Caseware UK (AP4) 2022.0.179 2022.0.179 2022-01-312022-01-31truefalse2021-02-01Operating a hotel and residential property management.66trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03302617 2021-02-01 2022-01-31 03302617 2020-02-01 2021-01-31 03302617 2022-01-31 03302617 2021-01-31 03302617 c:Director1 2021-02-01 2022-01-31 03302617 d:MotorVehicles 2021-02-01 2022-01-31 03302617 d:MotorVehicles 2022-01-31 03302617 d:MotorVehicles 2021-01-31 03302617 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-02-01 2022-01-31 03302617 d:FurnitureFittings 2021-02-01 2022-01-31 03302617 d:FurnitureFittings 2022-01-31 03302617 d:FurnitureFittings 2021-01-31 03302617 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-02-01 2022-01-31 03302617 d:OwnedOrFreeholdAssets 2021-02-01 2022-01-31 03302617 d:CurrentFinancialInstruments 2022-01-31 03302617 d:CurrentFinancialInstruments 2021-01-31 03302617 d:Non-currentFinancialInstruments 2022-01-31 03302617 d:Non-currentFinancialInstruments 2021-01-31 03302617 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 03302617 d:CurrentFinancialInstruments d:WithinOneYear 2021-01-31 03302617 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 03302617 d:Non-currentFinancialInstruments d:AfterOneYear 2021-01-31 03302617 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-01-31 03302617 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-01-31 03302617 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 03302617 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-01-31 03302617 d:ShareCapital 2022-01-31 03302617 d:ShareCapital 2021-01-31 03302617 d:RetainedEarningsAccumulatedLosses 2022-01-31 03302617 d:RetainedEarningsAccumulatedLosses 2021-01-31 03302617 c:FRS102 2021-02-01 2022-01-31 03302617 c:AuditExempt-NoAccountantsReport 2021-02-01 2022-01-31 03302617 c:FullAccounts 2021-02-01 2022-01-31 03302617 c:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 03302617 d:WithinOneYear 2022-01-31 03302617 d:WithinOneYear 2021-01-31 03302617 d:BetweenOneFiveYears 2022-01-31 03302617 d:BetweenOneFiveYears 2021-01-31 03302617 d:MoreThanFiveYears 2022-01-31 03302617 d:MoreThanFiveYears 2021-01-31 03302617 2 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure

Registered number: 03302617










INTRODELL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2022

 
INTRODELL LIMITED
 

CONTENTS



Page
Balance sheet
1
Notes to the financial statements
2 - 8

 
INTRODELL LIMITED
REGISTERED NUMBER: 03302617

BALANCE SHEET
AS AT 31 JANUARY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,087
8,507

Current assets
  

Debtors: amounts falling due within one year
 5 
85,317
118,920

Cash at bank and in hand
 6 
213,103
106,887

  
298,420
225,807

Creditors: amounts falling due within one year
 7 
(210,777)
(158,472)

Net current assets
  
 
 
87,643
 
 
67,335

Total assets less current liabilities
  
96,730
75,842

Creditors: amounts falling due after more than one year
 8 
(42,500)
-

  

Net assets
  
54,230
75,842


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
54,228
75,840

  
54,230
75,842


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements 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 Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 November 2023.

F Hmood
Director

The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
INTRODELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1.


General information

Introdell Limited is a private company limited by share capital, incorporated in England and Wales, registration number 03302617. The address of the registered office is 14th Floor, 33 Cavendish Square, London W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directorship acknowledges the impact Covid-19 has affected the business negatively, as national lockdowns imposed by the UK government in the year, have resulted in lost revenues for the company. The director has responded by reducing some overhead costs. The director understands it is difficult to predict the future of the impact of the pandemic on the company due to an uncertainty of when the business is able to return to normality. The director is hoping that, once more normal trading conditions resume, the company will continue as going concern for at least 12 months from the date of approval of the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Turnover represents hotel room rental, along with ancillary income, and property management fees,
exclusive of Value Added Tax and trade discounts, relating to the year.

Page 2

 
INTRODELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
INTRODELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Page 4

 
INTRODELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
INTRODELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2021 - 6).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 February 2021
-
40,660
40,660


Additions
3,250
359
3,609



At 31 January 2022

3,250
41,019
44,269



Depreciation


At 1 February 2021
-
32,153
32,153


Charge for the year on owned assets
813
2,216
3,029



At 31 January 2022

813
34,369
35,182



Net book value



At 31 January 2022
2,437
6,650
9,087



At 31 January 2021
-
8,507
8,507

Page 6

 
INTRODELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

5.


Debtors

2022
2021
£
£


Other debtors
84,860
118,341

Prepayments and accrued income
457
579

85,317
118,920



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
213,103
106,887



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
7,500
-

Trade creditors
59,350
36,357

Corporation tax
29,559
15,000

Other taxation and social security
30,419
32,173

Other creditors
63,595
60,831

Accruals and deferred income
20,354
14,111

210,777
158,472



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
42,500
-


Page 7

 
INTRODELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
7,500
-

Amounts falling due 1-2 years

Bank loans
10,000
-

Amounts falling due 2-5 years

Bank loans
32,500
-

50,000
-



10.


Commitments under operating leases

At 31 January 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£


Not later than 1 year
175,000
175,000

Later than 1 year and not later than 5 years
700,000
700,000

Later than 5 years
169,167
344,167

1,044,167
1,219,167


11.


Related party transactions

Included in other debtors is a balance of £16,177 (2021: £77,287) due from Mr. F Hmood, the
company's director.

 
Page 8