REGISTERED NUMBER: 03294586 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2025

for

I-Property (Birmingham) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S C J Morrall

G Morrall

SECRETARY:

Miss C J Morrall

REGISTERED OFFICE:

Unit 8

Caroline Point

Caroline Street

Birmingham

West Midlands

B3 1UF

REGISTERED NUMBER:

03294586 (England and Wales)

ACCOUNTANTS:

Pinfields Limited

Chartered Accountants

Meryll House

57 Worcester Road

Bromsgrove

Worcestershire

B61 7DN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,929

2,268

Investments

6

53

53

Investment property

7

1,161,973

1,761,973

1,163,955

1,764,294

CURRENT ASSETS

Debtors

8

689,940

685,249

Cash at bank

20,434

2,064

710,374

687,313

CREDITORS

Amounts falling due within one year

9

309,438

198,070

NET CURRENT ASSETS

400,936

489,243

TOTAL ASSETS LESS CURRENT LIABILITIES

1,564,891

2,253,537

CREDITORS

Amounts falling due after more than one year

10

(876,138

)

(1,195,694

)

PROVISIONS FOR LIABILITIES

-

(10,972

)

NET ASSETS

688,753

1,046,871

CAPITAL AND RESERVES

Called up share capital

251,912

251,912

Fair value reserve

12

239,131

370,145

Retained earnings

197,710

424,814

688,753

1,046,871

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2026 and were signed on its behalf by:

G Morrall - Director

1.	STATUTORY INFORMATION

I-Property (Birmingham) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about I-Property (Birmingham) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets

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

Plant and machinery etc

-

15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 June 2024

and 31 May 2025

18,400

AMORTISATION

At 1 June 2024

and 31 May 2025

18,400

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2024

and 31 May 2025

4,878

DEPRECIATION

At 1 June 2024

2,610

Charge for year

339

At 31 May 2025

2,949

NET BOOK VALUE

At 31 May 2025

1,929

At 31 May 2024

2,268

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2024

and 31 May 2025

53

NET BOOK VALUE

At 31 May 2025

53

At 31 May 2024

53

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

1,761,973

Disposals

(600,000

)

At 31 May 2025

1,161,973

NET BOOK VALUE

At 31 May 2025

1,161,973

At 31 May 2024

1,761,973

Fair value at 31 May 2025 is represented by:

£

Valuation in 2001

49,635

Valuation in 2002

48,000

Valuation in 2006

35,000

Valuation in 2018

25,000

Valuation in 2021

122,460

Cost

881,878

1,161,973

If investment properties had not been revalued they would have been included at the following historical cost:

31.5.25

31.5.24

£

£

Cost

881,878

1,307,192

Aggregate depreciation

(120,560

)

(137,260

)

An investment property was valued on an open market basis on 31 May 2022 by the Director .

Depreciation is estimated based on 1% of cost.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade debtors

2,438

1,308

Other debtors

687,502

683,941

689,940

685,249

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans and overdrafts

6,777

37,242

Trade creditors

2,259

3,240

Amounts owed to group undertakings

4,333

4,333

Taxation and social security

507

535

Other creditors

295,562

152,720

309,438

198,070

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans

642,039

848,128

Other creditors

234,099

347,566

876,138

1,195,694

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

613,171

654,016

Other loans more 5yrs instal

60,654

-

673,825

654,016

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.25

31.5.24

£

£

Bank loans

648,816

885,370

Other loans

439,519

353,318

1,088,335

1,238,688

The bank and other loans are secured by way of a guarantee and charges over the investment properties of I-Property (Birmingham) Limited and a guarantee secured on the company shareholding.

12.

RESERVES

Fair

value

reserve

£

At 1 June 2024

370,145

Deferred taxation on realised

43,672

Realisation on sale

(174,686

)

At 31 May 2025

239,131

13.	RELATED PARTY DISCLOSURES

At the year end the company had amounts due to subsidiary companies of £4,333 (2024 £4,333).

At the year end the company had £674,453 (2024 £669,181) due from related parties, and £35,333 (2024 £107,094) due to other related parties.