COMPANY REGISTRATION NUMBER:
15624282
|
Ibex Properties (Leicester) Ltd |
|
|
Filleted Unaudited Financial Statements |
|
|
Ibex Properties (Leicester) Ltd |
|
|
Statement of Financial Position |
|
30 April 2025
Fixed assets
|
Tangible assets |
4 |
260,846 |
|
|
|
Current assets
|
Debtors |
5 |
221 |
|
Cash at bank and in hand |
52,725 |
|
-------- |
|
52,946 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
141,759 |
|
--------- |
|
Net current liabilities |
88,813 |
|
--------- |
|
Total assets less current liabilities |
172,033 |
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
181,887 |
|
--------- |
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Net liabilities |
(
9,854) |
|
--------- |
|
|
|
Capital and reserves
|
Called up share capital |
100 |
|
Profit and loss account |
(
9,954) |
|
------- |
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Shareholders deficit |
(
9,854) |
|
------- |
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 April 2025 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 financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Ibex Properties (Leicester) Ltd |
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Statement of Financial Position (continued) |
|
30 April 2025
These financial statements were approved by the
board of directors
and authorised for issue on
22 December 2025
, and are signed on behalf of the board by:
Company registration number:
15624282
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Ibex Properties (Leicester) Ltd |
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Notes to the Financial Statements |
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Period from 7 April 2024 to 30 April 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company's balance sheet shows an insolvent position and the directors have stated that they will continue to support the company, therefore the company will continue on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration for rental income receivable. Revenue is recognised in the accounting period in which the company obtains the right to consideration in exchange for its performance.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Tangible assets
|
Investment property |
|
£ |
|
Cost |
|
|
At 7 April 2024 |
– |
|
Additions |
260,846 |
|
--------- |
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At 30 April 2025 |
260,846 |
|
--------- |
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Depreciation |
|
|
At 7 April 2024 and 30 April 2025 |
– |
|
--------- |
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Carrying amount |
|
|
At 30 April 2025 |
260,846 |
|
--------- |
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|
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
The directors consider that the investment property is held at it's fair value.
5.
Debtors
|
30 Apr 25 |
|
£ |
|
Other debtors |
221 |
|
---- |
|
|
6.
Creditors:
amounts falling due within one year
|
30 Apr 25 |
|
£ |
|
Other creditors |
141,759 |
|
--------- |
|
|
7.
Creditors:
amounts falling due after more than one year
|
30 Apr 25 |
|
£ |
|
Bank loans and overdrafts |
181,887 |
|
--------- |
|
|
Charter Court Financial Services Limited Trading as Precise Mortgages hold a legal charge secured on 15 Hattersley Way, Leicester, LE2 7BB. The charge was registered on 12 February 2025.
8.
Directors' advances, credits and guarantees
At the balance sheet date the directors were owed £139,658 by the company.