Company Registration No. 09321782 (England and Wales)
IRULES LIMITED
Unaudited accounts
for the year ended 31 March 2024
IRULES LIMITED
Unaudited accounts
Contents
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
IRULES LIMITED
Statement of financial position
as at 31 March 2024
Tangible assets
35,601
48,380
Investment property
419,371
419,371
Cash at bank and in hand
127,240
126,169
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
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
IRULES LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
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
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
At 31 March 2024
35,422
179
35,601
At 31 March 2023
47,509
871
48,380
Fair value at 1 April 2023
419,371
Amounts falling due within one year
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
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).