The Imperial Property Co (Liverpool) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02808937 (England and Wales)

Financial Statements for the Year Ended 30 April 2019

for

The Imperial Property Company

(Liverpool) Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

D M Mahoney

E Mahoney

A T Worthington

SECRETARY:

E Mahoney

REGISTERED OFFICE:

1 Derby Buildings

Wavertree Road

Liverpool

Merseyside

L7 3ES

REGISTERED NUMBER:

02808937 (England and Wales)

ACCOUNTANTS:

Kinsella Clarke Limited

61 Stanley Road

Bootle

Merseyside

L20 7BZ

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of The Imperial Property Company (Liverpool) Limited for the year ended 30 April 2019 which

comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Imperial Property Company (Liverpool) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Imperial Property Company (Liverpool) Limited and state those matters that we have agreed to state to the Board of Directors of The Imperial Property Company (Liverpool) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Imperial Property Company (Liverpool) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Imperial Property Company (Liverpool) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Imperial Property Company (Liverpool) Limited. You consider that The Imperial Property Company (Liverpool) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Imperial Property Company (Liverpool) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kinsella Clarke Limited

61 Stanley Road

Bootle

Merseyside

L20 7BZ

28 January 2020

FIXED ASSETS

Tangible assets

4

11,086,984

11,088,379

CURRENT ASSETS

Debtors

5

694,350

816,291

Cash at bank

321,513

249,260

1,015,863

1,065,551

CREDITORS

Amounts falling due within one year

6

1,224,075

1,441,220

NET CURRENT LIABILITIES

(208,212

)

(375,669

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,878,772

10,712,710

CREDITORS

Amounts falling due after more than one year

7

(1,996,734

)

(1,883,419

)

PROVISIONS FOR LIABILITIES

(694,060

)

(668,771

)

NET ASSETS

8,187,978

8,160,520

CAPITAL AND RESERVES

Called up share capital

1,400

1,400

Share premium

149,998

149,998

Fair value reserve

6,099,121

6,099,121

Retained earnings

1,937,459

1,910,001

SHAREHOLDERS' FUNDS

8,187,978

8,160,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 on 28 January 2020 and were signed on its behalf by:

D M Mahoney - Director

1.	STATUTORY INFORMATION

The Imperial Property Company (Liverpool) 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

In line with accounting standards for investment companies, no depreciation has been charged on land and

buildings.

Depreciation has been provided on other tangible assets at the following rates in order to write off each asset

over it's estimated useful life:-

Plant and machinery etc - 15% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 May 2018

and 30 April 2019

11,079,080

62,735

11,141,815

DEPRECIATION

At 1 May 2018

-

53,436

53,436

Charge for year

-

1,395

1,395

At 30 April 2019

-

54,831

54,831

NET BOOK VALUE

At 30 April 2019

11,079,080

7,904

11,086,984

At 30 April 2018

11,079,080

9,299

11,088,379

Cost or valuation at 30 April 2019 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2000

2,602,088

-

2,602,088

Valuation in 2007

3,665,000

-

3,665,000

Valuation in 2011

(2,971,247

)

-

(2,971,247

)

Cost

7,783,239

62,735

7,845,974

11,079,080

62,735

11,141,815

Freehold Property was valued on the realisation basis on 30 April 2017 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade debtors

9,194

3,879

Other debtors

685,156

812,412

694,350

816,291

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Bank loans and overdrafts

140,281

399,286

Trade creditors

12,829

51,891

Taxation and social security

104,543

177,371

Other creditors

966,422

812,672

1,224,075

1,441,220

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.19

30.4.18

£

£

Bank loans

1,002,843

944,978

Other creditors

993,891

938,441

1,996,734

1,883,419

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.19

30.4.18

£

£

Bank loans

1,143,124

1,344,264

Legal charge over Imperial Chambers, 58-64 Dale Street, Liverpool in favour of National Westminster Bank Plc,

dated 7 May 2010 .

Legal charge over Rigby's Building, 21 Dale Street, Liverpool in favour of National Westminster Bank Plc.

Legal charge over Ye Hole in Ye Wall, 4 Hackins Hey, Liverpool in favour of National Westminster Bank Plc.

Legal charge over Ashton Chambers, 8 Hackins Hey, Liverpool in favour of National Westminster Bank Plc.

Legal charge over Hope Chambers, 5 Leather Lane, Liverpool in favour of National Westminster Bank Plc.

Legal charge over The Former Police Station, Lawson Street, Preston in favour of National Westminster Bank

Plc, dated 24 August 2011.

Debenture dated 19 April 2011 held in favour of National Westminster Bank Plc.

9.	RELATED PARTY DISCLOSURES

The company continues to operate a 5 year lease to Imperial Property Management Company 2011 Limited, a

wholly owned subsidiary of the company, in respect of a property held at Lawson Halls, Preston.

In the year the company received rents of Nil (2018: £400,000) in respect of this lease.The transactions were

made at an arms length basis.

During the year the company incurred costs to Copelare Limited for management services of £135,619(2018:

£162,269) a company in which Mr E Mahoney has a material interest in.