Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Naseem Banu Beebeejaun 09/03/2009 Razia Majothi 15/08/2017 Natasha Louise Morrell 27/01/2023 Stephen Jonathan Morrell 24/10/2024 27/01/2023 30 January 2025 The principal activity of the company in the year under review was that of student letting accommodation. 05103427 2024-04-30 05103427 bus:Director1 2024-04-30 05103427 bus:Director2 2024-04-30 05103427 bus:Director3 2024-04-30 05103427 bus:Director4 2024-04-30 05103427 2023-04-30 05103427 core:CurrentFinancialInstruments 2024-04-30 05103427 core:CurrentFinancialInstruments 2023-04-30 05103427 core:Non-currentFinancialInstruments 2024-04-30 05103427 core:Non-currentFinancialInstruments 2023-04-30 05103427 core:ShareCapital 2024-04-30 05103427 core:ShareCapital 2023-04-30 05103427 core:RevaluationReserve 2024-04-30 05103427 core:RevaluationReserve 2023-04-30 05103427 core:RetainedEarningsAccumulatedLosses 2024-04-30 05103427 core:RetainedEarningsAccumulatedLosses 2023-04-30 05103427 core:LandBuildings 2023-04-30 05103427 core:OtherPropertyPlantEquipment 2023-04-30 05103427 core:LandBuildings 2024-04-30 05103427 core:OtherPropertyPlantEquipment 2024-04-30 05103427 bus:OrdinaryShareClass1 2024-04-30 05103427 2023-05-01 2024-04-30 05103427 bus:FilletedAccounts 2023-05-01 2024-04-30 05103427 bus:SmallEntities 2023-05-01 2024-04-30 05103427 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05103427 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05103427 bus:Director1 2023-05-01 2024-04-30 05103427 bus:Director2 2023-05-01 2024-04-30 05103427 bus:Director3 2023-05-01 2024-04-30 05103427 bus:Director4 2023-05-01 2024-04-30 05103427 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-05-01 2024-04-30 05103427 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-05-01 2024-04-30 05103427 2022-05-01 2023-04-30 05103427 core:LandBuildings 1 2023-05-01 2024-04-30 05103427 core:OtherPropertyPlantEquipment 1 2023-05-01 2024-04-30 05103427 1 2023-05-01 2024-04-30 05103427 core:LandBuildings 2023-05-01 2024-04-30 05103427 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 05103427 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 05103427 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 05103427 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05103427 (England and Wales)

INSPIRE TO INDEPENDENCE (PROPERTY) LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

INSPIRE TO INDEPENDENCE (PROPERTY) LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

INSPIRE TO INDEPENDENCE (PROPERTY) LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
INSPIRE TO INDEPENDENCE (PROPERTY) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Naseem Banu Beebeejaun
Razia Majothi
Natasha Louise Morrell
Stephen Jonathan Morrell (Resigned 24 October 2024)
REGISTERED OFFICE Wellington House Aviator Court
Clifton Moor
York
YO30 4UZ
United Kingdom
COMPANY NUMBER 05103427 (England and Wales)
ACCOUNTANT Brodericks (York) Ltd
Wellington House
York
Y)30 4UZ
INSPIRE TO INDEPENDENCE (PROPERTY) LIMITED

BALANCE SHEET

As at 30 April 2024
INSPIRE TO INDEPENDENCE (PROPERTY) LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,693,205 2,707,514
2,693,205 2,707,514
Current assets
Debtors 4 2,538 2,897
Cash at bank and in hand 5,680 6,918
8,218 9,815
Creditors: amounts falling due within one year 5 ( 464,383) ( 432,631)
Net current liabilities (456,165) (422,816)
Total assets less current liabilities 2,237,040 2,284,698
Creditors: amounts falling due after more than one year 6 ( 1,529,231) ( 1,534,787)
Net assets 707,809 749,911
Capital and reserves
Called-up share capital 7 101 100
Revaluation reserve 400,000 400,000
Profit and loss account 307,708 349,811
Total shareholders' funds 707,809 749,911

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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Inspire To Independence (Property) Limited (registered number: 05103427) were approved and authorised for issue by the Board of Directors on 30 January 2025. They were signed on its behalf by:

Naseem Banu Beebeejaun
Director
INSPIRE TO INDEPENDENCE (PROPERTY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
INSPIRE TO INDEPENDENCE (PROPERTY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Inspire To Independence (Property) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wellington House Aviator Court, Clifton Moor, York, YO30 4UZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 1 - 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 May 2023 2,668,594 46,817 2,715,411
0 0 0
At 30 April 2024 2,668,594 46,817 2,715,411
Accumulated depreciation
At 01 May 2023 0 7,897 7,897
Charge for the financial year 0 14,309 14,309
At 30 April 2024 0 22,206 22,206
Net book value
At 30 April 2024 2,668,594 24,611 2,693,205
At 30 April 2023 2,668,594 38,920 2,707,514

4. Debtors

2024 2023
£ £
Trade debtors 505 ( 273)
Other debtors 2,033 3,170
2,538 2,897

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,528 39,606
Taxation and social security ( 1,697) ( 3,196)
Other creditors 463,552 396,221
464,383 432,631

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 1,529,231 1,534,787

The bank loans are secured on freehold properties of the Company.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
101 Ordinary shares of £ 1.00 each (2023: 100 shares of £ 1.00 each) 101 100