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Registered Number: 12994302
England and Wales

 

 

 

IIG1 HOLDING LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,052,155    1,052,155 
1,052,155    1,052,155 
Current assets      
Cash at bank and in hand 7,077    315 
Creditors: amount falling due within one year 4 (21,065)   (13,172)
Net current assets (13,988)   (12,857)
 
Total assets less current liabilities 1,038,167    1,039,298 
Creditors: amount falling due after more than one year 5 (983,141)   (995,825)
Net assets 55,026    43,473 
 

Capital and reserves
     
Called up share capital 6 10,000    10,000 
Profit and loss account 45,026    33,473 
Shareholders' funds 55,026    43,473 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 November 2024 and were signed on its behalf by:


-------------------------------
ALSWAIDAN Mohammed Waleed Abdullatif
Director
1
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 December 2021 10,000  18,643  28,643 
Profit for the year 14,830  14,830 
Total comprehensive income for the year 14,830  14,830 
Total investments by and distributions to owners
At 30 November 2022 10,000  33,473  43,473 
At 01 December 2022 10,000  33,473  43,473 
Profit for the year 11,553  11,553 
Total comprehensive income for the year 11,553  11,553 
Total investments by and distributions to owners
At 30 November 2023 10,000  45,026  55,026 
2
General Information
IIG1 HOLDING LTD is a private company, limited by shares, registered in England and Wales, registration number 12994302, registration address 10 Cameron Road, Ground Floor Front, Seven Kings, IG3 8LA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 December 2022 1,052,155    1,052,155 
Additions  
Disposals  
At 30 November 2023 1,052,155    1,052,155 
Depreciation
At 01 December 2022  
Charge for year  
On disposals  
At 30 November 2023  
Net book values
Closing balance as at 30 November 2023 1,052,155    1,052,155 
Opening balance as at 01 December 2022 1,052,155    1,052,155 


4.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 3,974    3,479 
VAT 17,091    9,693 
21,065    13,172 

5.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Trade Creditors 44,271    44,271 
Bank Loans & Overdrafts (secured) 520,000    520,000 
Directors' Loan Accounts 418,870    431,554 
983,141    995,825 

6.

Share Capital

Authorised
10,000 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
10,000 Class A shares of £1.00 each 10,000    10,000 
10,000    10,000 

3