BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is that of letting and operating of own real estate. 22 April 2024 11732798 2023-12-31 11732798 2022-12-31 11732798 2021-12-31 11732798 2023-01-01 2023-12-31 11732798 2022-01-01 2022-12-31 11732798 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11732798 uk-curr:PoundSterling 2023-01-01 2023-12-31 11732798 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11732798 uk-bus:FullAccounts 2023-01-01 2023-12-31 11732798 uk-bus:Director1 2023-01-01 2023-12-31 11732798 uk-bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 11732798 uk-bus:CompanySecretary1 2023-01-01 2023-12-31 11732798 uk-bus:RegisteredOffice 2023-01-01 2023-12-31 11732798 uk-bus:Agent1 2023-01-01 2023-12-31 11732798 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11732798 uk-core:ShareCapital 2023-12-31 11732798 uk-core:ShareCapital 2022-12-31 11732798 uk-core:OtherReservesSubtotal 2023-12-31 11732798 uk-core:OtherReservesSubtotal 2022-12-31 11732798 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 11732798 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 11732798 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 11732798 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 11732798 uk-bus:FRS102 2023-01-01 2023-12-31 11732798 uk-core:CurrentFinancialInstruments 2023-12-31 11732798 uk-core:CurrentFinancialInstruments 2022-12-31 11732798 uk-core:WithinOneYear 2023-12-31 11732798 uk-core:WithinOneYear 2022-12-31 11732798 uk-core:EmployeeBenefits 2022-12-31 11732798 uk-core:EmployeeBenefits 2023-01-01 2023-12-31 11732798 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 11732798 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 11732798 uk-core:OtherDeferredTax 2023-12-31 11732798 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 11732798 uk-core:EmployeeBenefits 2023-12-31 11732798 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 11732798
 
 
Irwell Office Company Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2023



Irwell Office Company Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Karl Kinsella
Leonard Kinsella
 
 
Company Secretary Leonard Kinsella
 
 
Company Registration Number 11732798
 
 
Registered Office and Business Address Flat 19
3 Dale Street
Manchester
M1 1BA
England
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
BT1 1PG
United Kingdom
 
 
Bankers Barclays Bank PLC
  Leicester
  Leicestershire
  LE87 2BB
  United Kingdom



Irwell Office Company Ltd

CHARTERED ACCOUNTANTS' REPORT
to the Board of Directors on the Compilation of the unaudited financial statements of Irwell Office Company Ltd
for the financial year ended 31 December 2023
 
In accordance with our engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 December 2023 as set out on pages  to 13 which comprise , the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the Board of Directors of Irwell Office Company Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the balance sheet for the year ended 31 December 2023 your duty to ensure that Irwell Office Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Irwell Office Company Ltd. You consider that Irwell Office Company Ltd is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Irwell Office Company Ltd. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
BT1 1PG
United Kingdom
 
22 April 2024



Irwell Office Company Ltd
Company Registration Number: 11732798
STATEMENT OF FINANCIAL POSITION
as at 31 December 2023

2023 2022
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 - 1,000,000
───────── ─────────
 
Current Assets
Receivables 5 302,493 12,218
Cash and cash equivalents 17,575 72,386
───────── ─────────
320,068 84,604
───────── ─────────
Payables: amounts falling due within one year 6 (76,992) (641,110)
───────── ─────────
Net Current Assets/(Liabilities) 243,076 (556,506)
───────── ─────────
Total Assets less Current Liabilities 243,076 443,494
 
Provisions for liabilities 8 - (76,464)
───────── ─────────
Net Assets 243,076 367,030
═════════ ═════════
 
Equity
Called up share capital 100 100
Other reserves - 325,980
Retained earnings 242,976 40,950
───────── ─────────
Equity attributable to owners of the company 243,076 367,030
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.
           
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Board and authorised for issue on 22 April 2024 and signed on its behalf by
           
           
________________________________          
Karl Kinsella          
Director          
           
           
________________________________
Leonard Kinsella
Director
           



Irwell Office Company Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Irwell Office Company Ltd is a company limited by shares incorporated and registered in the England. The registered number of the company is 11732798. The registered office of the company is Flat 19, 3 Dale Street, Manchester, M1 1BA, England which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Revenue comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Income Statement as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Income Statement.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 2, (2022 - 2).
 
  2023 2022
  Number Number
 
Directors 2 2
  ───────── ─────────
  2 2
  ═════════ ═════════
       
4. Property, plant and equipment
  Investment Total
  properties  
     
  £ £
Cost or Valuation
At 1 January 2023 1,000,000 1,000,000
Disposals (850,000) (850,000)
Revaluation (150,000) (150,000)
  ───────── ─────────
At 31 December 2023 - -
  ───────── ─────────
Depreciation
At 1 January 2023 - -
  ───────── ─────────
At 31 December 2023 - -
  ───────── ─────────
Carrying amount
At 31 December 2023 - -
  ═════════ ═════════
At 31 December 2022 1,000,000 1,000,000
  ═════════ ═════════
       
5. Receivables 2023 2022
  £ £
 
Trade receivables - 9,448
Amounts owed by connected parties (Note 10) 300,000 -
Taxation  (Note 7) 2,493 -
Prepayments and accrued income:
Pension prepayment - 38
Other prepayments - 2,732
  ───────── ─────────
  302,493 12,218
  ═════════ ═════════
       
6. Payables 2023 2022
Amounts falling due within one year £ £
 
Trade payables 1,410 4,045
Taxation  (Note 7) 62,131 12,054
Directors' current accounts 10,951 610,951
Other creditors - 12,810
Accruals 2,500 1,250
  ───────── ─────────
  76,992 641,110
  ═════════ ═════════
       
7. Taxation 2023 2022
  £ £
 
Receivables:
VAT 2,493 -
  ═════════ ═════════
Payables:
VAT - 2,617
Corporation tax 62,131 9,437
  ───────── ─────────
  62,131 12,054
  ═════════ ═════════
         
8. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Property Total Total
  revaluations    
       
    2023 2022
  £ £ £
 
At financial year start 76,464 76,464 76,464
Charged to profit and loss (76,464) (76,464) -
  ───────── ───────── ─────────
At financial year end - - 76,464
  ═════════ ═════════ ═════════
       
9. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
           
10. Related party transactions
  Balance Movement Balance Maximum
  2023 in year 2022 in year
  £ £ £ £
 
Kinnua Limited 300,000 300,000 - 300,000
 
Leonard Kinsella and Karl Kinsella are shareholders and directors of Kinnua Limited. As at 1 January
2023, Kinnua Limited owed £nil to Irwell Office Company Ltd. During the financial year there were net
transactions of £300,000, and as at 31 December 2023 Kinnua Limited owed £300,000 to Irwell Office Company Ltd.
This balance is included in Amounts owed by connected parties.
   
11. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.
       
12. Changes in Equity
 
Other Comprehensive Income 2023 2022
  £ £
 
Investment property revaluation in year (325,980) -
  ═════════ ═════════