Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09709544 W M Wong iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09709544 2022-12-31 09709544 2023-12-31 09709544 2023-01-01 2023-12-31 09709544 frs-core:CurrentFinancialInstruments 2023-12-31 09709544 frs-core:Non-currentFinancialInstruments 2023-12-31 09709544 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 09709544 frs-core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 09709544 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 09709544 frs-core:RevaluationReserve 2023-01-01 2023-12-31 09709544 frs-core:RevaluationReserve 2022-12-31 09709544 frs-core:RevaluationReserve 2023-12-31 09709544 frs-core:ShareCapital 2023-12-31 09709544 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09709544 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09709544 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09709544 frs-bus:SmallEntities 2023-01-01 2023-12-31 09709544 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09709544 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09709544 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09709544 frs-bus:OrdinaryShareClass1 2023-12-31 09709544 frs-bus:Director1 2023-01-01 2023-12-31 09709544 frs-countries:EnglandWales 2023-01-01 2023-12-31 09709544 2021-12-31 09709544 2022-12-31 09709544 2022-01-01 2022-12-31 09709544 frs-core:CurrentFinancialInstruments 2022-12-31 09709544 frs-core:Non-currentFinancialInstruments 2022-12-31 09709544 frs-core:RevaluationReserve 2022-12-31 09709544 frs-core:ShareCapital 2022-12-31 09709544 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 09709544 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31
Registered number: 09709544
Intergain Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09709544
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 247,500 552,818
247,500 552,818
CURRENT ASSETS
Debtors 5 1,393 -
Cash at bank and in hand 4,637 9,111
6,030 9,111
Creditors: Amounts Falling Due Within One Year 6 (9,865 ) (5,252 )
NET CURRENT ASSETS (LIABILITIES) (3,835 ) 3,859
TOTAL ASSETS LESS CURRENT LIABILITIES 243,665 556,677
Creditors: Amounts Falling Due After More Than One Year 7 (158,690 ) (455,948 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,981 ) (11,706 )
NET ASSETS 80,994 89,023
CAPITAL AND RESERVES
Called up share capital 8 2 2
Revaluation reserve 9 13,021 100,942
Profit and Loss Account 67,971 (11,921 )
SHAREHOLDERS' FUNDS 80,994 89,023
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Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
W M Wong
Director
28/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Intergain Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09709544 . The registered office is Ground Floor Marlborough House, 298 Regents Park Road, London, N3 2SZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover represents rents receivable on properties within the UK. Rents are receivable on a weekly and monthly basis and where payments are receivable from tenants for periods ending after the balance sheet date, the relevant proportion of rent receivable is recorded as deferred income and included as part of creditors due within one year.
2.3. Investment Properties
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.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Investment Properties
£
Cost
As at 1 January 2023 552,818
Disposals (305,318 )
As at 31 December 2023 247,500
Net Book Value
As at 31 December 2023 247,500
As at 1 January 2023 552,818
In the opinion of the director, the fair value of the investment properties is considered to be £247,500 as at 31 December 2023.
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,393 -
1,393 -
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 594 120
Corporation tax 5,841 2,342
Accruals and deferred income 3,430 2,790
9,865 5,252
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Directors loan account 158,690 455,948
158,690 455,948
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8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1 each 2 2
9. Reserves
Revaluation Reserve
£
As at 1 January 2023 100,942
Transfer to/from profit and loss (87,921 )
As at 31 December 2023 13,021
10. Related Party Transactions
At the balance sheet date, included in creditors due after one year, is an amount of £158,690 (2022: £455,949) owed to the director. This loan is interest free, unsecured and has no fixed terms for repayment.
The ultimate controlling party is W M Wong, the director and shareholder of the company.
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