Company Registration No. 05354658 (England and Wales)
Info-site Limited
Unaudited accounts
for the year ended 31 December 2023
Info-site Limited
Unaudited accounts
Contents
Info-site Limited
Company Information
for the year ended 31 December 2023
Directors
Mr Simon Shah
Mr Adam Stratton
Company Number
05354658 (England and Wales)
Registered Office
The Barn
7-13 Alma Street
Reading
RG30 1JS
Info-site Limited
Statement of financial position
as at 31 December 2023
Investment property
2,237,085
2,052,836
Cash at bank and in hand
58,039
13,607
Creditors: amounts falling due within one year
(756,610)
(703,477)
Net current liabilities
(666,037)
(682,536)
Total assets less current liabilities
1,571,048
1,370,300
Creditors: amounts falling due after more than one year
(565,592)
(570,185)
Provisions for liabilities
Deferred tax
(102,036)
(102,036)
Net assets
903,420
698,079
Called up share capital
1,000
1,000
Profit and loss account
902,420
697,079
Shareholders' funds
903,420
698,079
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by
Mr Adam Stratton
Director
Company Registration No. 05354658
Info-site Limited
Notes to the Accounts
for the year ended 31 December 2023
Info-site Limited is a private company, limited by shares, registered in England and Wales, registration number 05354658. The registered office is The Barn, 7-13 Alma Street, Reading, RG30 1JS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Info-site Limited
Notes to the Accounts
for the year ended 31 December 2023
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have not had to make any judgements:
Other key sources of estimation uncertainty:
Investment properties (note 4)
Investment properties are valued annually by the directors against the market, but there is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the market itself.
Fair value at 1 January 2023
2,052,836
Net gain from fair value adjustments
184,249
At 31 December 2023
2,237,085
Amounts falling due within one year
Amounts due from group undertakings etc.
7,034
7,034
Accrued income and prepayments
-
300
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
2,842
1,403
Other creditors
495,496
470,153
Loans from directors
236,729
221,671
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
565,592
570,185
Bank loans held at the year end are interest bearing mortgages secured against the investment properties held by the company.
8
Transactions with related parties
The company has taken advantage of the exemption available in Section 33.1A of FRS 102 not to disclose transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
Info-site Limited
Notes to the Accounts
for the year ended 31 December 2023
The immediate parent and controlling party of the company is Info-Site Holdings Limited, a company registered in England and Wales. Its registered office address is the same as that of this company, which is shown on the company information page.
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).