Registered number
10505689
Inayat Portfolio Ltd
Filleted Accounts
31 December 2023
Inayat Portfolio Ltd
Registered number: 10505689
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 364 486
Investments 4 800,000 800,000
800,364 800,486
Current assets
Debtors 5 61,156 68,914
Cash at bank and in hand 1,534 2,278
62,690 71,192
Creditors: amounts falling due within one year 6 (26,693) (36,061)
Net current assets 35,997 35,131
Total assets less current liabilities 836,361 835,617
Creditors: amounts falling due after more than one year 7 (350,184) (349,081)
Provisions for liabilities 6 (86,328) (86,328)
Net assets 399,849 400,208
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 398,849 399,208
Shareholder's funds 399,849 400,208
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Mohammad Siddique
Director
Approved by the board on 19 September 2024
Inayat Portfolio Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reduced Balance Method
Fixtures, fittings, tools and equipment 25% Reduced Balance Method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 662
At 31 December 2023 662
Depreciation
At 1 January 2023 176
Charge for the year 122
At 31 December 2023 298
Net book value
At 31 December 2023 364
At 31 December 2022 486
4 Investments
Other
investments
£
Cost
At 1 January 2023 800,000
At 31 December 2023 800,000
2020 2019
£ £
Freehold Property 800,000 800,000
The assets have been revalued during the reporting period by the director based on the yield of similar properties in the area.
5 Debtors 2023 2022
£ £
Other debtors 61,156 68,914
6 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax - 2,276
Other creditors 26,693 33,785
26,693 36,061
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 350,184 349,081
6 Provisions for liabilities 2023 2022
£ £
Deferred Tax Liability 86,328 86,328
86,328 86,328
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 350,184 349,081
The bank loans and overdrafts are secured against assets of the company. The company have loans with Metro Bank of £ 350184 and the interest rate is 8.50%.
9 Other information
Inayat Portfolio Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Clarendon Gardens
Ilford
Essex
IG1 3JN
Inayat Portfolio Ltd 10505689 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts October 2023 release 2 Mr Mohammad Siddique No description of principal activity 10505689 2022-01-01 2022-12-31 10505689 core:WithinOneYear 2022-12-31 10505689 core:AfterOneYear 2022-12-31 10505689 core:ShareCapital 2022-12-31 10505689 core:RetainedEarningsAccumulatedLosses 2022-12-31 10505689 2023-01-01 2023-12-31 10505689 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10505689 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10505689 bus:Director40 2023-01-01 2023-12-31 10505689 1 2023-01-01 2023-12-31 10505689 2 2023-01-01 2023-12-31 10505689 core:PlantMachinery 2023-01-01 2023-12-31 10505689 countries:England 2023-01-01 2023-12-31 10505689 bus:FRS102 2023-01-01 2023-12-31 10505689 bus:FullAccounts 2023-01-01 2023-12-31 10505689 2023-12-31 10505689 core:WithinOneYear 2023-12-31 10505689 core:AfterOneYear 2023-12-31 10505689 core:ShareCapital 2023-12-31 10505689 core:RetainedEarningsAccumulatedLosses 2023-12-31 10505689 core:PlantMachinery 2023-12-31 10505689 2022-12-31 10505689 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure