| REGISTERED NUMBER: |
| IPR Industries Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| REGISTERED NUMBER: |
| IPR Industries Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| IPR Industries Limited (Registered number: 02737267) |
| Contents of the Financial Statements |
| for the year ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| IPR Industries Limited |
| Company Information |
| for the year ended 31 December 2024 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| New Derwent House |
| 69-73 Theobalds Road |
| London |
| WC1X 8TA |
| IPR Industries Limited (Registered number: 02737267) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investments | 5 |
| Current assets |
| Debtors | 6 |
| Investments | 7 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 8 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
9 |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Share premium |
| Retained earnings |
| Shareholders' funds |
| The directors acknowledge their 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. |
| IPR Industries Limited (Registered number: 02737267) |
| Balance Sheet - continued |
| 31 December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| IPR Industries Limited (Registered number: 02737267) |
| Notes to the Financial Statements |
| for the year ended 31 December 2024 |
| 1. | Statutory information |
| IPR Industries Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. |
| The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
| The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group. |
| Turnover |
| Turnover is recognised at the fair value of the consideration received for management fees and investment income, and is shown net of VAT. |
| Tangible fixed assets |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
| Fixtures, fittings & equipment | 3 years straight line |
| Motor vehicles | 20% reducing balance |
| Fixed asset investments |
| Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
| Impairment of fixed assets |
| At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| Cash and cash equivalents |
| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| IPR Industries Limited (Registered number: 02737267) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 2. | Accounting policies - continued |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
| Basic financial assets |
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs . Financial assets classified as receivable within one year are not amortised. |
| Current asset investments |
| Other investments are measured at cost. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors and loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. |
| Equity instruments |
| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. |
| Employee benefits |
| The cost of any material unused holiday entitlement is recognised in the period in which the employee’s services are received. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| IPR Industries Limited (Registered number: 02737267) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 5. | Fixed asset investments |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| Cost |
| At 1 January 2024 | 1,533,204 |
| Disposals | ( |
) | (33,225 | ) |
| At 31 December 2024 | 1,499,979 |
| Net book value |
| At 31 December 2024 | 1,499,979 |
| At 31 December 2023 | 1,533,204 |
| 6. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | Current asset investments |
| Current asset investments |
| 2023 | 2022 |
| In respect of: | £ | £ |
| Current asset investments | 165,481 | 179,224 |
| Listed investments included above: |
| Listed investments carrying amount | 165,481 | 1179,224 |
| Market value if different from carrying amount | 1,293,054 | 1,083,893 |
| The current asset investments are measured at cost. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
| 8. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts |
| Taxation and social security |
| Other creditors |
| IPR Industries Limited (Registered number: 02737267) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 9. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts |
| Other creditors |
| The aggregate amount of creditors for which security has been given amounted to £8,016 (2023 - £8,016) as detailed in a Deed of Security Assignment, dated 1 December 2010, and filed with the Registrar of Companies. |
| 10. | Subsidiaries |
| Details of the company's subsidiaries at 31 December 2024 are as follows: |
| Name of undertaking | Registered office | Nature of business |
Class of shares held |
% Held Direct |
| IPR Property Limited | IPR House, 37 Guildford Road, Lightwater, Surrey, GU18 5SA |
Property rental | Ordinary | 100.00 |
| 11. | Related party transactions |
| Included within debtors is an amount of £610,464 (2023 - £573,062), due from a group company, which may not be recoverable within twelve months. |
| 12. | Directors' transactions |
| Included within creditors at the year end is an amount of £105,174 (2023 - £87,235) owed to P N E Martensson, director. |