I & S Properties Limited 03392966 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is developing and renting commercial and residential properties. Digita Accounts Production Advanced 6.30.9574.0 true 03392966 2022-07-01 2023-06-30 03392966 2023-06-30 03392966 core:RetainedEarningsAccumulatedLosses 2023-06-30 03392966 core:ShareCapital 2023-06-30 03392966 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 03392966 core:OtherPropertyPlantEquipment 2023-06-30 03392966 bus:SmallEntities 2022-07-01 2023-06-30 03392966 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 03392966 bus:FullAccounts 2022-07-01 2023-06-30 03392966 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 03392966 bus:RegisteredOffice 2022-07-01 2023-06-30 03392966 bus:Director2 2022-07-01 2023-06-30 03392966 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 03392966 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 03392966 core:PlantMachinery 2022-07-01 2023-06-30 03392966 countries:England 2022-07-01 2023-06-30 03392966 2022-06-30 03392966 2021-07-01 2022-06-30 03392966 2022-06-30 03392966 core:RetainedEarningsAccumulatedLosses 2022-06-30 03392966 core:ShareCapital 2022-06-30 03392966 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 03392966

I & S Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

I & S Properties Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

I & S Properties Limited

Balance Sheet

as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

16,088

-

Investment properties

5

4,377,500

4,377,500

 

4,393,588

4,377,500

Current assets

 

Stocks

193,641

190,041

Debtors

6

2,854

1,640

Cash at bank and in hand

 

420,972

356,918

 

617,467

548,599

Creditors: Amounts falling due within one year

7

(307,637)

(425,075)

Net current assets

 

309,830

123,524

Total assets less current liabilities

 

4,703,418

4,501,024

Provisions for liabilities

(288,647)

(285,092)

Net assets

 

4,414,771

4,215,932

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

4,414,671

4,215,832

Shareholders' funds

 

4,414,771

4,215,932

Registration number: 03392966

 

I & S Properties Limited

Balance Sheet

as at 30 June 2023 (continued)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 November 2023 and signed on its behalf by:
 

.........................................
Mr G Ingham
Director

 

I & S Properties Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 June 2023

1

General information

The company is a private company limited by shares incorporated in England within the United Kingdom.

The company's registration number is 03392966.

The address of its registered office is:
609a Denby Dale Road
Calder Grove
Wakefield
West Yorkshire
WF4 3DJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises of rent receivable and insurance recharges.





 

 

I & S Properties Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% per annum on a reducing balance basis
 

Investment properties

Investment properties are carried at fair value with any surplus or deficit recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

 

I & S Properties Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 June 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2022 - 4).

4

Tangible assets

Plant and machinery
 £

Total
£

Cost

Additions

18,000

18,000

At 30 June 2023

18,000

18,000

Depreciation

Charge for the year

1,912

1,912

At 30 June 2023

1,912

1,912

Net book value

At 30 June 2023

16,088

16,088

5

Investment properties

     

2023
£

2022
£

At 1 July

4,377,500

4,377,500

Additions

1,870

-

Fair value adjustments

(1,870)

-

At 30 June

4,377,500

4,377,500

The investment properties have been valued by the directors at open market value.

 

I & S Properties Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 June 2023 (continued)

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,000

-

Prepayments

1,854

1,640

 

2,854

1,640

7

Creditors

2023
£

2022
£

Due within one year

Directors loan accounts

251,268

371,384

Taxation and social security

960

887

Accruals and deferred income

5,136

4,818

Corporation tax

50,273

47,986

307,637

425,075