Ipl (Leeds) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 13751576

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		23,692		17,191
Tangible Assets	5		48,690		35,829

			72,382		53,020
CURRENT ASSETS
Debtors	6	388,908		255,066
Cash at bank and in hand		10,648		25,117

		399,556		280,183
Creditors: Amounts Falling Due Within One Year	7	(300,095 )		(208,845 )

NET CURRENT ASSETS (LIABILITIES)			99,461		71,338

TOTAL ASSETS LESS CURRENT LIABILITIES			171,843		124,358

Creditors: Amounts Falling Due After More Than One Year	8		(171,730 )		(120,310 )

NET ASSETS			113		4,048

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			13		3,948

SHAREHOLDERS' FUNDS			113		4,048

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Ipl (Leeds) Limited

Balance Sheet (continued)

As At 30 November 2025

For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The directors acknowledge their 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 Daniel Yates

Director

26/08/2026

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

1. General Information

Ipl (Leeds) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13751576 . The registered office is Studio 1 Elbow Rooms, 64 - 68 Call Lane, Leeds, LS1 6DT.

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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The other intangibles are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Software assets are measured at cost less accumulated amortisation and any accumulated impairment losses. Amortisation on software is provided at rates calculated to write off the cost of the assets, less their estimated residual value, over their expected useful lives on the basis of 20% straight line.

2.4. 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:

Plant & Machinery	20% Straight Line
Motor Vehicles	25% Reducing Balance
Computer Equipment	25% Straight Line

2.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.6. 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.

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Ipl (Leeds) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.7. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 5)

4. Intangible Assets

	Other Intangible Assets
	£
Cost
As at 1 December 2024	17,191
Additions	6,501

As at 30 November 2025	23,692

Net Book Value
As at 30 November 2025	23,692

As at 1 December 2024	17,191

5. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 December 2024	55,890
Additions	53,485
Disposals	(48,937 )

As at 30 November 2025	60,438

Depreciation
As at 1 December 2024	20,061
Provided during the period	12,457
Disposals	(20,770 )

As at 30 November 2025	11,748

Net Book Value
As at 30 November 2025	48,690

As at 1 December 2024	35,829

The net carrying value of tangible fixed assets includes £31,351 (2023 - £41,800) in respect of assets held under finance leases or hire purchase contracts.

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Ipl (Leeds) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	338,040	159,815
Other debtors	50,868	95,251

	388,908	255,066

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	8,683	10,445
Trade creditors	158,342	73,418
Other creditors	1,755	53,779
Taxation and social security	131,315	71,203

	300,095	208,845

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

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	31,730	20,310
Other loans	140,000	100,000

	171,730	120,310

Other loans of £140,000 (2024 - £100,000) are secured against the assets of the company.

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	8,683	10,445
Later than one year and not later than five years	31,730	20,310

	40,413	30,755

	40,413	30,755

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

11. Director's Disqualification

Daniel Yates, director of IPL (Leeds) Limited, was subject to a disqualification undertaking, however has been granted permission to be a director and take part in the management of the company.

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