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REGISTERED NUMBER: 11113501 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 November 2023

for

Ishaun Estates Limited

Ishaun Estates Limited (Registered number: 11113501)






Contents of the Financial Statements
For The Year Ended 30 November 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Ishaun Estates Limited

Company Information
For The Year Ended 30 November 2023







DIRECTOR: S J Desai





REGISTERED OFFICE: Unit 1 Rooks Corner,
Roxeth Green Avenue
South Harrow
Middlesex
HA2 0GP





REGISTERED NUMBER: 11113501 (England and Wales)





ACCOUNTANTS: Euro Ashfords LLP
First Floor Ashford House
100 College Road
Harrow
Middlesex
HA1 1BQ

Ishaun Estates Limited (Registered number: 11113501)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,350,000 1,350,000

CURRENT ASSETS
Debtors 5 11,990 7,450
Cash at bank 60 94
12,050 7,544
CREDITORS
Amounts falling due within one year 6 332,021 343,697
NET CURRENT LIABILITIES (319,971 ) (336,153 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,030,029

1,013,847

CREDITORS
Amounts falling due after more than one
year

7

(371,948

)

(372,686

)

PROVISIONS FOR LIABILITIES (104,082 ) (104,082 )
NET ASSETS 553,999 537,079

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 443,717 443,717
Retained earnings 110,182 93,262
553,999 537,079

Ishaun Estates Limited (Registered number: 11113501)

Balance Sheet - continued
30 November 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The 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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 August 2024 and were signed by:





S J Desai - Director


Ishaun Estates Limited (Registered number: 11113501)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

Ishaun Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 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 under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit and loss in the period in which they arise.

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. No depreciation is provided on investment properties as a result of FRS 102 section 16, this represents a departure from the requirements of the Companies Act.

In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure consumption and to depreciate them would not give a true and fair view.

However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separated or quantified.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Ishaun Estates Limited (Registered number: 11113501)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 1,350,000
NET BOOK VALUE
At 30 November 2023 1,350,000
At 30 November 2022 1,350,000

Note: Investment property was valued at market value by the director. The director has enough experience to achieve this valuation.

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2021 547,799
Cost 802,201
1,350,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,990 7,450

Ishaun Estates Limited (Registered number: 11113501)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,848 34,000
Trade creditors 10,200 1,007
Taxation and social security 19,349 18,306
Other creditors 296,624 290,384
332,021 343,697

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 371,948 372,686

Note: Loan is secured providing charge on the company and freehold assets.

8. RESERVES
Revaluation
reserve
£   
At 1 December 2022
and 30 November 2023 443,717

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S J Desai.