
Accruals and deferred income	4,186	5,201
Other creditors	-	141,008
	8,386	149,244

Creditors: amounts falling due after more than one year

2025 £

2024 £

Creditors: amounts falling due after more than one year include bank borrowings which are secured on the company's fixed assets of £Nil (2023 - £100,340).

7	Related party transactions

Transactions with the director

2025	At 1 February 2024 £	Advances to director £	At 31 January 2025 £
Mr P Hodson
Payable on demand with interest charged at a commercial rate	(140,707)	216,731	76,024

2024	At 1 February 2023 £	Other payments made to company by director £	At 31 January 2024 £
Mr P Hodson
Payable on demand with interest charged at a commercial rate	(399)	(140,308)	(140,707)