Registered number
11870781
IDM Property Consulting Ltd
Unaudited Filleted Accounts
31 March 2023
IDM Property Consulting Ltd
Registered number: 11870781
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,110,949 302,216
Current assets
Debtors 4 - 210,354
Cash at bank and in hand 600 1,957
600 212,311
Creditors: amounts falling due within one year 5 (10,506) (11,944)
Net current (liabilities)/assets (9,906) 200,367
Total assets less current liabilities 1,101,043 502,583
Creditors: amounts falling due after more than one year 6 (838,983) (518,598)
Provisions for liabilities (64,844) -
Net assets/(liabilities) 197,216 (16,015)
Capital and reserves
Called up share capital 1 1
Profit and loss account 197,215 (16,016)
Shareholder's funds 197,216 (16,015)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I D Miller
Director
Approved by the board on 27 October 2023
IDM Property Consulting Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Rental income is measured at the fair value of the consideration received or receivable.
Investment property
Investment properties are carried at fair value, determined annually by the directors and are derived from knowledge of comparable properties and the local market conditions. Any movements in fair value are recognised in arriving at the profit before tax. Deferred tax is provided against these movements.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment properties
£
Cost
At 1 April 2022 305,269
Additions 546,303
Surplus on revaluation 259,377
At 31 March 2023 1,110,949
Depreciation
At 1 April 2022 3,053
Surplus on revaluation (3,053)
At 31 March 2023 -
Net book value
At 31 March 2023 1,110,949
At 31 March 2022 302,216
4 Debtors 2023 2022
£ £
Other debtors - 210,354
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,076 8,852
Trade creditors - 734
Taxation and social security costs 632 1,560
Other creditors 798 798
10,506 11,944
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 583,387 239,357
Other creditors 255,596 279,241
838,983 518,598
7 Other information
IDM Property Consulting Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Fen Road
Cambridge
Cambs
CB4 1BS
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