ISH Properties Limited 05823839 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Other business support service activities not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true false true 05823839 2023-06-01 2024-05-31 05823839 2024-05-31 05823839 bus:OrdinaryShareClass1 2024-05-31 05823839 core:CurrentFinancialInstruments 2024-05-31 05823839 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 05823839 core:Non-currentFinancialInstruments 2024-05-31 05823839 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 05823839 bus:SmallEntities 2023-06-01 2024-05-31 05823839 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 05823839 bus:FilletedAccounts 2023-06-01 2024-05-31 05823839 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 05823839 bus:RegisteredOffice 2023-06-01 2024-05-31 05823839 bus:CompanySecretary1 2023-06-01 2024-05-31 05823839 bus:Director1 2023-06-01 2024-05-31 05823839 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 05823839 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05823839 countries:EnglandWales 2023-06-01 2024-05-31 05823839 core:CostValuation core:Non-currentFinancialInstruments 2023-05-31 05823839 2022-06-01 2023-05-31 05823839 2023-05-31 05823839 bus:OrdinaryShareClass1 2023-05-31 05823839 core:CurrentFinancialInstruments 2023-05-31 05823839 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 05823839 core:Non-currentFinancialInstruments 2023-05-31 05823839 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05823839

ISH Properties Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

ISH Properties Limited

Contents

Company Information

1

Independent Auditor's Report

2 to 3

Abridged Balance Sheet

4 to 5

Notes to the Unaudited Abridged Financial Statements

6 to 8

 

ISH Properties Limited

Company Information

Director

Dr Jaswir Singh Sanghera

Company secretary

Dr Vichitar Sanghera

Registered office

Charles Rippin & Turner
Middlesex House
130 College Road
Harrow
Middlesex
HA1 1BQ

Accountants

Charles Rippin & Turner
Chartered Accountants
Middlesex House
130 College Road
Harrow
Middlesex
HA1 1BQ

 

ISH Properties Limited

Independent Auditor's Report to the Members of ISH Properties Limited

We have audited the abridged financial statements of ISH Properties Limited for the year ended 31 May 2024, set out on pages 4 to 8. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of the director and auditor

As explained more fully in the (set out on page ), the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors, including "APB Ethical Standard - Provisions Available for Small Entities (Revised)".

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on the financial statements

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 May 2024 and of its loss for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; and

have been prepared in accordance with the requirements of the Companies Act 2006.

 

ISH Properties Limited

Independent Auditor's Report to the Members of ISH Properties Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the has been prepared in accordance with applicable legal requirements.

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the .

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors’ remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the .

......................................
(Senior Statutory Auditor)
For and on behalf of , Statutory Auditor

30 September 2024

 

ISH Properties Limited

(Registration number: 05823839)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

351,316

351,316

Current assets

 

Debtors

5

2,082,798

2,073,168

Cash at bank and in hand

 

151,358

107,434

 

2,234,156

2,180,602

Creditors: Amounts falling due within one year

(1,740,295)

(1,670,389)

Net current assets

 

493,861

510,213

Total assets less current liabilities

 

845,177

861,529

Creditors: Amounts falling due after more than one year

(898,522)

(911,274)

Accruals and deferred income

 

(3,600)

(3,600)

Net liabilities

 

(56,945)

(53,345)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(57,045)

(53,445)

Shareholders' deficit

 

(56,945)

(53,345)

For the financial year ending 31 May 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 30 September 2024
 

 

ISH Properties Limited

(Registration number: 05823839)
Abridged Balance Sheet as at 31 May 2024

.........................................
Dr Jaswir Singh Sanghera
Director

 

ISH Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Charles Rippin & Turner
Middlesex House
130 College Road
Harrow
Middlesex
HA1 1BQ

These financial statements were authorised for issue by the director on 30 September 2024.

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 abridged 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 abridged 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

ISH Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 0 (2023 - 1).

 

ISH Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

4

Investments

Total
£

Cost or valuation

At 1 June 2023

351,316

Provision

Carrying amount

At 31 May 2024

351,316

At 31 May 2023

351,316

2024
£

2023
£

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share capital of £1 each

100

100

100

100