Instalrite Properties Ltd 9211439 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is the letting of commercial property. Digita Accounts Production Advanced 6.30.9574.0 true 9211439 2022-10-01 2023-09-30 9211439 2023-09-30 9211439 bus:OrdinaryShareClass1 2023-09-30 9211439 core:CurrentFinancialInstruments 2023-09-30 9211439 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 9211439 core:Non-currentFinancialInstruments 2023-09-30 9211439 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 9211439 core:LandBuildings 2023-09-30 9211439 bus:SmallEntities 2022-10-01 2023-09-30 9211439 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 9211439 bus:FullAccounts 2022-10-01 2023-09-30 9211439 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 9211439 bus:Director1 2022-10-01 2023-09-30 9211439 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 9211439 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 9211439 core:Buildings 2022-10-01 2023-09-30 9211439 countries:AllCountries 2022-10-01 2023-09-30 9211439 2022-09-30 9211439 core:LandBuildings 2022-09-30 9211439 2021-10-01 2022-09-30 9211439 2022-09-30 9211439 bus:OrdinaryShareClass1 2022-09-30 9211439 core:CurrentFinancialInstruments 2022-09-30 9211439 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 9211439 core:Non-currentFinancialInstruments 2022-09-30 9211439 core:Non-currentFinancialInstruments core:AfterOneYear 2022-09-30 9211439 core:LandBuildings 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Instalrite Properties Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

Registration number: 9211439

 

Instalrite Properties Ltd

Contents

Statement of financial position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Instalrite Properties Ltd

(Registration number: 9211439)
Statement of financial position as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

629,340

629,340

Current assets

 

Debtors

5

72,006

78,007

Cash at bank and in hand

 

555

3,020

 

72,561

81,027

Creditors: Amounts falling due within one year

6

(92,818)

(77,501)

Net current (liabilities)/assets

 

(20,257)

3,526

Total assets less current liabilities

 

609,083

632,866

Creditors: Amounts falling due after more than one year

6

(498,409)

(539,919)

Net assets

 

110,674

92,947

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

110,574

92,847

Shareholders' funds

 

110,674

92,947

For the financial year ending 30 September 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.

 

Instalrite Properties Ltd

(Registration number: 9211439)
Statement of financial position as at 30 September 2023

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.

Approved and authorised by the Board on 20 November 2023 and signed on its behalf by:
 

.........................................
Mr S Papworth
Director

 

Instalrite Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

These financial statements were authorised for issue by the Board on 20 November 2023.

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 the fair value of the consideration received or receivable for the 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 current 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.

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

Freehold Property

Not depreciated but subject to impairment review by directors

 

Instalrite Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

Instalrite Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 October 2022

629,340

629,340

At 30 September 2023

629,340

629,340

Depreciation

Carrying amount

At 30 September 2023

629,340

629,340

At 30 September 2022

629,340

629,340

5

Debtors

Current

2023
£

2022
£

Other debtors

72,006

78,007

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

73,512

65,154

Taxation and social security

 

11,840

11,772

Accruals and deferred income

 

575

575

Other creditors

 

6,891

-

 

92,818

77,501

 

Instalrite Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

498,409

539,919

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

465,783

502,697

Other borrowings

32,626

37,222

498,409

539,919

2023
£

2022
£

Current loans and borrowings

Bank borrowings

67,998

58,721

Other borrowings

5,514

6,433

73,512

65,154