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REGISTERED NUMBER: 07726358 (England and Wales)











Financial Statements

for the Year Ended 31 January 2025

for

I & N Property Limited

I & N Property Limited (Registered number: 07726358)

Contents of the Financial Statements
for the Year Ended 31 January 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


I & N Property Limited

Company Information
for the Year Ended 31 January 2025







DIRECTOR: I G Nicholl



REGISTERED OFFICE: Unit 5
Vernon Street Industrial Estate
Shirebrook
Mansfield
Nottinghamshire
NG20 8SS



REGISTERED NUMBER: 07726358 (England and Wales)



ACCOUNTANTS: Mabe Allen LLP
Chartered Accountants
The Old Manse
29 St. Mary Street
Ilkeston
Derbyshire
DE7 8AB



BANKERS: National Westminster Bank Plc
9 Church Street
Mansfield
Nottingham
NG18 1AF

I & N Property Limited (Registered number: 07726358)

Balance Sheet
31 January 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 113,884 119,837
Investment property 5 1,500,000 1,500,000
1,613,884 1,619,837

CURRENT ASSETS
Stocks 6 54,020 51,448
Debtors 7 880,539 804,216
Cash at bank and in hand 8,517 1,756
943,076 857,420
CREDITORS
Amounts falling due within one year 8 1,014,988 979,887
NET CURRENT LIABILITIES (71,912 ) (122,467 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,541,972

1,497,370

CREDITORS
Amounts falling due after more than one
year

9

(3,333

)

(13,333

)

PROVISIONS FOR LIABILITIES (308,538 ) (303,386 )
NET ASSETS 1,230,101 1,180,651

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 901,002 901,002
Retained earnings 328,999 279,549
SHAREHOLDERS' FUNDS 1,230,101 1,180,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

I & N Property Limited (Registered number: 07726358)

Balance Sheet - continued
31 January 2025


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

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 6 August 2025 and were signed by:





I G Nicholl - Director


I & N Property Limited (Registered number: 07726358)

Notes to the Financial Statements
for the Year Ended 31 January 2025


1. STATUTORY INFORMATION

I & N Property Limited 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.

2. ACCOUNTING POLICIES

Principal accounting policies
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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same financial statements.

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

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 - 15% 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


I & N Property Limited (Registered number: 07726358)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025


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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2024 347,299 2,430 349,729
Additions 13,280 - 13,280
At 31 January 2025 360,579 2,430 363,009
DEPRECIATION
At 1 February 2024 227,779 2,113 229,892
Charge for year 19,154 79 19,233
At 31 January 2025 246,933 2,192 249,125
NET BOOK VALUE
At 31 January 2025 113,646 238 113,884
At 31 January 2024 119,520 317 119,837

I & N Property Limited (Registered number: 07726358)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024
and 31 January 2025 1,500,000
NET BOOK VALUE
At 31 January 2025 1,500,000
At 31 January 2024 1,500,000

Fair value at 31 January 2025 is represented by:
£   
Valuation in 2024 1,188,587
Cost 311,413
1,500,000

Investment property was valued on an open market basis on 31 January 2024 by the director, I G Nicholl.

6. STOCKS
2025 2024
£    £   
Stocks 54,020 51,448

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 6,957 8,725
Other debtors 873,582 795,491
880,539 804,216

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,000 10,000
Amounts owed to connected companies 810,000 785,500
Taxation and social security 45,576 75,161
Other creditors 149,412 109,226
1,014,988 979,887

I & N Property Limited (Registered number: 07726358)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans 3,333 13,333

10. SECURED DEBTS

The bank loans are secured by a fixed and floating charge over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Fair
value
reserve
£   
At 1 February 2024
and 31 January 2025 901,002

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

2025 2024
£    £   
I G Nicholl
Balance outstanding at start of year 473,422 443,811
Amounts advanced 156,844 144,459
Amounts repaid (133,163 ) (114,848 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 497,103 473,422