Registered number
NI034700
Iringa Investments Limited
Filleted Accounts
31 March 2024
Iringa Investments Limited
Registered number: NI034700
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 653,631 653,631
Investments 4 108,143 86,813
761,774 740,444
Current assets
Cash at bank and in hand 31,868 15,305
Creditors: amounts falling due within one year 5 (7,095) (9,831)
Net current assets 24,773 5,474
Total assets less current liabilities 786,547 745,918
Creditors: amounts falling due after more than one year 6 (39,835) (45,254)
Provisions for liabilities (44,900) (29,200)
Net assets 701,812 671,464
Capital and reserves
Called up share capital 20,000 20,000
Revaluation reserve 7 192,687 201,587
Profit and loss account 489,125 449,877
Shareholders' funds 701,812 671,464
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mary O'Dwyer
Director
Approved by the board on 23 September 2024
Iringa Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
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 comprises rents from the letting of residential properties in the United Kingdom.
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:
Office equipment over 5 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Investment Properties
£
Cost
At 1 April 2023 653,631
At 31 March 2024 653,631
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 653,631
At 31 March 2023 653,631
4 Investments
Other
investments
£
Cost
At 1 April 2023 86,813
Additions 21,330
At 31 March 2024 108,143
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 5,775 8,511
Other creditors 1,320 1,320
7,095 9,831
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 39,835 45,254
7 Revaluation reserve 2024 2023
£ £
At 1 April 2023 201,587 196,537
Deferred taxation arising on the revaluation of land and buildings (8,900) 5,050
At 31 March 2024 192,687 201,587
8 Related party transactions
During the year the director, Mary O'Dwyer, made further loans to the company of £28,463 and withdrew £33,882 from this account.
The loan from Mary O'Dwyer is interest free and has no fixed date for repayment.
9 Controlling party
The controlling party is Mary O'Dwyer by virtue of her holding 100% of the share capital of its holding company, Iringa Too Limited.
10 Other information
Iringa Investments Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
5 Browning Drive
Londonderry
BT47 6HN
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