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REGISTERED NUMBER: 09420187 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ITS ON HOLD LIMITED

ITS ON HOLD LIMITED (REGISTERED NUMBER: 09420187)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

ITS ON HOLD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mrs J N Bicknell
S J Walker





REGISTERED OFFICE: 210 High Street
Berkhamsted
Hertfordshire
HP4 1AG





REGISTERED NUMBER: 09420187 (England and Wales)





ACCOUNTANTS: BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX

ITS ON HOLD LIMITED (REGISTERED NUMBER: 09420187)

ABRIDGED STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 583,928 395,248
Investment property 5 4,690,223 4,455,223
5,274,151 4,850,471

CURRENT ASSETS
Debtors 424,103 5,468
Cash at bank 7,098 163,877
431,201 169,345
CREDITORS
Amounts falling due within one year (217,832 ) (11,362 )
NET CURRENT ASSETS 213,369 157,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,487,520

5,008,454

CREDITORS
Amounts falling due after more than
one year

(5,281,652

)

(4,728,996

)

PROVISIONS FOR LIABILITIES (108,838 ) (105,357 )
NET ASSETS 97,030 174,101

CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 463,994 449,153
Retained earnings (367,064 ) (275,152 )
SHAREHOLDERS' FUNDS 97,030 174,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ITS ON HOLD LIMITED (REGISTERED NUMBER: 09420187)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:





S J Walker - Director


ITS ON HOLD LIMITED (REGISTERED NUMBER: 09420187)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Its On Hold Limited 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 as modified by the revaluation of certain assets.

Going concern
The directors have considered the working capital needs of the company for a period of twelve months from the date of approval of these financial statements.

These financial statements have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period, by not withdrawing their funding to the detriment of other unsecured creditors and by providing further working capital as required by the company in order to deliver against its latest business plan.

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

The company's income is derived from property rental income, which is recognised in the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in revaluation reserve.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


ITS ON HOLD LIMITED (REGISTERED NUMBER: 09420187)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 450,910
Additions 230,080
At 29 February 2024 680,990
DEPRECIATION
At 1 March 2023 55,662
Charge for year 41,400
At 29 February 2024 97,062
NET BOOK VALUE
At 29 February 2024 583,928
At 28 February 2023 395,248

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 4,455,223
Additions 216,678
Revaluations 18,322
At 29 February 2024 4,690,223
NET BOOK VALUE
At 29 February 2024 4,690,223
At 28 February 2023 4,455,223

ITS ON HOLD LIMITED (REGISTERED NUMBER: 09420187)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. INVESTMENT PROPERTY - continued

The directors have considered the fair value of the investment properties. Based on local property knowledge and have adopted in these financial statements. They are considered estimates of these fair values.

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 506,851
Valuation in 2023 47,659
Valuation in 2024 18,322
Cost 4,117,391
4,690,223

6. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 580,265 580,367

Mortgage loans are secured against the properties for which the mortgages were taken out. The mortgages are interest only with repayment due in 2042 and 2043.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
50 Ordinary £1 50 50
50 Ordinary B £1 50 50
100 100

8. RESERVES
Revaluation
reserve
£   
At 1 March 2023 449,153
Property revaluations 18,322
Transfer (3,481 )

At 29 February 2024 463,994

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ITS ON HOLD LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Its On Hold Limited for the year ended 29 February 2024 which comprise the Statement of Income and Retained Earnings, Abridged Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Its On Hold Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Its On Hold Limited and state those matters that we have agreed to state to the Board of Directors of Its On Hold Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Its On Hold Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Its On Hold Limited. You consider that Its On Hold Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Its On Hold Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX


Date: .............................................