I.S.A. (Holdings) Limited - Accounts to registrar (filleted) - small 18.2

I.S.A. (Holdings) Limited - Accounts to registrar (filleted) - small 18.2

I.S.A.(HOLDINGS)LIMITED - Company Information

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REGISTERED NUMBER: 00601063 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2020

for

I.S.A. (Holdings) Limited
I.S.A. (Holdings) Limited (Registered number: 00601063)

Contents of the Financial Statements
for the year ended 31 December 2020










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


I.S.A. (Holdings) Limited

Company Information
for the year ended 31 December 2020







DIRECTORS: R Paice
AP Kent
MB Paice



SECRETARY: MB Paice



REGISTERED OFFICE: 4th Floor
St James House
St James Square
Cheltenham
GL50 3PR



REGISTERED NUMBER: 00601063 (England and Wales)



ACCOUNTANTS: Crowe U.K. LLP
Fourth Floor St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR



SOLICITORS: Lawrence Stephens Solicitors
50 Farringdon Road
London
EC1M 3HE
Page 1
I.S.A. (Holdings) Limited (Registered number: 00601063)

Statement of Financial Position
31 December 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 94,399 104,968
Investment property 5 28,000,000 10,070,000
28,094,399 10,174,968

CURRENT ASSETS
Debtors 6 1,098,479 14,031,584
Cash at bank 324,766 218,478
1,423,245 14,250,062
CREDITORS
Amounts falling due within one year 7 1,186,989 543,034
NET CURRENT ASSETS 236,256 13,707,028
TOTAL ASSETS LESS CURRENT
LIABILITIES
28,330,655
23,881,996

CREDITORS
Amounts falling due after more than one
year
8
(4,259,025
)
(3,967,010
)

PROVISIONS FOR LIABILITIES (2,006,821 ) (1,749,545 )
NET ASSETS 22,064,809 18,165,441

CAPITAL AND RESERVES
Called up share capital 19,570 19,570
Capital redemption reserve 4,300 4,300
Fair value reserve 9 10,492,094 7,437,196
Retained earnings 11,548,845 10,704,375
SHAREHOLDERS' FUNDS 22,064,809 18,165,441

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The notes form part of these financial statements

Page 2 continued...
I.S.A. (Holdings) Limited (Registered number: 00601063)

Statement of Financial Position - continued
31 December 2020


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2021 and were signed on its behalf by:





AP Kent - Director


The notes form part of these financial statements

Page 3
I.S.A. (Holdings) Limited (Registered number: 00601063)

Notes to the Financial Statements
for the year ended 31 December 2020


1. STATUTORY INFORMATION

I.S.A. (Holdings) 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

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable for rental income net of VAT. Investment income is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Properties held for their investment potential, with any income being negotiated at arm's length, are not subject to periodic charges of depreciation. They are included in the statement of financial position at their fair value. Changes in their value are charged to the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 3 (2019 - 2 ) .

Page 4 continued...
I.S.A. (Holdings) Limited (Registered number: 00601063)

Notes to the Financial Statements - continued
for the year ended 31 December 2020


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2020 281,892 52,759 75,091 2,667 412,409
Additions - - 389 2,068 2,457
At 31 December 2020 281,892 52,759 75,480 4,735 414,866
DEPRECIATION
At 1 January 2020 203,332 36,065 65,377 2,667 307,441
Charge for year 5,638 4,173 2,526 689 13,026
At 31 December 2020 208,970 40,238 67,903 3,356 320,467
NET BOOK VALUE
At 31 December 2020 72,922 12,521 7,577 1,379 94,399
At 31 December 2019 78,560 16,694 9,714 - 104,968

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2020 10,070,000
Additions 14,618,178
Revaluations 3,311,822
At 31 December 2020 28,000,000
NET BOOK VALUE
At 31 December 2020 28,000,000
At 31 December 2019 10,070,000

Investment properties were valued by the directors on a market value basis at 31 December 2020 in accordance with note 2.

Fair value at 31 December 2020 is represented by:
£   
Valuation in 2016 10,070,000
Valuation in 2020 17,930,000
28,000,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 57,223 -
Other debtors 1,041,256 14,031,584
1,098,479 14,031,584

Page 5 continued...
I.S.A. (Holdings) Limited (Registered number: 00601063)

Notes to the Financial Statements - continued
for the year ended 31 December 2020


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 7,696 84,141
Taxation and social security 41,493 4,515
Other creditors 1,137,800 454,378
1,186,989 543,034

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2020 2019
£    £   
Other creditors 4,259,025 3,967,010

9. RESERVES
Fair
value
reserve
£   
At 1 January 2020 7,437,196
Revaluation of investment
property 3,311,822
Deferred tax (256,924 )

At 31 December 2020 10,492,094

10. RELATED PARTY DISCLOSURES

Included in other debtors is a loan to the directors' account in the sum of £1,014 (2019: £7,879). The loan is unsecured, accrues interest at HM Revenue and Customs ("HMRC") official rate and was repaid after the year end date.

Included in other creditors is a loan due to the R Paice 1995 Settlement, a trust of which R Paice is a trustee, in the sum of £225,431 (2019: £226,000). The loan is unsecured, interest free and carries no fixed date of repayment.

Included in other creditors is a loan due to the R Paice 1993 Settlement, a trust of which R Paice is a trustee, in the sum of £1,000 (2019: £1,000). The loan is unsecured, interest free and carries no fixed date of repayment.

Included in other creditors: amounts due in over one year, is a loan due to the Richard Paice 2007 Settlement, a trust of which R Paice is a trustee, in the sum of £3,204,527 (2019: £3,205,000). The loan is unsecured, interest free and is due for repayment by 31 December 2025.

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