Company registration number 04387034 (England and Wales)
IPSWICH TOWN PROPERTY COMPANY LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
IPSWICH TOWN PROPERTY COMPANY LIMITED
COMPANY INFORMATION
Directors
Mr B Bakay
Mr M K O'Leary
Company number
04387034
Registered office
Portman Road
Ipswich
IP1 2DA
IPSWICH TOWN PROPERTY COMPANY LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
IPSWICH TOWN PROPERTY COMPANY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2023
- 1 -
The directors present their annual report and financial statements for the year ended 30 June 2023.
Principal activities
The principal activity of the company continued to be that of a dormant company.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr B Bakay
Mr M K O'Leary
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr M K O'Leary
Director
29 February 2024
IPSWICH TOWN PROPERTY COMPANY LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
1
1
Net current assets
1
1
Capital and reserves
-
-
Called up share capital
1
1
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 February 2024 and are signed on its behalf by:
Mr M K O'Leary
Director
Company registration number 04387034 (England and Wales)
IPSWICH TOWN PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information
Ipswich Town Property Company Limited is a private company, limited by shares, incorporated in England and Wales. The registered office is Portman Road, Ipswich, IP1 2DA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1,000.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which including amounts due from group undertakings are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
2
Employees
The average monthly number of persons employed by the company during the year was:
2023
2022
Number
Number
Total
IPSWICH TOWN PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1
1
4
Profit and loss reserves
The profit and loss account includes all current and prior period retained profits and losses.
5
Parent company
The parent company is Ipswich Town Football Club Company Limited.
The consolidated accounts of Ipswich Town Football Club Limited, the smallest group for which consolidated accounts are currently drawn up, are available to the public and may be obtained from its registered office at Portman Road, Ipswich, IP1 2DA.