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Registration number: 08789405

InSitu Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

InSitu Property Limited
(Registration number: 08789405)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

InSitu Property Limited
(Registration number: 08789405)

Company Information

Director

O D Helm

Registered office

4 St Leonards Place
Exeter
Devon
EX2 4LZ

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

InSitu Property Limited
(Registration number: 08789405)

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

248,263

167,073

Cash at bank and in hand

 

21,111

33,778

 

269,374

200,851

Creditors: Amounts falling due within one year

5

(24,029)

(21,664)

Net assets

 

245,345

179,187

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

244,345

178,187

Shareholders' funds

 

245,345

179,187

For the financial 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 January 2025
 

.........................................
O D Helm
Director

 

InSitu Property Limited
(Registration number: 08789405)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
4 St Leonards Place
Exeter
Devon
EX2 4LZ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

InSitu Property Limited
(Registration number: 08789405)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

InSitu Property Limited
(Registration number: 08789405)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Debtors

Note

2024
£

2023
£

Amounts owed by group companies

247,419

166,261

Prepayments and accrued income

 

844

812

Total current trade and other debtors

 

248,263

167,073

5

Creditors

2024
£

2023
£

Due within one year

Trade creditors

2,688

351

Taxation and social security

2,029

841

Other creditors

16,942

18,102

Accrued expenses

2,370

2,370

24,029

21,664

6

Parent and ultimate parent undertaking

The company's immediate parent is Cunniffe & Helm Limited, incorporated in the United Kingdom.

 The ultimate controlling party is Mr O D Helm.