IRIS Accounts Production v24.3.2.46 07879192 director 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh078791922023-03-31078791922024-03-31078791922023-04-012024-03-31078791922022-03-31078791922022-04-012023-03-31078791922023-03-3107879192ns15:EnglandWales2023-04-012024-03-3107879192ns14:PoundSterling2023-04-012024-03-3107879192ns10:Director12023-04-012024-03-3107879192ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107879192ns10:SmallEntities2023-04-012024-03-3107879192ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3107879192ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107879192ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107879192ns10:AbridgedAccounts2023-04-012024-03-3107879192ns10:OrdinaryShareClass12023-04-012024-03-3107879192ns10:RegisteredOffice2023-04-012024-03-3107879192ns5:CurrentFinancialInstruments2024-03-3107879192ns5:CurrentFinancialInstruments2023-03-3107879192ns5:Non-currentFinancialInstruments2024-03-3107879192ns5:Non-currentFinancialInstruments2023-03-3107879192ns5:ShareCapital2024-03-3107879192ns5:ShareCapital2023-03-3107879192ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3107879192ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3107879192ns5:RetainedEarningsAccumulatedLosses2024-03-3107879192ns5:RetainedEarningsAccumulatedLosses2023-03-3107879192ns5:PlantMachinery2023-04-012024-03-3107879192ns5:FurnitureFittings2023-04-012024-03-3107879192ns5:PlantMachinery2023-03-3107879192ns5:PlantMachinery2024-03-3107879192ns5:PlantMachinery2023-03-3107879192ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3107879192ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3107879192ns5:DeferredTaxation2023-03-3107879192ns5:DeferredTaxation2023-04-012024-03-3107879192ns5:DeferredTaxation2024-03-3107879192ns10:OrdinaryShareClass12024-03-3107879192ns5:RetainedEarningsAccumulatedLosses2023-03-3107879192ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3107879192ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: 07879192 (England and Wales)


I & S Dinc Properties Ltd

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






I & S Dinc Properties Ltd (Registered number: 07879192)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


I & S Dinc Properties Ltd

Company Information
for the year ended 31 March 2024







DIRECTOR: Mr I Dinc





REGISTERED OFFICE: 239-241 Kennington Lane
London
SE11 5QU





REGISTERED NUMBER: 07879192 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
I & S Dinc Properties Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of I & S Dinc Properties Ltd for the year ended 31 March 2024 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of I & S Dinc Properties Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of I & S Dinc Properties Ltd and state those matters that we have agreed to state to the director of I & S Dinc Properties Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than I & S Dinc Properties Ltd and its director for our work or for this report.

It is your duty to ensure that I & S Dinc Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of I & S Dinc Properties Ltd. You consider that I & S Dinc Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of I & S Dinc Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


20 March 2025

I & S Dinc Properties Ltd (Registered number: 07879192)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 6,472 7,314
Investment property 5 1,935,000 1,935,000
1,941,472 1,942,314

CURRENT ASSETS
Debtors 6 1,762,559 1,705,270
Cash at bank and in hand 14,291 13,839
1,776,850 1,719,109
CREDITORS
Amounts falling due within one year 7 819,285 779,279
NET CURRENT ASSETS 957,565 939,830
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,899,037

2,882,144

CREDITORS
Amounts falling due after more than one
year

8

(1,322,446

)

(1,322,446

)

PROVISIONS FOR LIABILITIES 10 (255,737 ) (255,511 )
NET ASSETS 1,320,854 1,304,187

I & S Dinc Properties Ltd (Registered number: 07879192)

Statement of Financial Position - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 50,000 50,000
Non-distributable reserves 12 1,038,386 1,038,386
Retained earnings 12 232,468 215,801
SHAREHOLDERS' FUNDS 1,320,854 1,304,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2025 and were signed by:





Mr I Dinc - Director


I & S Dinc Properties Ltd (Registered number: 07879192)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

I & S Dinc Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover includes revenue earned from investments in properties. The revenue is recognised on an accrual basis in accordance with the tenancy agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


I & S Dinc Properties Ltd (Registered number: 07879192)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 20,225
DEPRECIATION
At 1 April 2023 12,911
Charge for year 842
At 31 March 2024 13,753
NET BOOK VALUE
At 31 March 2024 6,472
At 31 March 2023 7,314

I & S Dinc Properties Ltd (Registered number: 07879192)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,935,000
NET BOOK VALUE
At 31 March 2024 1,935,000
At 31 March 2023 1,935,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 857,545
Valuation in 2018 413,750
Valuation in 2021 21,250
Cost 642,455
1,935,000

Company directors, as required by FRS 102, undertook to remeasure all investment properties to fair values at reporting date. They have assessed the fair values based on the properties of the similar in nature and in the surrounding areas where these properties are located. Based on the information gathered from justifiable sources, it was concluded that there were no significant movement in the market price to be reported and values to be equal to net book value at balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 196
Other debtors 1,762,559 1,705,074
1,762,559 1,705,270

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,628 12,628
Trade creditors 5,304 5,660
Taxation and social security 50,827 40,169
Other creditors 750,526 720,822
819,285 779,279

I & S Dinc Properties Ltd (Registered number: 07879192)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,322,446 1,322,446

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,290,000 1,290,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 1,290,000 1,290,000

Bank loans are secured over the freehold property known as 320 Mare street.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 255,737 255,511

Deferred
tax
£   
Balance at 1 April 2023 255,511
Charge to Income Statement during year 226
Balance at 31 March 2024 255,737

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50,000 Ordinary £1 50,000 50,000

I & S Dinc Properties Ltd (Registered number: 07879192)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

12. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 1 April 2023 215,801 1,038,386 1,254,187
Profit for the year 16,667 16,667
At 31 March 2024 232,468 1,038,386 1,270,854

13. RELATED PARTY DISCLOSURES

Transactions with related parties:

Loans due to member of key management personnel at balance sheet date £55,484 (2023:£48,138).
Interest free loan payable on demand.

Loans due from entities under common and joint control undertakings at balance sheet date £1,761,052 (2023:£1,702,528). Loans bear interest at market rate and have no fixed repayment terms.

Loans due to entities under common and joint control undertakings at balance sheet date £690,655(2023: £667,299). Loans bear interest at market rate and have no fixed repayment terms.