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Registration number: 10970490

I7 (Investments) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2022

 

I7 (Investments) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

I7 (Investments) Ltd

Company Information

Director

Miss Paige Sullivan

Registered office

Silver Rose Unit 21 East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

Accountants

Paul Winston Limited
Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

 

I7 (Investments) Ltd

(Registration number: 10970490)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

fixed assets

 

tangible assets

4

5,058

6,744

Investment property

5

235,000

235,000

 

240,058

241,744

Current assets

 

Cash at bank and in hand

 

10,562

11,295

Creditors: Amounts falling due within one year

6

(236,931)

(236,498)

Net current liabilities

 

(226,369)

(225,203)

Net assets

 

13,689

16,541

capital and reserves

 

Called up share capital

7

10,000

10,000

Revaluation reserve

16,318

16,318

Profit and loss account

(12,629)

(9,777)

Shareholders' funds

 

13,689

16,541

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 April 2024
 

.........................................
Miss Paige Sullivan
Director

 

I7 (Investments) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

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

The address of its registered office is:
Silver Rose Unit 21 East Lodge Village
East Lodge Lane
Enfield
EN2 8AS
England

These financial statements were authorised for issue by the director on 3 April 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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:

 

I7 (Investments) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Asset class

Depreciation method and rate

Motor vehicles

25% net book value

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2021 - 0).

 

I7 (Investments) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2022

15,990

15,990

At 31 December 2022

15,990

15,990

Depreciation

At 1 January 2022

9,246

9,246

Charge for the year

1,686

1,686

At 31 December 2022

10,932

10,932

Carrying amount

At 31 December 2022

5,058

5,058

At 31 December 2021

6,744

6,744

5

Investment properties

2022
£

At 1 January

235,000

At 31 December

235,000

There has been no valuation of investment property by an independent valuer.

 

I7 (Investments) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Other creditors

 

7,200

7,200

Directors' loan accounts

 

229,731

229,298

 

236,931

236,498

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary G of £0.01 each

1

-

1

-

Ordinary P of £0.01 each

999,999

10,000

999,999

10,000

 

1,000,000

10,000

1,000,000

10,000

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

16,318

16,318

9

Dividends