ACCOUNTS - Final Accounts

Registered number: 08702891

IPN PROPERTY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

IPN PROPERTY LIMITED

REGISTERED NUMBER: 08702891

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2024

		2024		2023
Note	£	£	£	£


Current assets
Cash at bank and in hand	4	8,226		8,294
Creditors: amounts falling due within one year	5	(26,657)		(25,430)
Net current liabilities			(18,431)		(17,136)

Net liabilities			(18,431)		(17,136)

Capital and reserves
Called up share capital	6	3	3
Profit and loss account		(18,434)	(17,139)
		(18,431)	(17,136)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2025.

P K Fernberg

Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

IPN PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.	General information

IPN Property Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, UB8 2FX.
The company specialises in property investment.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on going concern basis. However the Statement of financial position records a net liability of £18,431 (2023 - £17,136), which indicates that company may not be a going concern.
The directors and beneficial shareholder have provided the company during the year a net loan of £15,695 (2023 - £15,668). The directors and beneficial shareholder have confirmed that they will not seek repayments of this loan until such time as the company have sufficient funds to do so.
On the above basis, the directors consider that the preparation of financial statements on a going concern basis is appropriate.

2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 2

IPN PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	8,226	8,294
	8,226	8,294

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	1,459	259
Other creditors	23,473	23,446
Accruals and deferred income	1,725	1,725
	26,657	25,430

6.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

3 Ordinary shares of £1 each	3	3

Related party transactions

During the year, the company received a net loan of £9 (2023 - £374) from a shareholder. No interest has been charged or is accruing on the loan. At the year end, £5,565 (2023 - £5,556) was owed to a shareholder.

Other creditors include a balance of £7,778 (2023 - £7,778) due to Panarc Interior Solutions LLP, a LLP under common control of the directors.

At the year end, an amount of £10,130 (2023 - £10,112) was due to the company's directors. The loans are interest free and repayable on demand.

8.	Controlling party

In the opinion of the directors, there is no controlling party.

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