IRIS Accounts Production v24.1.4.33 10712151 Board of Directors 1.11.22 31.10.23 31.10.23 29.10.24 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh107121512022-10-31107121512023-10-31107121512022-11-012023-10-31107121512021-04-30107121512021-05-012022-10-31107121512022-10-3110712151ns15:EnglandWales2022-11-012023-10-3110712151ns14:PoundSterling2022-11-012023-10-3110712151ns10:Director12022-11-012023-10-3110712151ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3110712151ns10:SmallEntities2022-11-012023-10-3110712151ns10:Audited2022-11-012023-10-3110712151ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3110712151ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3110712151ns10:FullAccounts2022-11-012023-10-3110712151ns10:Director22022-11-012023-10-3110712151ns10:Director32022-11-012023-10-3110712151ns10:RegisteredOffice2022-11-012023-10-3110712151ns5:CurrentFinancialInstruments2023-10-3110712151ns5:CurrentFinancialInstruments2022-10-3110712151ns5:Non-currentFinancialInstruments2023-10-3110712151ns5:Non-currentFinancialInstruments2022-10-3110712151ns5:ShareCapital2023-10-3110712151ns5:ShareCapital2022-10-3110712151ns5:RetainedEarningsAccumulatedLosses2023-10-3110712151ns5:RetainedEarningsAccumulatedLosses2022-10-3110712151ns5:MotorVehicles2022-11-012023-10-3110712151ns5:MotorVehicles2023-10-3110712151ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-11-012023-10-3110712151ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-3110712151ns5:AdditionsToInvestments2023-10-3110712151ns5:CostValuation2023-10-3110712151ns5:FinanceLeasesns5:WithinOneYear2023-10-3110712151ns5:FinanceLeasesns5:WithinOneYear2022-10-3110712151ns5:BetweenOneFiveYearsns5:FinanceLeases2023-10-3110712151ns5:BetweenOneFiveYearsns5:FinanceLeases2022-10-3110712151ns5:FinanceLeases2023-10-3110712151ns5:FinanceLeases2022-10-3110712151ns5:CurrentFinancialInstrumentsns5:FinanceLeasesns5:WithinOneYear2023-10-3110712151ns5:CurrentFinancialInstrumentsns5:FinanceLeasesns5:WithinOneYear2022-10-31
REGISTERED NUMBER: 10712151 (England and Wales)










Financial Statements

for the Year Ended 31 October 2023

for

INTSOL CONSTRUCTION LTD

INTSOL CONSTRUCTION LTD (REGISTERED NUMBER: 10712151)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


INTSOL CONSTRUCTION LTD

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Mr P D A Karras
Mr A S Kounnis
Mr A L A Ghambary





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 10712151 (England and Wales)





AUDITORS: AGK Partners
Chartered Accountants & Statutory Auditors
1 Kings Avenue
London
N21 3NA

INTSOL CONSTRUCTION LTD (REGISTERED NUMBER: 10712151)

Statement of Financial Position
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,520 -
Investments 5 150,000 -
173,520 -

CURRENT ASSETS
Debtors 6 2,599 12,521
Cash at bank and in hand 104,774 79,415
107,373 91,936
CREDITORS
Amounts falling due within one year 7 112,301 94,476
NET CURRENT LIABILITIES (4,928 ) (2,540 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,592

(2,540

)

CREDITORS
Amounts falling due after more than one
year

8

(15,492

)

-

PROVISIONS FOR LIABILITIES (5,880 ) -
NET ASSETS/(LIABILITIES) 147,220 (2,540 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 147,217 (2,543 )
147,220 (2,540 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





Mr P D A Karras - Director


INTSOL CONSTRUCTION LTD (REGISTERED NUMBER: 10712151)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Intsol Construction 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses.Such cost included costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives, on the following basis:


Motor vehicles20 % on Reducing balance

The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


INTSOL CONSTRUCTION LTD (REGISTERED NUMBER: 10712151)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 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 statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
Additions 29,400
At 31 October 2023 29,400
DEPRECIATION
Charge for year 5,880
At 31 October 2023 5,880
NET BOOK VALUE
At 31 October 2023 23,520

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
Additions 29,400
At 31 October 2023 29,400
DEPRECIATION
Charge for year 5,880
At 31 October 2023 5,880
NET BOOK VALUE
At 31 October 2023 23,520

INTSOL CONSTRUCTION LTD (REGISTERED NUMBER: 10712151)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 150,000
At 31 October 2023 150,000
NET BOOK VALUE
At 31 October 2023 150,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 2,599 12,521

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Finance leases (see note 9) 5,164 -
Trade creditors 14,506 7,238
Amounts owed to group undertakings 27,492 64,572
Taxation and social security 59,334 4,201
Other creditors 5,805 18,465
112,301 94,476

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Finance leases (see note 9) 15,492 -

9. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2023 2022
£    £   
Gross obligations repayable:
Within one year 6,333 -
Between one and five years 18,999 -
25,332 -

Finance charges repayable:
Within one year 1,169 -
Between one and five years 3,507 -
4,676 -

Net obligations repayable:
Within one year 5,164 -
Between one and five years 15,492 -
20,656 -

INTSOL CONSTRUCTION LTD (REGISTERED NUMBER: 10712151)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alekos Christofi (FCCA) (Senior Statutory Auditor)
for and on behalf of AGK Partners

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in debtors, amount falling due within one year, is an amount of £2,599 (2022: £12,521) owed by the group undertakings. The loan was interest free and repayable on demand.

Included in creditors, amount falling due within one year, is an amount of £27,492 (2022: £64,572) owed to the group undertakings. The loan was interest free and repayable on demand.

During the year the company provided services to a company with common shareholders amounting to £457,498 (2022: £453,486).

12. ULTIMATE CONTROLLING PARTY

The company's immediate parent is The Intsol Group Ltd, incorporated in England and Wales. The
ultimate controlling parties are the shareholder's of The Intsol Group Ltd by virtue of their holding in the parent company.

13. COMPARATIVES

The figures in the accounts are not comparable as the current period of these accounts consist of twelve months as compared to eighteen months in previous period.