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REGISTERED NUMBER: 05809366 (England and Wales)









Financial Statements

for the Year Ended

30 September 2021

for

In:Style Apartments Limited

In:Style Apartments Limited (Registered number: 05809366)






Contents of the Financial Statements
for the Year Ended 30 September 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


In:Style Apartments Limited

Company Information
for the Year Ended 30 September 2021







DIRECTORS: Mrs A Mehra
V Mehra





SECRETARY: V Mehra





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 05809366 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

In:Style Apartments Limited (Registered number: 05809366)

Statement of Financial Position
30 September 2021

2021 2020
Notes £    £   
FIXED ASSETS
Investments 4 3,236,994 3,236,994
Investment property 5 1,190,080 1,190,080
4,427,074 4,427,074

CURRENT ASSETS
Debtors 6 13,775 13,775
Cash at bank 33,025 18,684
46,800 32,459
CREDITORS
Amounts falling due within one year 7 (3,606,725 ) (3,604,500 )
NET CURRENT LIABILITIES (3,559,925 ) (3,572,041 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

867,149

855,033

CREDITORS
Amounts falling due after more than one
year

8

(480,100

)

(489,500

)
NET ASSETS 387,049 365,533

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 387,029 365,513
SHAREHOLDERS' FUNDS 387,049 365,533

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 30 August 2022 and were signed on its behalf by:



V Mehra - Director


In:Style Apartments Limited (Registered number: 05809366)

Notes to the Financial Statements
for the Year Ended 30 September 2021

1. STATUTORY INFORMATION

In:Style Apartments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about In:Style Apartments Limited 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
Income comprises rent receivable from investment properties net of value added tax and is recognised on an accruals basis.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Investment property
Initial measurement
Investment properties are initially measured at cost.

Subsequent measurement
Investment properties are measured at fair value at each reporting date with changes in fair values recognised in profit or loss. No depreciation is provided in respect of investment properties.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

In:Style Apartments Limited (Registered number: 05809366)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2020
and 30 September 2021 3,236,994
NET BOOK VALUE
At 30 September 2021 3,236,994
At 30 September 2020 3,236,994

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2020
and 30 September 2021 1,190,080
NET BOOK VALUE
At 30 September 2021 1,190,080
At 30 September 2020 1,190,080

The investment properties were valued on a open market basis at the year end by the directors. Deferred tax has not been provided on the revaluation due to the availability of losses.

Fair value at 30 September 2021 is represented by:
£   
Valuation in 2018 169,813
Cost 1,020,267
1,190,080

If the investment properties had not been revalued they would have been included at the following historical cost:

2021 2020
£    £   
Cost 1,020,267 1,020,267

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 175 175
Other debtors 13,600 13,600
13,775 13,775

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 9,400 9,400
Amounts owed to group undertakings 3,567,000 3,567,000
Other creditors 22,887 22,888
Accruals & deferred income 7,438 5,212
3,606,725 3,604,500

In:Style Apartments Limited (Registered number: 05809366)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 480,100 489,500

Bank loans outstanding at the reporting date include instalments due after more than 5 years of £442,500 (2020: £451,900).

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 489,500 498,900

The bank loan is secured on the investment properties.

10. RETAINED EARNINGS

The retained earnings of £387,029 (2020: £365,513) comprise of distributable reserves of £217,216 (2020: £195,700) and non-distributable reserves of £169,813 (2020: £169,813) which relate to property revaluations less related deferred tax provision.