IBV International Vaults (London) Ltd.

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: 10441385

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		1,410,097		1,520,461

			1,410,097		1,520,461
CURRENT ASSETS
Debtors	6	46,796		60,899

		46,796		60,899
Creditors: Amounts Falling Due Within One Year	7	(30,550 )		(40,324 )

NET CURRENT ASSETS (LIABILITIES)			16,246		20,575

TOTAL ASSETS LESS CURRENT LIABILITIES			1,426,343		1,541,036

Creditors: Amounts Falling Due After More Than One Year	8		(3,246,808 )		(3,356,629 )

NET LIABILITIES			(1,820,465 )		(1,815,593 )

CAPITAL AND RESERVES
Called up share capital			1		1
Income Statement			(1,820,466 )		(1,815,594 )

SHAREHOLDERS' FUNDS			(1,820,465)		(1,815,593)

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IBV International Vaults (London) Ltd.

Statement of Financial Position (continued)

As At 31 December 2024

For the 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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr J J Hoey

Director

30/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

IBV International Vaults (London) Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 10441385 . The registered office is 46 Park Lane, Mayfair, London, W1K 1PW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

At the time of approving the financial statements, the director has a reasonable expectation that the beneficiary owner will provide adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are Websites. It is amortised to income statement over its estimated economic life of 5 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	Equal instalments over the period of the lease
Lockers	Equal instalments over the period of the lease
Fixtures & Fittings	Equal instalments over the period of the lease
Computer Equipment	33.33% straight line

2.6. Leasing and Hire Purchase Contracts

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Intangible Assets

	Website
	£
Cost
As at 1 January 2024	14,025

As at 31 December 2024	14,025

Amortisation
As at 1 January 2024	14,025

As at 31 December 2024	14,025

...CONTINUED

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IBV International Vaults (London) Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

5. Tangible Assets

	Land & Property
	Leasehold	Lockers	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	1,498,988	360,621	272,188	17,676	2,149,473
Additions	-	-	7,578	-	7,578

As at 31 December 2024	1,498,988	360,621	279,766	17,676	2,157,051

Depreciation
As at 1 January 2024	430,021	107,538	73,880	17,573	629,012
Provided during the period	82,174	20,034	15,631	103	117,942

As at 31 December 2024	512,195	127,572	89,511	17,676	746,954

Net Book Value
As at 31 December 2024	986,793	233,049	190,255	-	1,410,097

As at 1 January 2024	1,068,967	253,083	198,308	103	1,520,461

6. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	46,796	60,899

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	13,020	26,162
Other creditors	1,123	130
Taxation and social security	16,407	14,032

	30,550	40,324

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Amounts owed to participating interests	3,246,808	3,356,629

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IBV International Vaults (London) Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Later than five years	2,162,558	2,331,704

	2,162,558	2,331,704

10. Related Party Transactions

As at 31 December 2024, IBV International Vaults (London) Ltd owed £3,246,808 (2023: £3,356,629) to IBV Management London Limited. This loan is unsecured, interest free, repayable on demand and also long term in nature.

11. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Global Vaults Holdings . Global Vaults Holdings was incorporated in Mauritius. The registered office of the parent company is 365 Royal Road, Rose Hill, Mauritius . The ultimate controlling party is Global Vaults Holdings who controls 100% of the shares of IBV International Vaults (London) Ltd. .

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