REGISTERED NUMBER: |
Financial Statements |
FOR THE PERIOD |
12 October 2022 to 31 October 2023 |
for |
INT ESTATES LTD |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium | 12 |
Retained earnings | 12 | ( |
) |
SHAREHOLDERS' FUNDS |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 machinery | 20% on reducing balance |
Fixtures and fittings | 20% on reducing balance |
Computer equipment | 20% 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 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Plant and | and | Office |
machinery | fittings | Equipment | Totals |
£ | £ | £ | £ |
COST |
Additions |
At 31 October 2023 |
DEPRECIATION |
Charge for period |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
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 |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
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 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Other loans |
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 |
Balance at 31 October 2023 |
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: | £ |
Ordinary Shares | 1 | 272 |
272 Ordinary Shares shares of 1 each were allotted as fully paid |
12. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
Deficit for the period | ( |
) | ( |
) |
Share premium | - | 1,701,624 | 1,701,624 |
At 31 October 2023 | ( |
) | 1,307,852 |
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |