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Company Registration No. 09321782 (England and Wales)
IRULES LIMITED Unaudited accounts for the year ended 31 March 2024
IRULES LIMITED Unaudited accounts Contents
Page
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IRULES LIMITED Company Information for the year ended 31 March 2024
Directors
Varsha Ghanate Sudhir Kumar Ghanate
Company Number
09321782 (England and Wales)
Registered Office
7a The Highway Chelsfield Orpington BR6 9DG England
Accountants
Schiavi Pole Brett Ltd 15A Walm Lane London NW2 5SJ
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IRULES LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
35,601 
48,380 
Investment property
419,371 
419,371 
454,972 
467,751 
Current assets
Debtors
- 
266 
Cash at bank and in hand
127,240 
126,169 
127,240 
126,435 
Creditors: amounts falling due within one year
(1,607)
(297)
Net current assets
125,633 
126,138 
Total assets less current liabilities
580,605 
593,889 
Creditors: amounts falling due after more than one year
(298,480)
(298,480)
Net assets
282,125 
295,409 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
282,025 
295,309 
Shareholders' funds
282,125 
295,409 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by
Sudhir Kumar Ghanate Director Company Registration No. 09321782
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IRULES LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
IRULES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09321782. The registered office is 7a The Highway, Chelsfield, Orpington, BR6 9DG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
The turnover shown in the profit and loss account represents revenue recognised by the company exclusive of Value Added Tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20.00% on cost using straight line method
Fixtures & fittings
33.33% on cost using straight line method
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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IRULES LIMITED Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
60,435 
2,106 
62,541 
At 31 March 2024
60,435 
2,106 
62,541 
Depreciation
At 1 April 2023
12,926 
1,235 
14,161 
Charge for the year
12,087 
692 
12,779 
At 31 March 2024
25,013 
1,927 
26,940 
Net book value
At 31 March 2024
35,422 
179 
35,601 
At 31 March 2023
47,509 
871 
48,380 
5
Investment property
2024 
£ 
Fair value at 1 April 2023
419,371 
At 31 March 2024
419,371 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
266 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
1,607 
297 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
298,480 
298,480 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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