Acorah Software Products - Accounts Production 19.3.550 false true 30 September 2024 1 April 2023 false 1 October 2024 30 September 2025 30 September 2025 SC365659 Mr B O'Grady IW Topco Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC365659 2024-09-30 SC365659 2025-09-30 SC365659 2024-10-01 2025-09-30 SC365659 frs-core:CurrentFinancialInstruments 2025-09-30 SC365659 frs-core:ComputerEquipment 2025-09-30 SC365659 frs-core:ComputerEquipment 2024-10-01 2025-09-30 SC365659 frs-core:ComputerEquipment 2024-09-30 SC365659 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-09-30 SC365659 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-01 2025-09-30 SC365659 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-09-30 SC365659 frs-core:MotorVehicles 2024-10-01 2025-09-30 SC365659 frs-core:OtherReservesSubtotal 2024-09-30 SC365659 frs-core:OtherReservesSubtotal 2025-09-30 SC365659 frs-core:RevaluationReserve 2024-09-30 SC365659 frs-core:RevaluationReserve 2025-09-30 SC365659 frs-core:ShareCapital 2025-09-30 SC365659 frs-core:RetainedEarningsAccumulatedLosses 2024-10-01 2025-09-30 SC365659 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2024-09-30 SC365659 frs-core:RetainedEarningsAccumulatedLosses 2025-09-30 SC365659 frs-bus:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 SC365659 frs-bus:FilletedAccounts 2024-10-01 2025-09-30 SC365659 frs-bus:SmallEntities 2024-10-01 2025-09-30 SC365659 frs-bus:AuditExempt-NoAccountantsReport 2024-10-01 2025-09-30 SC365659 frs-bus:SmallCompaniesRegimeForAccounts 2024-10-01 2025-09-30 SC365659 1 2024-10-01 2025-09-30 SC365659 frs-core:CostValuation 2024-09-30 SC365659 frs-core:DisposalsRepaymentsInvestments 2025-09-30 SC365659 frs-core:CostValuation 2025-09-30 SC365659 frs-core:ProvisionsForImpairmentInvestments 2024-09-30 SC365659 frs-core:ProvisionsForImpairmentInvestments 2025-09-30 SC365659 frs-bus:Director1 2024-10-01 2025-09-30 SC365659 frs-countries:Scotland 2024-10-01 2025-09-30 SC365659 2023-03-31 SC365659 2024-09-30 SC365659 2023-04-01 2024-09-30 SC365659 frs-core:CurrentFinancialInstruments 2024-09-30 SC365659 frs-core:ShareCapital 2024-09-30 SC365659 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30
Registered number: SC365659
IW GP Limited
Financial Statements
For The Year Ended 30 September 2025
IW GP Limited
Contents
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
IW GP Limited
Balance Sheet
As At 30 September 2025
Balance Sheet
Registered number: SC365659
30 September 2025 30 September 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 251,107 253,723
Investment Properties 5 1,120,000 1,120,000
Investments 6 3,165 28,166
1,374,272 1,401,889
CURRENT ASSETS
Debtors 7 1,240,970 1,159,709
Investments 8 520,000 520,000
Cash at bank and in hand 14,284 3,335
1,775,254 1,683,044
Creditors: Amounts Falling Due Within One Year 9 (255,133 ) (326,375 )
NET CURRENT ASSETS (LIABILITIES) 1,520,121 1,356,669
TOTAL ASSETS LESS CURRENT LIABILITIES 2,894,393 2,758,558
NET ASSETS 2,894,393 2,758,558
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 2,894,392 2,758,557
SHAREHOLDERS' FUNDS 2,894,393 2,758,558
Page 1
Page 2
IW GP Limited
Balance Sheet (continued)
As At 30 September 2025
For the year ending 30 September 2025 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 Profit and Loss Account.
On behalf of the board
Mr B O'Grady
Director
20 July 2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
IW GP Limited
Notes to the Financial Statements
For The Year Ended 30 September 2025
Notes to the Financial Statements
1. General Information
IW GP Limited is a private company, limited by shares, incorporated in Scotland, registered number SC365659 . The registered office is C/O Brodies Llp Capital Square, 58 Morrison Street, Edinburgh, EH3 8BP.
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. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rental income
Rental income from investment properties leased out under operating leases is recognised in the income statement on a straight-line basis over the lease term.
2.3. 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:
Freehold 4% straight line
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Computer Equipment Total
£ £ £
Cost
As at 1 October 2024 256,835 945 257,780
As at 30 September 2025 256,835 945 257,780
...CONTINUED
Page 3
Page 4
IW GP Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2025
Depreciation
As at 1 October 2024 3,703 354 4,057
Provided during the period 2,468 148 2,616
As at 30 September 2025 6,171 502 6,673
Net Book Value
As at 30 September 2025 250,664 443 251,107
As at 1 October 2024 253,132 591 253,723
5. Investment Property
30 September 2025
£
Fair Value
As at 1 October 2024 and 30 September 2025 1,120,000
In the period to 30 September 2024, the company acquired additional investment properties from a subsidiary company, IW Spanco Limited, at book value being their most recent valuation.
The director has inspected the properties at 30 September 2025 and considers them to be correctly valued at their market value.
6. Investments
Subsidiaries Associates Other Total
£ £ £ £
Cost or Valuation
As at 1 October 2024 3,100 66 25,000 28,166
Disposals - (1 ) (25,000 ) (25,001 )
As at 30 September 2025 3,100 65 - 3,165
Provision
As at 1 October 2024 - - - -
As at 30 September 2025 - - - -
Net Book Value
As at 30 September 2025 3,100 65 - 3,165
As at 1 October 2024 3,100 66 25,000 28,166
The company owns 100% of the issued share capital of IW Spanco Limited. The company is registered in England and Wales with a registered office of Badger's Holt, Lount Road, Osbaston, Market Bosworth, Warwickshire, CV13 0HR. The company has been dormant throughout the year.
The company owns 100% of the shares of IW (Sutton) Limited. The company is registered in Jersey with a registered address of Beauport House, L'Avenue De La Commune, St Peter, Jersey, JE3 7BY. The address of the UK establishment is Badger's Holt, Lount Road, Osbaston, Market Bosworth, Warwickshire, CV13 0HR.
On 5 December 2022, the company acquired 65 B ordinary £1 shares and 50 A ordinary 1p shares in Smiths Property Midlands Limited at par value. During the year the 50 A ordinary 1p shares were redeemed at cost. The company is registered in England and Wales with a registered address of 42 Main Street, East Leake, Leicestershire, LE12 6PG. The company is trading as an Estate Agency.
...CONTINUED
Page 4
Page 5
IW GP Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2025
6. Investments - continued
On 15 December 2022, IW GP Limited and Smiths Property Midlands Limited entered into a secured revolving loan facility agreement. IW GP Limited had agreed to lend a maximum of £150,000. This was reduced to £125,000 on 15 October 2023 and then further reduced to £100,000 on 30 November 2023. The loan was repaid in full in December 2024. The loan was repayable as and when cash resources permitted. Interest was payable at a rate of 10% per annum on the element of the loan that had been drawn and at a rate of 5% per annum on the element of the loan that had not yet been drawn.
7. Debtors
30 September 2025 30 September 2024
£ £
Due within one year
Trade debtors 6,500 6,500
Amounts owed by group undertakings 188,613 156,219
Other debtors 616 1,223
195,729 163,942
Due after more than one year
Other debtors 1,045,241 995,767
1,240,970 1,159,709
Other debtors includes an amount of £1,045,241 (2024: £995,767) being a loan to IW Dakar SL. The loan is considered to be a long term loan and will be repaid when the borrower's resources permit. An interest rate of 2.44% per annum is being charged which is considered to be a commercial rate between unconnected parties. The interest charge has been waived until IW Dakar SL is able to start trading.
8. Current Asset Investments
30 September 2025 30 September 2024
£ £
Unlisted investments 520,000 520,000
9. Creditors: Amounts Falling Due Within One Year
30 September 2025 30 September 2024
£ £
Amounts owed to group undertakings 83,435 92,272
Other creditors 171,698 234,103
255,133 326,375
10. Share Capital
30 September 2025 30 September 2024
£ £
Allotted, Called up and fully paid 1 1
Page 5
Page 6
IW GP Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2025
11. Reserves
Fair value reserve Blocked reserves Profit and Loss Account
£ £ £
As at 1 October 2024 - - 2,758,557
Profit for the year and total comprehensive income - - 135,835
As at 30 September 2025 - - 2,894,392
Fair value reserve
This records the value of investment property fair value movements.
Profit and loss account
This reserve records retained earnings and accumulated losses.
Blocked reserves
This reserve records the reserves that could not be distributedd before 1 April 2023 under terms proposed to the Royal Courts of Jersey as part of the process by which that Court approved the Scheme of Arrangement for the reorganisation of LXB Retail Properties Plc. The blocked reserves were released to the profit and loss account at March 2024.
12. Related Party Transactions
Included within debtors is an amount of £171,905 (2024: £139,511), owed by the ultimate parent company, IW Topco Limited. This is interest free and repayable on demand. 
Also within debtors, is an amount of £16,708 (2024: £16,708), owed by other group undertakings. This amount is interest free and repayable on demand.
Included within creditors, is an amount of £83,435 (2024: £92,272) due to other group undertakings. This amount is interest free and repayable on demand.
Investments included a loan of £Nil (2024: £25,000) made to Smiths Property Midlands Limited. IW GP Limited owns 32.5% of the issued B ordinary £1 shares and 50% of the issued A ordinary 1p shares. During the year the A ordinary 1p shares were redeemed in full. Mr B O'Grady, who controls IW Topco Limited, is also a director of Smiths Property Midlands Limited.
13. Ultimate Controlling Party
The company's ultimate controlling party is IW Topco Limited by virtue of his ownership of 100% of the issued share capital in the company. This is a company registered in England and Wales. The registered office is Badger's Holt, Lount Road, Osbaston, Nuneaton, Warwickshire, CV13 0HR.
IW Topco Limited is controlled by Mr B O'Grady.
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