IRIS Accounts Production v24.1.4.33 14412995 Board of Directors 12.10.22 31.10.23 31.10.23 30.10.24 false true false false true false Auditors Opinion Fair value model Ordinary Shares 1.00000 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh144129952022-10-11144129952023-10-31144129952022-10-122023-10-31144129952022-10-1114412995ns15:EnglandWales2022-10-122023-10-3114412995ns14:PoundSterling2022-10-122023-10-3114412995ns10:Director12022-10-122023-10-3114412995ns10:PrivateLimitedCompanyLtd2022-10-122023-10-3114412995ns10:SmallEntities2022-10-122023-10-3114412995ns10:Audited2022-10-122023-10-3114412995ns10:SmallCompaniesRegimeForDirectorsReport2022-10-122023-10-3114412995ns10:SmallCompaniesRegimeForAccounts2022-10-122023-10-3114412995ns10:FullAccounts2022-10-122023-10-3114412995ns10:OrdinaryShareClass12022-10-122023-10-3114412995ns10:OrdinaryShareClass1112022-10-122023-10-3114412995ns10:Director22022-10-122023-10-3114412995ns10:RegisteredOffice2022-10-122023-10-3114412995ns5:CurrentFinancialInstruments2023-10-3114412995ns5:Non-currentFinancialInstruments2023-10-3114412995ns5:ShareCapital2023-10-3114412995ns5:SharePremium2023-10-3114412995ns5:RetainedEarningsAccumulatedLosses2023-10-3114412995ns5:PlantMachinery2022-10-122023-10-3114412995ns5:FurnitureFittings2022-10-122023-10-3114412995ns5:ComputerEquipment2022-10-122023-10-3114412995ns5:PlantMachinery2023-10-3114412995ns5:FurnitureFittings2023-10-3114412995ns5:ComputerEquipment2023-10-3114412995ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3114412995ns5:Secured2023-10-3114412995ns5:DeferredTaxation2022-10-122023-10-3114412995ns5:DeferredTaxation2023-10-3114412995ns10:OrdinaryShareClass12023-10-3114412995ns5:RetainedEarningsAccumulatedLosses2022-10-122023-10-31
REGISTERED NUMBER: 14412995 (England and Wales)










Financial Statements

FOR THE PERIOD

12 October 2022 to 31 October 2023

for

INT ESTATES LTD

INT ESTATES LTD (REGISTERED NUMBER: 14412995)






Contents of the Financial Statements
FOR THE PERIOD 12 OCTOBER 2022 TO 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


INT ESTATES LTD

Company Information
FOR THE PERIOD 12 OCTOBER 2022 TO 31 OCTOBER 2023







DIRECTORS: A S Kounnis
P D A Karras





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 14412995 (England and Wales)





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

INT ESTATES LTD (REGISTERED NUMBER: 14412995)

Statement of Financial Position
31 OCTOBER 2023

Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 38,162
Investment property 5 2,759,331
2,797,493

CURRENT ASSETS
Debtors 6 92,193
Cash at bank 48,014
140,207
CREDITORS
Amounts falling due within one year 7 770,035
NET CURRENT LIABILITIES (629,828 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,167,665

CREDITORS
Amounts falling due after more than one
year

8

(850,000

)

PROVISIONS FOR LIABILITIES 10 (9,541 )
NET ASSETS 1,308,124

CAPITAL AND RESERVES
Called up share capital 11 272
Share premium 12 1,701,624
Retained earnings 12 (393,772 )
SHAREHOLDERS' FUNDS 1,308,124

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 30 October 2024 and were signed on its behalf by:





A S Kounnis - Director


INT ESTATES LTD (REGISTERED NUMBER: 14412995)

Notes to the Financial Statements
FOR THE PERIOD 12 OCTOBER 2022 TO 31 OCTOBER 2023

1. STATUTORY INFORMATION

Int Estates 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.

Revenue is recognised when services are rendered to the customers.

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

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

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery20% on reducing balance
Fixtures and fittings20% on reducing balance
Computer equipment20% on reducing balance

The company has adopted the policy of full year depreciation in the year of acquisition and none in the year of disposal of the asset.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

INT ESTATES LTD (REGISTERED NUMBER: 14412995)

Notes to the Financial Statements - continued
FOR THE PERIOD 12 OCTOBER 2022 TO 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors and 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 period 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.

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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 25 .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Office
machinery fittings Equipment Totals
£    £    £    £   
COST
Additions 7,285 23,254 17,164 47,703
At 31 October 2023 7,285 23,254 17,164 47,703
DEPRECIATION
Charge for period 1,457 4,651 3,433 9,541
At 31 October 2023 1,457 4,651 3,433 9,541
NET BOOK VALUE
At 31 October 2023 5,828 18,603 13,731 38,162

INT ESTATES LTD (REGISTERED NUMBER: 14412995)

Notes to the Financial Statements - continued
FOR THE PERIOD 12 OCTOBER 2022 TO 31 OCTOBER 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 2,759,331
At 31 October 2023 2,759,331
NET BOOK VALUE
At 31 October 2023 2,759,331

The directors consider that the market values of the properties were as per the values stated in the financial statements.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 48,216
Other debtors 43,977
92,193

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 40,740
Amounts owed to group undertakings 703,660
Taxation and social security 17,280
Other creditors 8,355
770,035

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Other creditors 850,000

9. SECURED DEBTS

The following secured debts are included within creditors:

£   
Other loans 850,000

Bank loan is secured by way of fixed charge on the property and other assets of the company and contains a negative pledge.

10. PROVISIONS FOR LIABILITIES
£   
Deferred tax 9,541

Deferred
tax
£   
Provided during period 9,541
Balance at 31 October 2023 9,541

INT ESTATES LTD (REGISTERED NUMBER: 14412995)

Notes to the Financial Statements - continued
FOR THE PERIOD 12 OCTOBER 2022 TO 31 OCTOBER 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
272 Ordinary Shares 1 272

272 Ordinary Shares shares of 1 each were allotted as fully paid at a premium of £6,255.97 per share during the period.

12. RESERVES
Retained Share
earnings premium Totals
£    £    £   

Deficit for the period (393,772 ) (393,772 )
Share premium - 1,701,624 1,701,624
At 31 October 2023 (393,772 ) 1,701,624 1,307,852

13. 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

14. 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 creditors, amount falling due within one year, is an amount of £703,662 due to group undertakings. This loan is interest free and repayable on demand.

During the year the company received services from a company with common shareholders amounting to £249,019.

15. 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.