IPlace Global Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06240302 (England and Wales)

Iplace Global Ltd

Unaudited Financial Statements

for the Year Ended 30th November 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

Mr S J Bath

Mr R J Darvill

Registered office:

4 Old Park Lane

London

W1K 1QW

Registered number:

06240302 (England and Wales)

Accountants:

Wilson Stevens

Accountants

4th Floor

100 Fenchurch Street

London

EC3M 5JD

Fixed assets

Intangible assets

4

37,032

74,064

Tangible assets

5

320,469

254,034

Investments

6

244,664

244,664

602,165

572,762

Current assets

Debtors

7

1,710,693

1,369,004

Cash at bank

1,302,281

898,262

3,012,974

2,267,266

Creditors

Amounts falling due within one year

8

1,281,792

1,303,256

Net current assets

1,731,182

964,010

Total assets less current liabilities

2,333,347

1,536,772

Creditors

Amounts falling due after more than one year

9

(27,442

)

(37,271

)

Provisions for liabilities

(2,795

)

(1,311

)

Net assets

2,303,110

1,498,190

Capital and reserves

Called up share capital

500

500

Retained earnings

2,302,610

1,497,690

2,303,110

1,498,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd August 2023 and were signed on its behalf by:

Mr R J Darvill - Director

1.	Statutory information

Iplace Global 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.

Preparation of consolidated financial statements

The financial statements contain information about Iplace Global Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

33% straight line

Website development

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 27 (2021 - 26 ) .

4.	Intangible fixed assets

Other

intangible

Goodwill

assets

Totals

£

£

£

Cost

At 1st December 2021

and 30th November 2022

86,000

85,296

171,296

Amortisation

At 1st December 2021

68,800

28,432

97,232

Charge for year

8,600

28,432

37,032

At 30th November 2022

77,400

56,864

134,264

Net book value

At 30th November 2022

8,600

28,432

37,032

At 30th November 2021

17,200

56,864

74,064

5.	Tangible fixed assets

Fixtures

and

Website

fittings

development

Totals

£

£

£

Cost

At 1st December 2021

29,357

334,128

363,485

Additions

12,319

116,739

129,058

Disposals

(4,917

)

-

(4,917

)

At 30th November 2022

36,759

450,867

487,626

Depreciation

At 1st December 2021

22,459

86,992

109,451

Charge for year

8,036

54,587

62,623

Eliminated on disposal

(4,917

)

-

(4,917

)

At 30th November 2022

25,578

141,579

167,157

Net book value

At 30th November 2022

11,181

309,288

320,469

At 30th November 2021

6,898

247,136

254,034

6.	Fixed asset investments

Other

investment

£

Cost

At 1st December 2021

and 30th November 2022

244,664

Net book value

At 30th November 2022

244,664

At 30th November 2021

244,664

7.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

950,317

1,039,579

Amounts owed by group undertakings

746,115

324,538

Other debtors

14,261

4,887

1,710,693

1,369,004

8.

Creditors: amounts falling due within one year

2022

2021

£

£

Bank loans and overdrafts

9,829

9,586

Trade creditors

34,166

224,054

Amounts owed to group undertakings

50,000

50,000

Taxation and social security

484,363

386,987

Other creditors

703,434

632,629

1,281,792

1,303,256

9.

Creditors: amounts falling due after more than one year

2022

2021

£

£

Bank loans

27,442

37,271

10.	Ultimate controlling party

The company's ultimate holding company is Home Mover Holdings Limited, a company registered in England and Wales.