The Istoria Group Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07500323 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

THE ISTORIA GROUP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P G Atherton

C E Menzies

S L Rowe

SECRETARY:

P G Atherton

REGISTERED OFFICE:

Unit 1.1 Paintworks

Bristol

United Kingdom

BS4 3EH

REGISTERED NUMBER:

07500323 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Investments

4

20,478

20,558

Investment property

5

1,245,000

1,245,000

1,265,478

1,265,558

CURRENT ASSETS

Debtors

6

-

6,391

Cash at bank

816

3,684

816

10,075

CREDITORS

Amounts falling due within one year

7

416,313

386,559

NET CURRENT LIABILITIES

(415,497

)

(376,484

)

TOTAL ASSETS LESS CURRENT LIABILITIES

849,981

889,074

CREDITORS

Amounts falling due after more than one year

8

(288,782

)

(308,845

)

PROVISIONS FOR LIABILITIES

10

(28,683

)

(23,471

)

NET ASSETS

532,516

556,758

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

531,516

555,758

SHAREHOLDERS' FUNDS

532,516

556,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 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 28 September 2023 and were signed on its behalf by:

S L Rowe - Director

1.	STATUTORY INFORMATION

The Istoria Group 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.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 4 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertaki

£

COST

At 1 January 2022

20,558

Disposals

(80

)

At 31 December 2022

20,478

NET BOOK VALUE

At 31 December 2022

20,478

At 31 December 2021

20,558

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2022

and 31 December 2022

1,245,000

NET BOOK VALUE

At 31 December 2022

1,245,000

At 31 December 2021

1,245,000

Fair value at 31 December 2022 is represented by:

£

Valuation in 2018

164,164

Valuation in 2020

39,534

Cost

1,041,302

1,245,000

Investment properties were valued on an open market basis on 7 September 2020 by Alder King Property Consultants .

Investment properties have not been revalued, since directors agree with their fair value as of 31 December 2022.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Other debtors

-

6,391

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans and overdrafts

23,458

26,852

Trade creditors

3,912

-

Taxation and social security

5,569

8,724

Other creditors

383,374

350,983

416,313

386,559

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans

288,782

308,845

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

194,950

201,438

9.	SECURED DEBTS

The company's bankers have fixed and floating charges over the assets of the company and its subsidiaries. The bank also holds security over the company's investment property.

10.	PROVISIONS FOR LIABILITIES

31.12.22

31.12.21

£

£

Deferred tax

Tax losses carried forward

5,212

-

Other timing differences

23,471

23,471

28,683

23,471

Deferred

tax

£

Balance at 1 January 2022

23,471

Utilised during year

(2,200

)

Tax on revaluation

7,412

Balance at 31 December 2022

28,683

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

540

Ordinary A

£1.00

540

540

460

Ordinary B

£1.00

460

460

1,000

1,000

12.	RELATED PARTY DISCLOSURES

During the year, the company received dividend income from Ignition DG Limited of £14,617 (2021: £208,034). Ignition DG Limited is a wholly owned subsidiary of the company.

During the year, the company received rent of £54,000 (2021: £54,000) from Ignition DG Limited. The company invoiced Ignition DG Limited £14,400 (2021: £11,346). At the balance sheet, the company owed £369,472 (2021: £337,000) to Ignition DG Limited.

At the balance sheet date, the company owed £3,325 (2021: £3,325) to Caroline Partners Limited, and £7,572 (2021: £7,572) to Tiny Spark Limited. Caroline Partners Limited, and Tiny Spark Limited are subsidiary companies of The Istoria Group Limited.

13.	ULTIMATE CONTROLLING PARTY

During the year the company was under the ultimate control of C E Menzies by virtue of a majority shareholding.