Inscape Commercial Properties UK Ltd 12504844 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is buying and selling of own real estate Digita Accounts Production Advanced 6.30.9574.0 true true true 12504844 2023-01-01 2023-12-31 12504844 2023-12-31 12504844 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 12504844 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 12504844 bus:SmallEntities 2023-01-01 2023-12-31 12504844 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12504844 bus:FilletedAccounts 2023-01-01 2023-12-31 12504844 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12504844 bus:RegisteredOffice 2023-01-01 2023-12-31 12504844 bus:Director1 2023-01-01 2023-12-31 12504844 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12504844 core:LandBuildings 2023-01-01 2023-12-31 12504844 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12504844 core:OtherRelatedParties 2023-01-01 2023-12-31 12504844 core:ParentEntities 2023-01-01 2023-12-31 12504844 1 2023-01-01 2023-12-31 12504844 countries:England 2023-01-01 2023-12-31 12504844 2022-12-31 12504844 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 12504844 2022-01-01 2022-12-31 12504844 2022-12-31 12504844 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 12504844 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 12504844

Inscape Commercial Properties UK Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Inscape Commercial Properties UK Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Inscape Commercial Properties UK Ltd

(Registration number: 12504844)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

223,201

228,036

Creditors: Amounts falling due within one year

5

(250,500)

(248,160)

Net liabilities

 

(27,299)

(20,124)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(27,300)

(20,125)

Shareholders' deficit

 

(27,299)

(20,124)

For the financial year ending 31 December 2023 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 his 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 9 August 2024
 

A Lateef
Director

   
     
 

Inscape Commercial Properties UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
One Glass Wharf
Bristol
BS2 0ZX

These financial statements were authorised for issue by the director on 9 August 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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The company meets its day to day working capital requirements through an inter company loan from its parent company which is repayable on demand. The director is satisfied that this financial support will continue and accordingly has prepared the financial statements on a going concern basis.

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:

Asset class

Depreciation method and rate

Land and buildings

2% straight line

 

Inscape Commercial Properties UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 1 (2022 - 1).

4

Tangible assets

Freehold land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

241,735

241,735

At 31 December 2023

241,735

241,735

Depreciation

At 1 January 2023

13,699

13,699

Charge for the year

4,835

4,835

At 31 December 2023

18,534

18,534

Carrying amount

At 31 December 2023

223,201

223,201

At 31 December 2022

228,036

228,036

Included within the net book value of land and buildings above is £223,201 (2022 - £228,036) in respect of freehold land and buildings.
 

 

Inscape Commercial Properties UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Creditors

Due within one year

Note

2023
£

2022
£

 

Trade creditors

 

-

2,150

Amounts due to related parties

6

248,220

243,880

Accruals

 

2,280

2,130

 

250,500

248,160

6

Related party transactions

Summary of transactions with parent

Inscape Commercial Properties LLC (Parent company)
 At the balance sheet date, the amount due to Inscape Commercial Properties LLC was £241,734 (2022 - £241,734)
 

Summary of transactions with other related parties

RAJE Technology Group LLC (Related company)
 At the balance sheet date, the amount due to RAJE Technology Group LLC was £6,486 (2022 - £2,146)
 

7

Parent and ultimate parent undertaking

The company's immediate parent is Inscape Commercial Properties LLC, incorporated in United States of America.

  These financial statements are available upon request from Inscape Commercial Properties LLC, 10050 16th Street North, St. Petersburg, FL 33716.