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Unaudited Financial Statements for the Year Ended 31 August 2021 |
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INVESTECK PROPERTY SOLUTIONS LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 August 2021 |
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for |
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INVESTECK PROPERTY SOLUTIONS LIMITED |
INVESTECK PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 11536805) |
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Contents of the Financial Statements |
for the year ended 31 August 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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INVESTECK PROPERTY SOLUTIONS LIMITED |
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Company Information |
for the year ended 31 August 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Preston Park House |
South Road |
Brighton |
East Sussex |
BN1 6SB |
INVESTECK PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 11536805) |
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Balance Sheet |
31 August 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS/(LIABILITIES) |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
INVESTECK PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 11536805) |
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Balance Sheet - continued |
31 August 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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INVESTECK PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 11536805) |
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Notes to the Financial Statements |
for the year ended 31 August 2021 |
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1. | STATUTORY INFORMATION |
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Investeck Property Solutions Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the fair value of consideration received or receivable net of VAT and rental income is recognised on an accruals basis. |
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Tangible fixed assets |
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Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Computer equipment | 33% on cost |
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Investment property |
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
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The methods and significant assumptions used to ascertain the fair value at the balance sheet date and fair value movement included in the profit for the year are as follows: |
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The properties have been valued taking into account house price inflation and open market sales conditions, by the company director. |
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Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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INVESTECK PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 11536805) |
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Notes to the Financial Statements - continued |
for the year ended 31 August 2021 |
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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. |
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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. |
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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. |
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Impairment policy |
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
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Going concern |
The directors have agreed to support the company as necessary in the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
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The director feels that the company's ability to operate on a going concern basis has not been adversely affected by COVID-19. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 September 2020 |
and 31 August 2021 |
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DEPRECIATION |
At 1 September 2020 |
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Charge for year |
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At 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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INVESTECK PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 11536805) |
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Notes to the Financial Statements - continued |
for the year ended 31 August 2021 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 September 2020 |
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Revaluations | 42,070 |
At 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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Fair value at 31 August 2021 is represented by: |
£ |
Valuation in 2019 | 157,930 |
Valuation in 2021 | 42,070 |
200,000 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Mortgage | 132,904 | - |
INVESTECK PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 11536805) |
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Notes to the Financial Statements - continued |
for the year ended 31 August 2021 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | 1 | 1 | 1 |