REGISTERED NUMBER: 14412995 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

INT ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A S Kounnis

P D A Karras

REGISTERED OFFICE:

1 Kings Avenue

London

N21 3NA

REGISTERED NUMBER:

14412995 (England and Wales)

AUDITORS:

AGK Partnership Ltd

Chartered Accountants & Statutory Auditors

1 Kings Avenue

London

N21 3NA

FIXED ASSETS

Property, plant and equipment

4

75,789

38,162

Investment property

5

2,797,277

2,759,331

2,873,066

2,797,493

CURRENT ASSETS

Inventories

6

8,173

-

Debtors

7

155,712

92,193

Cash at bank and in hand

25,911

48,014

189,796

140,207

CREDITORS

Amounts falling due within one year

8

2,057,331

770,035

NET CURRENT LIABILITIES

(1,867,535

)

(629,828

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,005,531

2,167,665

CREDITORS

Amounts falling due after more than one year

9

-

(850,000

)

PROVISIONS FOR LIABILITIES

11

(18,947

)

(9,541

)

NET ASSETS

986,584

1,308,124

CAPITAL AND RESERVES

Called up share capital

12

272

272

Share premium

13

1,701,624

1,701,624

Retained earnings

13

(715,312

)

(393,772

)

SHAREHOLDERS' FUNDS

986,584

1,308,124

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 Board of Directors and authorised for issue on 24 October 2025 and were signed on its behalf by:

A S Kounnis - Director

1.	STATUTORY INFORMATION

Int Estates 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.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as and when they fall due. Also, the director will continue to support the company when required. Furthermore, the holding company has undertaken to provide continuing financial support so that the company is able to pay its debts as and when they fall due.

Significant judgements and estimates

In the application of the company's accounting policies, the director is 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 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.

Revenue

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

The Company has analysed its business activities and applied the 5-step model prescribed by IFRS 15 to each material line of business, as outlined below:

Sale of accommodation

The contract to provide accommodation is established when the customer books accommodation. The

performance obligation is the right to use accommodation for a given number of nights, and the transaction price is the room rate for each night determined at the time of the booking. The performance obligation is met when the customer is given the right to use the accommodation, and so revenue is recognised for each night as it takes place, at the room rate for that night.

Customers may pay in advance for accommodation. In this case the Company has received consideration for

services not yet provided. This is treated as a contract liability until the performance obligation is met.

Sale of food and beverage

The contract is established when the customer orders the food or drink item and the performance obligation is the provision of food and drink by the outlet. The performance obligation is satisfied when the food and drink is delivered to the customer, and revenue is recognised at this point at the price for the items purchased. Payment is made on the same day and consequently there are no contract assets or liabilities.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery

20% on reducing balance

Fixtures and fittings

20% on reducing balance

Computer equipment

20% on reducing balance

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit or loss.

Investment property

Investment property, which is property held to earn rentals or for capital appreciation or both, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure such as legal fees, property transfer taxes, and other transaction costs.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

An investment property is derecognised upon disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from the continued use of the asset.

Any gain or loss arising on derecognition of the property (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in profit or loss in the period in which the property is derecognised.

Inventories

Inventories are stated at the lower of cost and net realisable value. Cost includes the purchase price and other directly attributable costs of bringing the inventories to their present location and condition.

Net realisable value represents the estimated selling price less all estimated costs of completion and selling expenses. Where the net realisable value of inventories is lower than their cost, inventories are written down, and the impairment is recognised as an expense in the profit and loss accounts.

The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.

Financial instruments

Basic financial assets and liabilities, which include debtors, creditors 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, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

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.

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 16 (2023 - 25 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2023

7,285

23,254

17,164

47,703

Additions

19,858

25,313

11,403

56,574

At 31 October 2024

27,143

48,567

28,567

104,277

DEPRECIATION

At 1 November 2023

1,457

4,651

3,433

9,541

Charge for year

5,137

8,783

5,027

18,947

At 31 October 2024

6,594

13,434

8,460

28,488

NET BOOK VALUE

At 31 October 2024

20,549

35,133

20,107

75,789

At 31 October 2023

5,828

18,603

13,731

38,162

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2023

2,759,331

Additions

37,946

At 31 October 2024

2,797,277

NET BOOK VALUE

At 31 October 2024

2,797,277

At 31 October 2023

2,759,331

The directors consider that the market values of the properties were as per the values stated in the financial statements.

6.	INVENTORIES

2024

2023

£

£

Stocks

8,173

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

43,307

48,216

Other debtors

112,405

43,977

155,712

92,193

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

41,467

40,740

Amounts owed to group undertakings

1,078,429

703,660

Taxation and social security

13,578

17,280

Other creditors

923,857

8,355

2,057,331

770,035

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

-

850,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Other loans

850,000

850,000

Other loans is secured by way of fixed charge on the property and other assets of the company and contains a negative pledge.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

18,947

9,541

Deferred

tax

£

Balance at 1 November 2023

9,541

Provided during year

9,406

Balance at 31 October 2024

18,947

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

272

Ordinary Shares

1

272

272

13.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 November 2023

(393,772

)

1,701,624

1,307,852

Deficit for the year

(321,540

)

(321,540

)

At 31 October 2024

(715,312

)

1,701,624

986,312

14.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alekos Christofi (FCCA) (Senior Statutory Auditor)

for and on behalf of AGK Partnership Ltd

15.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

16.	POST BALANCE SHEET EVENTS

No significant events have occurred between the reporting date, 31 Oct 2024, and the date the financial

statements were authorized for issue that would require adjustment to or disclosure in the financial statements.

17.	ULTIMATE CONTROLLING PARTY

The company's immediate parent is The Intsol Group Ltd, incorporated in England and Wales. The ultimate controlling parties are the shareholder's of The Intsol Group Ltd by virtue of their holding in the parent company.

The largest and smallest group in which the results of the company are consolidated is that headed by The

Intsol Group Ltd which is incorporated in United Kingdom. The consolidated financial statements of this

company are available to the public and may be obtained from the company's registered office, being 1 Kings Avenue, London, United Kingdom, N21 3NA.

18.	COMPARATIVES

The comparatives figures in the accounts are not comparable as the current period of these accounts is twelve months as compared to slightly over twelve months in previous periods.