Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06640873 2023-04-01 2024-03-31 06640873 2022-04-01 2023-03-31 06640873 2024-03-31 06640873 2023-03-31 06640873 c:Director1 2023-04-01 2024-03-31 06640873 d:FreeholdInvestmentProperty 2024-03-31 06640873 d:FreeholdInvestmentProperty 2023-03-31 06640873 d:CurrentFinancialInstruments 2024-03-31 06640873 d:CurrentFinancialInstruments 2023-03-31 06640873 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06640873 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06640873 d:ShareCapital 2024-03-31 06640873 d:ShareCapital 2023-03-31 06640873 d:CapitalRedemptionReserve 2024-03-31 06640873 d:CapitalRedemptionReserve 2023-03-31 06640873 d:RetainedEarningsAccumulatedLosses 2024-03-31 06640873 d:RetainedEarningsAccumulatedLosses 2023-03-31 06640873 c:OrdinaryShareClass1 2023-04-01 2024-03-31 06640873 c:OrdinaryShareClass1 2024-03-31 06640873 c:OrdinaryShareClass1 2023-03-31 06640873 c:FRS102 2023-04-01 2024-03-31 06640873 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06640873 c:FullAccounts 2023-04-01 2024-03-31 06640873 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06640873 2 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 06640873














INVERNOADEN LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
INVERNOADEN LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 5


 
INVERNOADEN LIMITED
REGISTERED NUMBER:06640873

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
662,462
662,462

  
662,462
662,462

Current assets
  

Debtors: amounts falling due within one year
 5 
2,328,297
1,948,359

Cash at bank and in hand
 6 
245,147
649,926

  
2,573,444
2,598,285

Creditors: amounts falling due within one year
 7 
(529,173)
(232,778)

Net current assets
  
 
 
2,044,271
 
 
2,365,507

Total assets less current liabilities
  
2,706,733
3,027,969

  

Net assets
  
2,706,733
3,027,969


Capital and reserves
  

Called up share capital 
 8 
2,800,100
3,000,100

Capital redemption reserve
  
200,000
-

Profit and loss account
  
(293,367)
27,869

  
2,706,733
3,027,969


1

 
INVERNOADEN LIMITED
REGISTERED NUMBER:06640873
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M P M Olive
Director

Date: 17 February 2025

The notes on pages 3 to 5 form part of these financial statements.

2

 
INVERNOADEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Invernoaden Limited is a private company, limited by shares, registered in England and Wales, registration number 06640873. The registered address of the company is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company is property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents amounts receivable for the rental of investment properties and is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3

 
INVERNOADEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by director or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties, loans to related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
662,462



At 31 March 2024
662,462

The 2024 valuations were made by the director, on an open market value for existing use basis.




If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
662,462
662,462

4

 
INVERNOADEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
2,324,587
1,855,433

Prepayments and accrued income
3,710
92,926

2,328,297
1,948,359



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
245,147
649,926



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
140,361
222,771

Other taxation and social security
39,108
-

Other creditors
44,084
2,073

Accruals and deferred income
305,620
7,934

529,173
232,778



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2,800,100 (2023 - 3,000,100) Ordinary shares of £1.00 each
2,800,100
3,000,100


On 11 May 2023, the issued share capital of the company was reduced from £3,000,100 to 2,800,100 by cancelling £200,000 shares of £1 each.


9.


Related party transactions

Included in other creditors is an amount of £32,255 (2023 - £2,073) due to the director of the company. The loan is interest free and repayable on demand.

 
5