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Registered Number: 12141824
England and Wales

 

 

 


Report of the Director and Unaudited Financial Statements

for the year ended 31 August 2023

for

INDY INVESTMENTS LTD

 
 
 
£
2023
£
   
£
2022
£
Fixed assets 964,000  260,000 
Current assets 1,020  529 
Creditors: amount falling due within one year (72,493) (70,140)
Net current assets (71,473) (69,611)
Total assets less current liabilities 892,527  190,389 
Creditors: amount falling due after more than one year (918,253) (200,850)
Net assets (25,726) (10,461)
 
Capital and reserves (25,726) (10,461)
 
  1. For the year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
  2. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies act 2006.
  3. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the board of directors:


----------------------------------
Bhavani Indrakumar
Director

Date approved: 12 November 2023
1
Statutory Information
INDY INVESTMENTS LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 12141824, registration address 31 Portland Avenue, New Malden, KT3 6AY, United Kingdom.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Investment properties
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2.

Financial assets

Cost or Valuation Investment in property   Total
  £   £
At 01 September 2022 260,000    260,000 
Additions 704,000    704,000 
Disposals  
At 31 August 2023 964,000    964,000 
3.

Average number of employees

Average number of employees during the year was 0  (2022: 2).
2