Company registration number 00718294 (England and Wales)
INPAUL INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
INPAUL INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
INPAUL INVESTMENTS LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
225,584
257,811
Investment property
6
4,000,000
4,000,000
Investments
5
550,000
550,000
4,775,584
4,807,811
Current assets
Cash at bank and in hand
43,782
284,558
Creditors: amounts falling due within one year
7
(164,282)
(141,053)
Net current (liabilities)/assets
(120,500)
143,505
Total assets less current liabilities
4,655,084
4,951,316
Creditors: amounts falling due after more than one year
8
(253,712)
(504,029)
Provisions for liabilities
(983,426)
(747,404)
Net assets
3,417,946
3,699,883
Capital and reserves
Called up share capital
9
1,000
1,000
Non-distributable profits reserve
10
2,950,277
3,186,299
Distributable profit and loss reserves
466,669
512,584
Total equity
3,417,946
3,699,883
INPAUL INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 2 -

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 March 2025 and are signed on its behalf by:
Mr P Fishman
Director
Company registration number 00718294 (England and Wales)
INPAUL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Inpaul Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 34 Hampstead Lane, London, N6 4NT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue, described as Turnover, represents rents receivable.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line

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.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

 

No depreciation is provided in respect of investment properties applying the fair value model.

1.5
Fixed asset investments

Investments in unquoted equity shares are measured at fair value. Changes in fair value are recognised in the profit and loss account.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

INPAUL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. The company holds only basic financial instruments, which comprise cash and cash equivalents, trade and other debtors, trade and other creditors and loans and borrowings.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. Deferred tax is charged or credited in the profit and loss account.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

INPAUL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
2
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2023 and 30 June 2024
322,265
Depreciation and impairment
At 1 July 2023
64,454
Depreciation charged in the year
32,227
At 30 June 2024
96,681
Carrying amount
At 30 June 2024
225,584
At 30 June 2023
257,811
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
550,000
550,000
6
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
4,000,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out in September 2019 by Atom Bank Plc for the purposes of a new loan advance. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

 

The directors are of the opinion that the fair value of the investment property at 30 June 2024 remains unchanged.

INPAUL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
6
Investment property
(Continued)
- 6 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
66,297
66,297
7
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
9,358
33
Other creditors
154,924
141,020
164,282
141,053

Included in other creditors is £82,522 (2023: £22,902) owing to the directors. The loans are interest free.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
253,712
504,029

The loan is secured by a fixed and floating charge on the company's freehold property.

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1,000
1,000
1,000
1,000
10
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
3,186,299
3,186,299
Non-distributable loss in the year
(236,022)
-
At the end of the year
2,950,277
3,186,299
2024-06-302023-07-01falsefalsefalse14 March 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr Paul FishmanIan FishmanMr J Oliver-FishmanMr T Oliver-Fishman007182942023-07-012024-06-30007182942024-06-30007182942023-06-3000718294core:LandBuildings2024-06-3000718294core:LandBuildings2023-06-3000718294core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3000718294core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3000718294core:Non-currentFinancialInstrumentscore:AfterOneYear2024-06-3000718294core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3000718294core:CurrentFinancialInstruments2024-06-3000718294core:CurrentFinancialInstruments2023-06-3000718294core:ShareCapital2024-06-3000718294core:ShareCapital2023-06-3000718294core:FurtherSpecificReserve1ComponentTotalEquity2024-06-3000718294core:FurtherSpecificReserve1ComponentTotalEquity2023-06-3000718294core:RetainedEarningsAccumulatedLosses2024-06-3000718294core:RetainedEarningsAccumulatedLosses2023-06-3000718294bus:Director12023-07-012024-06-3000718294core:LeaseholdImprovements2023-07-012024-06-30007182942022-07-012023-06-3000718294core:LandBuildings2023-06-3000718294core:LandBuildings2023-07-012024-06-30007182942023-06-3000718294core:Non-currentFinancialInstruments2024-06-3000718294core:Non-currentFinancialInstruments2023-06-3000718294bus:PrivateLimitedCompanyLtd2023-07-012024-06-3000718294bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3000718294bus:FRS1022023-07-012024-06-3000718294bus:AuditExemptWithAccountantsReport2023-07-012024-06-3000718294bus:Director22023-07-012024-06-3000718294bus:Director32023-07-012024-06-3000718294bus:Director42023-07-012024-06-3000718294bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP