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REGISTERED NUMBER: 04778465 (England and Wales)












INTERUNI LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






INTERUNI LIMITED (REGISTERED NUMBER: 04778465)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INTERUNI LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr N Stavrou





REGISTERED OFFICE: 19 Chalfont Drive
Hove
Brighton
BN3 6QR





REGISTERED NUMBER: 04778465 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

INTERUNI LIMITED (REGISTERED NUMBER: 04778465)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 126 157
Investment property 5 2,240,000 2,240,000
2,240,126 2,240,157

CURRENT ASSETS
Debtors 6 6,500 6,500
Cash at bank 680,886 608,698
687,386 615,198
CREDITORS
Amounts falling due within one year 7 62,248 54,700
NET CURRENT ASSETS 625,138 560,498
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,865,264

2,800,655

CREDITORS
Amounts falling due after more than one
year

8

(789,345

)

(789,345

)

PROVISIONS FOR LIABILITIES 10 (149,042 ) (149,042 )
NET ASSETS 1,926,877 1,862,268

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Fair value reserve 12 988,628 988,628
Retained earnings 12 937,249 872,640
SHAREHOLDERS' FUNDS 1,926,877 1,862,268

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

INTERUNI LIMITED (REGISTERED NUMBER: 04778465)

BALANCE SHEET - continued
31 MAY 2024


The 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 January 2025 and were signed by:





Mr N Stavrou - Director


INTERUNI LIMITED (REGISTERED NUMBER: 04778465)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Interuni 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The company adopted FRS 102 1A in the current year and an explanation of how transition of FRS 102 1A has affected the reported financial position and performance is given in the notes.

Turnover
Turnover represents gross rents receivable excluding value added tax. Turnover is recognised when rent
becomes payable under the tenancy agreements.

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 reducing balance

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

The company's investment properties are held for long term investment and are included in the balance sheet at their open market values. No depreciation is provided in respect of Freehold and long leasehold investment properties. An investment property on short leasehold where the remaining life is less than 20 years is amortised over the life of the lease.

This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The director consider that this policy is necessary in order that the accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown, cannot be separately identified or quantified.

All Investment properties are revalued every year. The surplus(es) or deficit(s) on revaluation of such properties are transferred to revaluation reserve, apart from when the revaluation is below the original cost and in the opinion of the directors the diminution in value is of a permanent nature which is charged to the profit and loss account. On the disposal of a revalued fixed asset, any related balances in the revaluation reserve are transferred to the profit and loss account as a movement in reserves.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rate and laws that have been enacted or substantively enacted by the balance sheet date.


INTERUNI LIMITED (REGISTERED NUMBER: 04778465)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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 balance sheet 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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 June 2023
and 31 May 2024 7,413
DEPRECIATION
At 1 June 2023 7,256
Charge for year 31
At 31 May 2024 7,287
NET BOOK VALUE
At 31 May 2024 126
At 31 May 2023 157

INTERUNI LIMITED (REGISTERED NUMBER: 04778465)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 2,240,000
NET BOOK VALUE
At 31 May 2024 2,240,000
At 31 May 2023 2,240,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2016 537,670
Valuation in 2021 600,000
Cost 1,102,330
2,240,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 6,500 6,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Tax 18,206 11,921
Other creditors 11,200 22,712
Directors' current accounts 30,442 17,787
Accruals and deferred income 2,400 2,280
62,248 54,700

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans more 5 yrs non-inst 789,345 789,345

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 789,345 789,345

INTERUNI LIMITED (REGISTERED NUMBER: 04778465)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 789,345 789,345

The bank loans are secured by fixed and floating charges over the company's assets.

10. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 149,042 149,042

Deferred
tax
£   
Balance at 1 June 2023 149,042
Balance at 31 May 2024 149,042

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100
900 Ordinary B Non-voting £1 900 900
1,000 1,000

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2023 872,640 988,628 1,861,268
Profit for the year 64,609 - 64,609
At 31 May 2024 937,249 988,628 1,925,877

13. CONTROLLING PARTY

The controlling party is Mr N Stavrou.