Registration number: 04609509

Ince Property Management Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Ince Property Management Ltd

Company Information

Directors

Mr Simon Ince Mr Carl Ince

Registered office

HML Davies Limited 9 Riverside Waters Meeting Road Bolton BL1 8TU

Accountants

HML Davies Limited Chartered Certified Accountants9 Riverside Waters Meeting Road Bolton BL1 8TU

Ince Property Management Ltd

(Registration number: 04609509)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	287,262	294,238
Current assets
Debtors	5	26,770	30,686
Cash at bank and in hand		7,170	33,363
		33,940	64,049
Creditors: Amounts falling due within one year	6	(8,902)	(23,561)
Net current assets		25,038	40,488
Total assets less current liabilities		312,300	334,726
Creditors: Amounts falling due after more than one year	6	(114,583)	(127,083)
Net assets		197,717	207,643
Capital and reserves
Called up share capital	7	250	250
Revaluation reserve		165,281	165,281
Retained earnings		32,186	42,112
Shareholders' funds		197,717	207,643

For the financial year 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 year 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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 September 2025 and signed on its behalf by:
 

......................................... Mr Simon Ince Director

Ince Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
HML Davies Limited
9 Riverside
Waters Meeting Road
Bolton
BL1 8TU

The principal place of business is:
102a Wigan Road
Atherton
Manchester
M46 0LN

These financial statements were authorised for issue by the Board on 23 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

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.

Ince Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land & Buildings	Depreciation is not provided on land
Plant & Machinery	15% Straight Line

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.

Ince Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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 directors) during the year, was 2 (2023 - 2).

4	Tangible assets

	Land and buildings £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	412,829	7,171	420,000
At 31 December 2024	412,829	7,171	420,000
Depreciation
At 1 January 2024	118,591	7,171	125,762
Charge for the year	6,976	-	6,976
At 31 December 2024	125,567	7,171	132,738
Carrying amount
At 31 December 2024	287,262	-	287,262
At 31 December 2023	294,238	-	294,238

Included within the net book value of land and buildings above is £287,263 (2023 - £294,239) in respect of freehold land and buildings.
 

5

Debtors

Current	2024 £	2023 £
Other debtors	26,770	30,686
	26,770	30,686

Ince Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Taxation and social security	7,702	7,961
Accruals and deferred income	1,200	15,600
	8,902	23,561

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	114,583	127,083

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary A of £1 each	100	100	100	100
Ordinary B of £1 each	100	100	100	100
Ordinary C of £1 each	50	50	50	50
	250	250	250	250

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	114,583	127,083