1 01/05/2023 30/04/2024 2024-04-30 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-05-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 13318177 2023-05-01 2024-04-30 13318177 2024-04-30 13318177 2023-04-30 13318177 2022-05-01 2023-04-30 13318177 2023-04-30 13318177 2022-04-30 13318177 bus:Director1 2023-05-01 2024-04-30 13318177 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 13318177 core:AfterOneYear 2024-04-30 13318177 core:AfterOneYear 2023-04-30 13318177 core:ShareCapital 2022-05-01 2023-04-30 13318177 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 13318177 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 13318177 core:WithinOneYear 2024-04-30 13318177 core:WithinOneYear 2023-04-30 13318177 core:ShareCapital 2024-04-30 13318177 core:ShareCapital 2023-04-30 13318177 core:RetainedEarningsAccumulatedLosses 2024-04-30 13318177 core:RetainedEarningsAccumulatedLosses 2023-04-30 13318177 core:RetainedEarningsAccumulatedLosses 2022-04-30 13318177 core:PreviouslyStatedAmount core:ShareCapital 2024-04-30 13318177 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 13318177 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 13318177 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 13318177 bus:SmallEntities 2023-05-01 2024-04-30 13318177 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 13318177 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 13318177 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13318177 bus:FullAccounts 2023-05-01 2024-04-30 13318177 core:AllAssociates 2023-05-01 2024-04-30
Company registration number: 13318177
Indo Properties Limited
Pages for filing with Registrar
30 April 2024
Indo Properties Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Indo Properties Limited
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 575,000 488,281
_______ _______
575,000 488,281
Current assets
Debtors 6 7,517 390
Cash at bank and in hand 2,818 11,780
_______ _______
10,335 12,170
Creditors: amounts falling due
within one year 7 ( 171,549) ( 173,669)
_______ _______
Net current liabilities ( 161,214) ( 161,499)
_______ _______
Total assets less current liabilities 413,786 326,782
Creditors: amounts falling due
after more than one year 8 ( 322,531) ( 314,893)
Provisions for liabilities ( 16,477) -
_______ _______
Net assets 74,778 11,889
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 74,678 11,789
_______ _______
Shareholder funds 74,778 11,889
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 January 2025 , and are signed on behalf of the board by:
V Jerath
Director
Company registration number: 13318177
Indo Properties Limited
Statement of changes in equity
Year ended 30 April 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 May 2022 - ( 3,755) ( 3,755)
Profit for the year 15,544 15,544
_______ _______ _______
Total comprehensive income for the year - 15,544 15,544
Issue of shares 100 100
_______ _______ _______
Total investments by and distributions to owners 100 - 100
_______ _______ _______
At 30 April 2023 and 1 May 2023 100 11,789 11,889
Profit for the year 62,889 62,889
_______ _______ _______
Total comprehensive income for the year - 62,889 62,889
_______ _______ _______
At 30 April 2024 100 74,678 74,778
_______ _______ _______
Indo Properties Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is West 2 Asama Court, Newcastle Business Park, Newcastle upon Tyne, NE4 7YD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total value of rental income receivable during the year, net of discounts andValue Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Freehold property Total
£ £
Cost or valuation
At 1 May 2023 488,281 488,281
Revaluation 86,719 86,719
_______ _______
At 30 April 2024 575,000 575,000
_______ _______
Depreciation
At 1 May 2023 and 30 April 2024 - -
_______ _______
Carrying amount
At 30 April 2024 575,000 575,000
_______ _______
At 30 April 2023 488,281 488,281
_______ _______
Investment property
Included within the above is investment property measured at fair value as follows:
£
At 1 May 2023 488,281
Fair value adjustments 86,719
_______
At 30 April 2024 575,000
_______
The property was revalued at the year end by the director based on current market rates.
6. Debtors
2024 2023
£ £
Other debtors 7,517 390
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax - 2,765
Other creditors 171,549 170,904
_______ _______
171,549 173,669
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 322,531 314,893
_______ _______
9. Directors advances, credits and guarantees
Within other creditors due within one year are amounts due to the director £144,992 (2023: £150,304). This loan is provided interest free and repayable on demand
10. Related party transactions
Included within other debtors is £nil (2023:£290) due from companies under common control.Included within other creditors is £22,395 (2023: £ £20,000) due to companies under common control.