Company Registration No. 11402848 (England and Wales)
INSTAJET CLUB LTD
Unaudited accounts
for the year ended 30 June 2021
INSTAJET CLUB LTD
Unaudited accounts
Contents
INSTAJET CLUB LTD
Company Information
for the year ended 30 June 2021
Director
Mr Nicholas Davis
Company Number
11402848 (England and Wales)
Registered Office
71-75 SHELTON STREET
LONDON
GREATER LONDON
WC2H 9JQ
UNITED KINGDOM
INSTAJET CLUB LTD
Statement of financial position
as at 30 June 2021
Cash at bank and in hand
189,322
Creditors: amounts falling due within one year
(112,173)
Total assets less current liabilities
132,620
Creditors: amounts falling due after more than one year
(179,426)
Called up share capital
50,000
Profit and loss account
(119,339)
Shareholders' funds
(46,806)
For the year ending 30 June 2021 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 August 2022 and were signed on its behalf by
Mr Nicholas Davis
Director
Company Registration No. 11402848
INSTAJET CLUB LTD
Notes to the Accounts
for the year ended 30 June 2021
INSTAJET CLUB LTD is a private company, limited by shares, registered in England and Wales, registration number 11402848. The registered office is 71-75 SHELTON STREET, LONDON, GREATER LONDON, WC2H 9JQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Straight line
Computer equipment
25% Straight line
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2020
62,638
-
-
62,638
Additions
-
829
5,428
6,257
At 30 June 2021
62,638
829
5,428
68,895
Charge for the year
15,660
207
1,357
17,224
At 30 June 2021
15,660
207
1,357
17,224
At 30 June 2021
46,978
622
4,071
51,671
INSTAJET CLUB LTD
Notes to the Accounts
for the year ended 30 June 2021
5
Debtors: amounts falling due within one year
2021
6
Creditors: amounts falling due within one year
2021
7
Creditors: amounts falling due after more than one year
2021
Amounts owed to group undertakings and other participating interests
161,426
The above loans comprised 2 loans:
1. Family Loan totalling £161,426 is repayable by 01/12/2025. It is a compound interest loan agreement. If default, this loan shall be secured with the following property: 100% Share Capital of Instajet Club Ltd.
2. Bounce back loan totalling £18,000. The loan incurs 2.5% interest and repayable over 6 years.
8
Average number of employees
During the year the average number of employees was 1.