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Instalrite Properties Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

Registration number: 9211439

 

Instalrite Properties Ltd

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Instalrite Properties Ltd

(Registration number: 9211439)
Statement of financial position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

629,340

629,340

Current assets

 

Debtors

5

79,689

72,006

Cash at bank and in hand

 

251

555

 

79,940

72,561

Creditors: Amounts falling due within one year

6

(141,829)

(92,818)

Net current liabilities

 

(61,889)

(20,257)

Total assets less current liabilities

 

567,451

609,083

Creditors: Amounts falling due after more than one year

6

(448,968)

(498,409)

Net assets

 

118,483

110,674

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

118,383

110,574

Shareholders' funds

 

118,483

110,674

For the financial year ending 30 September 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 27 June 2025
 

.........................................
Mr S Papworth
Director

 

Instalrite Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

These financial statements were authorised for issue by the director on 27 June 2025.

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 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 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

Not depreciated but subject to impairment review by directors

 

Instalrite Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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.

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 income statement 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 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 October 2023

629,340

629,340

At 30 September 2024

629,340

629,340

Depreciation

Carrying amount

At 30 September 2024

629,340

629,340

At 30 September 2023

629,340

629,340

5

Debtors

Current

2024
£

2023
£

Trade debtors

2,340

-

Other debtors

77,349

72,006

 

79,689

72,006

 

Instalrite Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

80,336

73,512

Taxation and social security

 

9,290

11,840

Accruals and deferred income

 

575

575

Other creditors

 

51,628

6,891

 

141,829

92,818

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

448,968

498,409

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Instalrite Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

421,856

465,783

Other borrowings

27,112

32,626

448,968

498,409

Current loans and borrowings

2024
£

2023
£

Bank borrowings

74,822

67,998

Other borrowings

5,514

5,514

80,336

73,512

Other borrowings

9

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

At 30 September 2024
£

Mr S Papworth

Interest on directors loan @2.25%

-

77,349

77,349