Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mr S Pratten 02/08/2010 Mr G Staddon 02/08/2010 09 November 2023 The principal activity of the Company during the financial year was the sale of used vehicles. 07332258 2023-04-30 07332258 bus:Director1 2023-04-30 07332258 bus:Director2 2023-04-30 07332258 2022-04-30 07332258 core:CurrentFinancialInstruments 2023-04-30 07332258 core:CurrentFinancialInstruments 2022-04-30 07332258 core:ShareCapital 2023-04-30 07332258 core:ShareCapital 2022-04-30 07332258 core:RetainedEarningsAccumulatedLosses 2023-04-30 07332258 core:RetainedEarningsAccumulatedLosses 2022-04-30 07332258 core:Goodwill 2022-04-30 07332258 core:Goodwill 2023-04-30 07332258 core:PlantMachinery 2022-04-30 07332258 core:FurnitureFittings 2022-04-30 07332258 core:PlantMachinery 2023-04-30 07332258 core:FurnitureFittings 2023-04-30 07332258 bus:OrdinaryShareClass1 2023-04-30 07332258 bus:OrdinaryShareClass2 2023-04-30 07332258 bus:OrdinaryShareClass3 2023-04-30 07332258 2022-05-01 2023-04-30 07332258 bus:FullAccounts 2022-05-01 2023-04-30 07332258 bus:SmallEntities 2022-05-01 2023-04-30 07332258 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 07332258 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 07332258 bus:Director1 2022-05-01 2023-04-30 07332258 bus:Director2 2022-05-01 2023-04-30 07332258 core:Goodwill core:TopRangeValue 2022-05-01 2023-04-30 07332258 core:Goodwill 2022-05-01 2023-04-30 07332258 core:PlantMachinery 2022-05-01 2023-04-30 07332258 core:FurnitureFittings 2022-05-01 2023-04-30 07332258 2021-05-01 2022-04-30 07332258 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 07332258 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 07332258 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 07332258 bus:OrdinaryShareClass2 2021-05-01 2022-04-30 07332258 bus:OrdinaryShareClass3 2022-05-01 2023-04-30 07332258 bus:OrdinaryShareClass3 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07332258 (England and Wales)

IVYBRIDGE TRADE CENTRE LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

IVYBRIDGE TRADE CENTRE LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

IVYBRIDGE TRADE CENTRE LIMITED

BALANCE SHEET

As at 30 April 2023
IVYBRIDGE TRADE CENTRE LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 6,537 2,978
6,537 2,978
Current assets
Stocks 731,184 532,410
Debtors 5 40,980 4,503
Cash at bank and in hand 303,985 404,751
1,076,149 941,664
Creditors: amounts falling due within one year 6 ( 191,790) ( 187,270)
Net current assets 884,359 754,394
Total assets less current liabilities 890,896 757,372
Provision for liabilities ( 1,561) ( 689)
Net assets 889,335 756,683
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 889,235 756,583
Total shareholders' funds 889,335 756,683

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ivybridge Trade Centre Limited (registered number: 07332258) were approved and authorised for issue by the Board of Directors on 09 November 2023. They were signed on its behalf by:

Mr S Pratten
Director
IVYBRIDGE TRADE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
IVYBRIDGE TRADE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ivybridge Trade Centre Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom.
The principal place of business is: Unit 4, Blair Road, Fulham Industrial Estate, Ivybridge, Devon PL21 0UR

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 8

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2022 41,312 41,312
At 30 April 2023 41,312 41,312
Accumulated amortisation
At 01 May 2022 41,312 41,312
At 30 April 2023 41,312 41,312
Net book value
At 30 April 2023 0 0
At 30 April 2022 0 0

4. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 May 2022 7,821 5,051 12,872
Additions 5,740 0 5,740
At 30 April 2023 13,561 5,051 18,612
Accumulated depreciation
At 01 May 2022 5,285 4,609 9,894
Charge for the financial year 2,071 110 2,181
At 30 April 2023 7,356 4,719 12,075
Net book value
At 30 April 2023 6,205 332 6,537
At 30 April 2022 2,536 442 2,978

5. Debtors

2023 2022
£ £
Trade debtors 26,137 327
Other debtors 14,843 4,176
40,980 4,503

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 63,264 38,786
Amounts owed to Group undertakings 2,875 10,564
Corporation tax 66,002 65,326
Other taxation and social security 35,799 40,243
Other creditors 23,850 32,351
191,790 187,270

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
45 B ordinary shares of £ 1.00 each 45 45
5 C ordinary shares of £ 1.00 each 5 5
100 100

8. Financial commitments

Other financial commitments

2023 2022
£ £
The total amount of financial commitments not included in the balance sheet 35,417 52,417