Company Registration No. 5245249 (England and Wales)
In Estates Limited
Unaudited accounts
for the year ended 31 March 2023
In Estates Limited
Unaudited accounts
Contents
In Estates Limited
Company Information
for the year ended 31 March 2023
Directors
Mr Qazafi Raza
Mr Omar S Ashiq
Mr Osman Khaliq
Company Number
5245249 (England and Wales)
Registered Office
52-54 Church Lane
Leytonstone
London
E11 1HE
United Kingdom
In Estates Limited
Statement of financial position
as at 31 March 2023
Tangible assets
13,881
17,654
Cash at bank and in hand
50,313
25,735
Creditors: amounts falling due within one year
(26,097)
(35,624)
Net current assets
26,954
5,978
Called up share capital
150
150
Profit and loss account
40,685
23,482
Shareholders' funds
40,835
23,632
For the year ending 31 March 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by
Mr Qazafi Raza
Director
Company Registration No. 5245249
In Estates Limited
Notes to the Accounts
for the year ended 31 March 2023
In Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 5245249. The registered office is 52-54 Church Lane, Leytonstone, London, E11 1HE, 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 remained unchanged from the previous year, and also 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:
Fixtures & fittings
20% on costs
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Expenditure on research and development is written off in the year in which it is incurred.
In Estates Limited
Notes to the Accounts
for the year ended 31 March 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Tangible fixed assets
Fixtures & fittings
Amounts falling due within one year
Accrued income and prepayments
2,738
2,719
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
6,551
2,551
Loans from directors
8,461
10,124
Allotted, called up and fully paid:
150 Ordinary shares of £1 each
150
150
In Estates Limited
Notes to the Accounts
for the year ended 31 March 2023
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Transactions with related parties
Included in other creditors is the amount of £3,302 (2022: £10,124) owed by the company to Mr Q Raza.
Also included in other creditors due within a year are the amounts of £2,578 (2022: n/a) and £2,581 (2022: n/a) owed Mr O Ashiq and Mr O Khaliq respectively.
During the period interim dividends of £2,000 were paid to each director.
As such there is no single controlling party and all directors are regarded as the controlling parties by virtue of acting in concert in respect of the operations of the company.
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Average number of employees
During the year the average number of employees was 5 (2022: 5).