Inremco 26 Limited Filleted accounts for Companies House (small and micro)

INREMCO 26 LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01775797

Inremco 26 Limited

Filleted Unaudited Financial Statements

30 April 2020

Inremco 26 Limited

Statement of Financial Position

30 April 2020

	2020		2019
Note	£	£	£

Fixed assets

Investments	6		128,038	128,038

Current assets

Debtors	7	97,814,856	92,562,394
Cash at bank and in hand		2,154,285	2,187,521
		-------------	-------------
		99,969,141	94,749,915

Creditors: amounts falling due within one year	8	39,257,404		39,156,002
		-------------		-------------
Net current assets			60,711,737	55,593,913
			-------------	-------------
Total assets less current liabilities			60,839,775	55,721,951
			-------------	-------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	60,839,675	55,721,851
	-------------	-------------
Shareholders funds	60,839,775	55,721,951
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 28 July 2021 , and are signed on behalf of the board by:

D Feldman

Director

Company registration number: 01775797

Inremco 26 Limited

Notes to the Financial Statements

Year ended 30 April 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The directors of the company in managing the company's affairs have had to make certain assumptions and judgements. These judgements are continually reviewed and are based upon past experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises management fees and commissions receivable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2019: 8 ).

5. Tax on profit

Major components of tax expense/(income)

	2020	2019
	£	£

Current tax:

UK current tax expense	9,011	–
Receipts for group relief surrender	–	(64,334)
	-------	--------
Total current tax	9,011	( 64,334)
	-------	--------
	-------	--------
Tax on profit	9,011	( 64,334)
	-------	--------

6. Investments

	Other investments other than loans
	£
Cost
At 1 May 2019 and 30 April 2020	128,038
	---------
Impairment
At 1 May 2019 and 30 April 2020	–
	---------

Carrying amount
At 30 April 2020	128,038
	---------
At 30 April 2019	128,038
	---------

The company directly held 100% of £1 Ordinary shares in the following UK Incorporated companies.

Circletower Ltd

Starleague Ltd

Lofalcon Ltd

Bigleague Ltd

Guidewell Ltd

Bath Road (Cheltenham) Ltd

Gatebrook Ltd

Portvale Management Ltd

Assetblue Holdings Ltd

The subsidiaries of Inremco 26 Limited , held 100% of £1 ordinary shares in the following companies.

Betterphase Ltd

Worldcatch Ltd

Eastbourne Property Investment Company Ltd

Feelgood Developments Ltd

Castledock Ltd

Rathdale Ltd

Portview Estates Ltd

Tepford Ltd

Exikon Ltd

Assetblue Ltd

7. Debtors

	2020	2019
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	97,813,558	92,556,808
Other debtors	1,298	5,586
	-------------	-------------
	97,814,856	92,562,394
	-------------	-------------

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Amounts owed to related undertakings	39,229,583	39,140,442
Corporation tax	9,011	–
Other creditors	18,810	15,560
	-------------	-------------
	39,257,404	39,156,002
	-------------	-------------

9. Related party transactions

Loan account balances with related companies are disclosed separately in the debtors and creditors notes to the accounts.