Registered number
08898571
Intenz Ltd
Filleted Accounts
31 March 2024
Intenz Ltd
Registered number: 08898571
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 662 -
Investments 4 3,510,000 2,974,613
3,510,662 2,974,613
Current assets
Debtors 5 115,000 66,441
Cash at bank and in hand 6,609 33,197
121,609 99,638
Creditors: amounts falling due within one year 6 (692,801) (519,207)
Net current liabilities (571,192) (419,569)
Total assets less current liabilities 2,939,470 2,555,044
Creditors: amounts falling due after more than one year 7 (1,484,596) (1,604,366)
Provisions for liabilities (286,268) (144,940)
Net assets 1,168,606 805,738
Capital and reserves
Called up share capital 100 100
Revaluation reserve 9 - 617,901
Profit and loss account 1,168,506 187,737
Shareholder's funds 1,168,606 805,738
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Hapritsing Roshan
Director
Approved by the board on 31 December 2024
Intenz Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration for rent receivable, net of discounts and value added taxes. The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment, fixtures and fittings over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, 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 end date. Changes in fair value are recognised in profit or loss. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Equipment, fixtures and fittings
£
Cost
Additions 883
At 31 March 2024 883
Depreciation
Charge for the year 221
At 31 March 2024 221
Net book value
At 31 March 2024 662
4 Investment properties
Investment
properties
£
Cost
At 1 April 2023 2,974,613
Revaluation 565,313
Disposals (29,926)
At 31 March 2024 3,510,000
Investment properties comprise residential and commercial properties. These are carried out at fair value. The fair value of the investment properties has been arrived at on the basis of a valuation carried out by an independent valuer. Changes in fair value are recognised in the profit and loss accounts.
5 Debtors 2024 2023
£ £
Other debtors 115,000 66,441
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 157,902 32,000
Trade creditors 56,648 4,166
Taxation and social security costs 40,573 40,928
Other creditors 437,678 442,113
692,801 519,207
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,484,596 1,604,366
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 1,642,499 1,604,366
The aggregate amount of creditors for which security has been given amounted to £1,642,499. These amounts have been secured against the investment properties of the company.
9 Revaluation reserve 2024 2023
£ £
At 1 April 2023 617,901 617,901
Reclassification to profit and loss accounts (617,901) -
At 31 March 2024 - 617,901
10 Other information
Intenz Ltd is a private company limited by shares and incorporated in England. Its registered office is:
311 Regents Park Road
London
N3 1DP
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