Ibbetas Property Group Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 15455729 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2026

for

Ibbetas Property Group Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S L Ibbetson

A J Ibbetson

REGISTERED OFFICE:

42 Victoria Road

Guiseley

Leeds

West Yorkshire

LS20 8DG

REGISTERED NUMBER:

15455729 (England and Wales)

ACCOUNTANTS:

Whitesides Chartered Accountants

Lister House

Lister Hill

Horsforth

Leeds

LS18 5AZ

FIXED ASSETS

Intangible assets

4

-

7,286

Tangible assets

5

3,894

5,525

Investment property

6

-

545,151

3,894

557,962

CURRENT ASSETS

Stocks

550,261

-

Debtors

7

38,356

28,457

Cash at bank

17,891

1,859

606,508

30,316

CREDITORS

Amounts falling due within one year

8

823,556

607,235

NET CURRENT LIABILITIES

(217,048

)

(576,919

)

TOTAL ASSETS LESS CURRENT

LIABILITIES

(213,154

)

(18,957

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(213,254

)

(19,057

)

(213,154

)

(18,957

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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 22 October 2026 and were signed on its behalf by:

A J Ibbetson - Director

1.	STATUTORY INFORMATION

Ibbetas Property Group 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.

Turnover

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

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 paid for the goods.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of seven years.

Intangible assets

Patents and licenses are initially measured at cost. After initial recognition, patents and licenses are measured at cost less less any accumulated amortisation. Patents and licenses are being amortised evenly over their estimated useful life of 10 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 - 20% on cost

Fixtures & fittings - 15% reducing balance

Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation.

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2025 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2025

8,500

Reclassification/transfer

(8,500

)

At 31 January 2026

-

AMORTISATION

At 1 February 2025

1,214

Reclassification/transfer

(1,214

)

At 31 January 2026

-

NET BOOK VALUE

At 31 January 2026

-

At 31 January 2025

7,286

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2025

6,500

Additions

4,514

Reclassification/transfer

(6,500

)

At 31 January 2026

4,514

DEPRECIATION

At 1 February 2025

975

Charge for year

620

Reclassification/transfer

(975

)

At 31 January 2026

620

NET BOOK VALUE

At 31 January 2026

3,894

At 31 January 2025

5,525

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2025

545,151

Reclassification/transfer

(545,151

)

At 31 January 2026

-

NET BOOK VALUE

At 31 January 2026

-

At 31 January 2025

545,151

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Amounts owed by related parties

34,157

28,457

Other debtors

4,199

-

38,356

28,457

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Bank loans and overdrafts

199,021

-

Trade creditors

24,492

1,509

Taxation and social security

784

-

Other creditors

599,259

605,726

823,556

607,235

9.	RELATED PARTY DISCLOSURES

During the year, loans were made to related parties.

An amount of £28,457 (2025: £28,457) is owing from a related company at the year end. Another amount of £5,700 (2025: £Nil) is owing from a related company at the year end.

The loans are interest free with no fixed terms for repayment.