Registered number
01713601
Ilsley Holdings Limited
Filleted Accounts
31 December 2022
Ilsley Holdings Limited
Registered number: 01713601
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 1 1,290
Current assets
Debtors 4 266,660 52,696
Cash at bank and in hand 24,332 218,126
290,992 270,822
Creditors: amounts falling due within one year 5 (42,091) (45,797)
Net current assets 248,901 225,025
Total assets less current liabilities 248,902 226,315
Creditors: amounts falling due after more than one year 6 (24,176) (44,470)
Net assets 224,726 181,845
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account 219,726 176,845
Shareholders' funds 224,726 181,845
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
P D Thomson
Director
Approved by the board on 20 November 2023
Ilsley Holdings Limited
Notes to the Accounts
for the year ended 31 December 2022
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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 4 years
Plant and machinery over 4 years
Fixtures and fittings over 4 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Computer Equipment Plant and machinery etc Total
£ £ £
Cost
At 1 January 2022 99,581 12,013 111,594
At 31 December 2022 99,581 12,013 111,594
Depreciation
At 1 January 2022 99,580 10,724 110,304
Charge for the year - 1,289 1,289
At 31 December 2022 99,580 12,013 111,593
Net book value
At 31 December 2022 1 - 1
At 31 December 2021 1 1,289 1,290
4 Debtors 2022 2021
£ £
Trade debtors 152,010 28,046
Loans 90,000 -
Other debtors 24,650 24,650
266,660 52,696
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 10,644 -
Trade creditors 8,557 18,441
Director's loan 100 100
Corporation tax 11,764 21,958
Other taxes and social security costs 7,866 2,179
Other creditors 3,160 3,119
42,091 45,797
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 24,176 44,470
7 Controlling party
The company is controlled by S M Thomson by virtue of her ownership of all of the issued share capital.
8 Other information
Ilsley Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cygnet House
3A Northcroft Lane
Newbury
Berkshire
RG14 1BT
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