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Registered Number: 07825417
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 January 2024

for

IDLESTONE PROPERTIES (MERROW) LIMITED

As described on the balance sheet, you are responsible for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of the financial statements set out on pages six to eleven.
In accordance with your instructions, I have prepared the accounts from the accounting records of the company and on the basis of information and explanations you have given to me.
I have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 


J A Cini
Woking
Surrey
GU23 6JH
01 March 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 2,610,146    2,562,350 
2,610,146    2,562,350 
Current assets      
Debtors 5,529    57,648 
Cash at bank and in hand 83,878    150,090 
89,407    207,738 
Creditors: amount falling due within one year (74,261)   (24,368)
Net current assets 15,146    183,370 
 
Total assets less current liabilities 2,625,292    2,745,720 
Provisions for liabilities (388,000)   (388,000)
Net assets 2,237,292    2,357,720 
 

Capital and reserves
     
Called up share capital 101    101 
Share premium account 2,116,871    2,116,871 
Profit and loss account 120,320    240,748 
Shareholder's funds 2,237,292    2,357,720 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 01 March 2024 and were signed on its behalf by:


-------------------------------
J S Pollard
Director
2
General Information
Idlestone Properties (Merrow) Limited is a private company, limited by shares, registered in England and Wales, registration number 07825417, registration address 6 Birnam Close, Ripley, Woking, GU23 6JH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Basis of preparation
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including the provisions of section 1A "Small Entities" and the Companies Act 2006.
The financial statements have been prepared on the going concern basis and under the historical cost convention as amended by the revaluation of investment properties.

Turnover
Turnover represents rents received from investment properties during the period excluding value added tax.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 10% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Investment properties   Total
  £   £   £
At 01 February 2023 2,048    2,562,000    2,564,048 
Additions   48,000    48,000 
Disposals    
At 31 January 2024 2,048    2,610,000    2,612,048 
Depreciation
At 01 February 2023 1,698      1,698 
Charge for year 204      204 
On disposals    
At 31 January 2024 1,902      1,902 
Net book values
Closing balance as at 31 January 2024 146    2,610,000    2,610,146 
Opening balance as at 01 February 2023 350    2,562,000    2,562,350 


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