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REGISTERED NUMBER: 04770102 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 July 2023

for

IDM (CONTRACTORS) LIMITED

IDM (CONTRACTORS) LIMITED (REGISTERED NUMBER: 04770102)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IDM (CONTRACTORS) LIMITED

Company Information
for the Year Ended 31 July 2023







DIRECTORS: L J Woodrow
T A Woodrow





REGISTERED OFFICE: c/o the Motorist
New Lennerton Lane
Sherburn in Elmet
Leeds
West Yorkshire
LS25 6JE





REGISTERED NUMBER: 04770102 (England and Wales)





ACCOUNTANTS: BK Plus Limited
52 St Johns Lane
Halifax
West Yorkshire
HX1 2BW

IDM (CONTRACTORS) LIMITED (REGISTERED NUMBER: 04770102)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 6,000
Tangible assets 5 73,069 40,193
73,069 46,193

CURRENT ASSETS
Stocks - 256
Debtors 6 144,919 218,513
Cash at bank 292,749 156,418
437,668 375,187
CREDITORS
Amounts falling due within one year 7 128,012 161,837
NET CURRENT ASSETS 309,656 213,350
TOTAL ASSETS LESS CURRENT LIABILITIES 382,725 259,543

CREDITORS
Amounts falling due after more than one
year

8

(36,017

)

(29,167

)

PROVISIONS FOR LIABILITIES (16,912 ) (2,883 )
NET ASSETS 329,796 227,493

CAPITAL AND RESERVES
Called up share capital 30 30
Capital redemption reserve 70 70
Retained earnings 329,696 227,393
SHAREHOLDERS' FUNDS 329,796 227,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

IDM (CONTRACTORS) LIMITED (REGISTERED NUMBER: 04770102)

Balance Sheet - continued
31 July 2023


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 6 February 2024 and were signed on its behalf by:





L J Woodrow - Director


IDM (CONTRACTORS) LIMITED (REGISTERED NUMBER: 04770102)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

IDM (Contractors) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 3 years
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


IDM (CONTRACTORS) LIMITED (REGISTERED NUMBER: 04770102)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 120,000
AMORTISATION
At 1 August 2022 114,000
Charge for year 6,000
At 31 July 2023 120,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 6,000

IDM (CONTRACTORS) LIMITED (REGISTERED NUMBER: 04770102)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 5,191 108,733 113,924
Additions - 71,802 71,802
Disposals - (35,884 ) (35,884 )
At 31 July 2023 5,191 144,651 149,842
DEPRECIATION
At 1 August 2022 5,191 68,540 73,731
Charge for year - 25,405 25,405
Eliminated on disposal - (22,363 ) (22,363 )
At 31 July 2023 5,191 71,582 76,773
NET BOOK VALUE
At 31 July 2023 - 73,069 73,069
At 31 July 2022 - 40,193 40,193

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 140,463 86,411
Other debtors 4,456 132,102
144,919 218,513

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 14,442 -
Trade creditors (3,533 ) 66,382
Taxation and social security 82,744 59,603
Other creditors 24,359 25,852
128,012 161,837

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans 19,167 29,167
Hire purchase contracts 16,850 -
36,017 29,167

IDM (CONTRACTORS) LIMITED (REGISTERED NUMBER: 04770102)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
L J Woodrow
Balance outstanding at start of year 65,140 1,401
Amounts advanced 6,087 220,651
Amounts repaid (70,893 ) (156,912 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 334 65,140