REGISTERED NUMBER: 10587682 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

IGLO PROPERTIES LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

C H Sykes

REGISTERED OFFICE:

Cloverhill House

Fishwick Mains

Berwick upon Tweed

Northumberland

TD15 1XQ

REGISTERED NUMBER:

10587682 (England and Wales)

ACCOUNTANTS:

J.H. Greenwood & Company

Chartered Accountants

Ava Lodge

Castle Terrace

Berwick Upon Tweed

Northumberland

TD15 1NP

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Iglo Properties Ltd for the year ended 28 February 2025 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Iglo Properties Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Iglo Properties Ltd and state those matters that we have agreed to state to the director of Iglo Properties Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Iglo Properties Ltd and its director for our work or for this report.

It is your duty to ensure that Iglo Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Iglo Properties Ltd. You consider that Iglo Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Iglo Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

J.H. Greenwood & Company

Chartered Accountants

Ava Lodge

Castle Terrace

Berwick Upon Tweed

Northumberland

TD15 1NP

27 August 2025

FIXED ASSETS

Tangible assets

4

366,090

348,509

Investment property

5

662,641

662,641

1,028,731

1,011,150

CURRENT ASSETS

Stocks

-

438,746

Debtors

6

125,620

9,808

Cash at bank

126,959

42,711

252,579

491,265

CREDITORS

Amounts falling due within one year

7

975,904

1,176,023

NET CURRENT LIABILITIES

(723,325

)

(684,758

)

TOTAL ASSETS LESS CURRENT LIABILITIES

305,406

326,392

CREDITORS

Amounts falling due after more than one year

8

(9,466

)

-

PROVISIONS FOR LIABILITIES

9

(43,008

)

(35,922

)

NET ASSETS

252,932

290,470

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

10

105,740

105,740

Retained earnings

146,192

183,730

252,932

290,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2025 and were signed by:

C H Sykes - Director

1.	STATUTORY INFORMATION

Iglo Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Straight line over 10 years

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 March 2024

160,210

270,395

50,750

292

481,647

Additions

-

30,000

39,994

-

69,994

Disposals

-

-

(37,500

)

-

(37,500

)

At 28 February 2025

160,210

300,395

53,244

292

514,141

DEPRECIATION

At 1 March 2024

7,902

98,718

26,500

18

133,138

Charge for year

2,634

27,987

6,923

73

37,617

Eliminated on disposal

-

-

(22,704

)

-

(22,704

)

At 28 February 2025

10,536

126,705

10,719

91

148,051

NET BOOK VALUE

At 28 February 2025

149,674

173,690

42,525

201

366,090

At 29 February 2024

152,308

171,677

24,250

274

348,509

Included in cost or valuation of land and buildings is freehold land of £ 133,875 (2024 - £ 133,875 ) which is not depreciated.

Cost or valuation at 28 February 2025 is represented by:

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

Valuation in 2021

7,628

-

-

-

7,628

Cost

152,582

300,395

53,244

292

506,513

160,210

300,395

53,244

292

514,141

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

and 28 February 2025

662,641

NET BOOK VALUE

At 28 February 2025

662,641

At 29 February 2024

662,641

Fair value at 28 February 2025 is represented by:

£

Valuation in 2019

7,941

Valuation in 2020

14,890

Valuation in 2021

27,572

Valuation in 2022

57,900

Valuation in 2023

12,738

Valuation in 2024

12,994

Cost

528,606

662,641

6.

DEBTORS

28/2/25

29/2/24

£

£

Amounts falling due within one year:

Trade debtors

2,153

2,608

Other debtors

4,717

200

6,870

2,808

Amounts falling due after more than one year:

Other debtors

118,750

7,000

Aggregate amounts

125,620

9,808

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/25

29/2/24

£

£

CHS Assets Ltd

683,857

1,003,857

Hire purchase contracts

6,682

-

Payments on account

517

517

Trade creditors

14,608

6,746

Taxation and social security

-

9,161

Directors Loan Account & Accruals

270,240

155,742

975,904

1,176,023

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28/2/25

29/2/24

£

£

Hire purchase contracts

9,466

-

9.	PROVISIONS FOR LIABILITIES

28/2/25

29/2/24

£

£

Deferred tax

43,008

35,922

Deferred

tax

£

Balance at 1 March 2024

35,922

Provided during year

7,086

Balance at 28 February 2025

43,008

10.

RESERVES

Fair

value

reserve

£

At 1 March 2024

and 28 February 2025

105,740

11.	RELATED PARTY DISCLOSURES

Tobacco Imports and Supply Ltd

The director C H Sykes is the sole director of Tobacco Imports and Supply Ltd. During the year the company was loaned £2,800 (2024 - £2,800) from Tobacco Imports and Supply Ltd all of which was outstanding at the year end. The loan has no fixed repayment date and is interest free.

CHS Assets Ltd

The director C H Sykes is the sole director of CHS Assets Ltd. During the year the company was loaned £683,857 (2024 - £1,003,857) from CHS Assets Ltd all of which was outstanding at the year end. The loan has no fixed repayment date and is interest free.

Colin Hunter Sykes

As at 28th February 2025 £81,240 (2024 - £154,242) is owed to C.H. Sykes who is sole director of the company. The loan has no fixed repayment date and is interest free.