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REGISTERED NUMBER: 11058910 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

INVESTGATE LTD

INVESTGATE LTD (REGISTERED NUMBER: 11058910)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INVESTGATE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: B Glass





REGISTERED OFFICE: First Floor, Winston House
349 Regents Park Road
London
N3 1DH





REGISTERED NUMBER: 11058910 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

INVESTGATE LTD (REGISTERED NUMBER: 11058910)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,417,888 1,412,908

CURRENT ASSETS
Debtors 5 6,477 11,672
Cash at bank 14,343 15,899
20,820 27,571
CREDITORS
Amounts falling due within one year 6 87,604 85,761
NET CURRENT LIABILITIES (66,784 ) (58,190 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,351,104

1,354,718

CREDITORS
Amounts falling due after more than one year 7 (998,865 ) (1,023,667 )

PROVISIONS FOR LIABILITIES (113,935 ) (113,935 )
NET ASSETS 238,304 217,116

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 341,804 341,804
Profit and loss account (103,600 ) (124,788 )
238,304 217,116

INVESTGATE LTD (REGISTERED NUMBER: 11058910)

BALANCE SHEET - continued
31 AUGUST 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





B Glass - Director


INVESTGATE LTD (REGISTERED NUMBER: 11058910)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Investgate Ltd 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 represents rental income receivable.

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.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


INVESTGATE LTD (REGISTERED NUMBER: 11058910)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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.

Going concern
The balance sheet at the end of the year recorded net current liabilities. However, the director believes sufficient financial resources are available to the company to enable it to continue trading into the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 1,412,908
Additions 4,980
At 31 August 2023 1,417,888
NET BOOK VALUE
At 31 August 2023 1,417,888
At 31 August 2022 1,412,908

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2023 455,738
Cost 962,150
1,417,888

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings - 5,100
Other debtors 6,477 6,572
6,477 11,672

INVESTGATE LTD (REGISTERED NUMBER: 11058910)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,868 10,000
Trade creditors 838 2,757
Amounts owed to group undertakings 43,670 11,490
Other creditors 23,228 61,514
87,604 85,761

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 998,865 1,023,667

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 982,066 987,000

9. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £635 (2022: £NIL) due from a company with a participating interest.

Included in other creditors is an amount of £15,802 (2022: £54,167) due to those with a participating interest.