Registration number:
Integra Real Estate Ltd
for the Year Ended 30 June 2023
Integra Real Estate Ltd
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Integra Real Estate Ltd
(Registration number: SC208033)
Statement of Financial Position as at 30 June 2023
Note |
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2022 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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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:
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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. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.
Integra Real Estate Ltd
(Registration number: SC208033)
Statement of Financial Position as at 30 June 2023
Approved and authorised by the
Company secretary and director
Integra Real Estate Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
General information |
The Company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
Scotland
The principal place of business is:
124 William Fitzgerald Way
Dundee
DD4 9FB
Scotland
Accounting policies |
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Tax
The tax expense for the period comprises 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.
Integra Real Estate Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
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 |
Fixtures & Fittings |
15% reducing balance |
Equipment |
25% reducing balance |
Investment property
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Integra Real Estate Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Total |
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Cost or valuation |
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At 1 July 2022 |
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At 30 June 2023 |
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Depreciation |
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At 1 July 2022 |
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- |
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Charge for the year |
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- |
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At 30 June 2023 |
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- |
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Carrying amount |
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At 30 June 2023 |
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At 30 June 2022 |
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Investment properties |
2023 |
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At 1 July |
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Additions |
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Disposals |
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Fair value adjustments |
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At 30 June |
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The last valuation of the properties was carried out in May 2023 and the Directors are of the opinion that they are stated at fair value in these accounts.
Integra Real Estate Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Debtors |
Current |
2023 |
2022 |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Reserves |
2023 |
2022 |
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£ |
£ |
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Profit and loss account - Distributable |
(11,325) |
(25,965) |
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Revaluation of investment properties - Undistributable |
53,444 |
38,444 |
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Deferred tax on investment properties - Undistributable |
(2,850) |
(2,629) |
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39,269 |
9,850 |