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REGISTERED NUMBER: 09383025 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st January 2024

for

I&D Professional Ltd

I&D Professional Ltd (Registered number: 09383025)






Contents of the Financial Statements
for the Year Ended 31st January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


I&D Professional Ltd (Registered number: 09383025)

Balance Sheet
31st January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,084 4,652
Investment property 5 267,000 259,000
271,084 263,652

CURRENT ASSETS
Cash at bank 23,374 9,417

CREDITORS
Amounts falling due within one year 6 156,100 151,760
NET CURRENT LIABILITIES (132,726 ) (142,343 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,358

121,309

PROVISIONS FOR LIABILITIES 24,083 23,010
NET ASSETS 114,275 98,299

CAPITAL AND RESERVES
Called up share capital 7 100 100
Non distributable reserves 8 87,290 87,290
Retained earnings 8 26,885 10,909
SHAREHOLDERS' FUNDS 114,275 98,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10th April 2024 and were signed by:




Dr I Rustom - Director


I&D Professional Ltd (Registered number: 09383025)

Notes to the Financial Statements
for the Year Ended 31st January 2024

1. COMPANY INFORMATION

I&D Professional Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09383025

Registered office: 7 Star Hill
Edgbaston
Birmingham
B15 2LT

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Property improvements - 10% on cost
Land and Buildings - Not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any attributable expenditure.

Subsequently it is measured at fair value at the reporting date. The surplus or deficit on revaluation is recognised in profit or loss.

Where the fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


I&D Professional Ltd (Registered number: 09383025)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

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.

Going concern
At the time of approving the financial statements, the director has confirmed that he will continue to support the company and ensure it has adequate resources to continue in operational existence for the foreseeable future. Therefore, the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Land and to
Buildings property Totals
£    £    £   
COST
At 1st February 2023
and 31st January 2024 3,522 5,649 9,171
DEPRECIATION
At 1st February 2023 - 4,519 4,519
Charge for year - 568 568
At 31st January 2024 - 5,087 5,087
NET BOOK VALUE
At 31st January 2024 3,522 562 4,084
At 31st January 2023 3,522 1,130 4,652

Included in cost of land and buildings is freehold land of £ 3,522 (2023 - £ 3,522 ) which is not depreciated.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st February 2023 259,000
Revaluations 8,000
At 31st January 2024 267,000
NET BOOK VALUE
At 31st January 2024 267,000
At 31st January 2023 259,000

I&D Professional Ltd (Registered number: 09383025)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

5. INVESTMENT PROPERTY - continued

Investment property comprises of one residential property. In accordance with FRS102 1A, the costs of obtaining an external valuation were considered to be undue for the company. As such, fair value has been estimated by the directors on the basis of average rental yield.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Corporation tax payable 4,122 742
Directors' current accounts 151,324 150,425
Accrued expenses 654 593
156,100 151,760

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary 1 100 100

8. RESERVES
Non
Retained distributable
earnings reserves Totals
£    £    £   

At 1st February 2023 10,909 87,290 98,199
Profit for the year 15,976 - 15,976
At 31st January 2024 26,885 87,290 114,175

Non distributable reserves represents the accumulative fair value adjustments in relation to investment properties, net of the deferred tax movement arising.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2024 and 31st January 2023:

31.1.24 31.1.23
£    £   
Dr I Rustom
Balance outstanding at start of year (150,424 ) (150,493 )
Amounts advanced 402 1,379
Amounts repaid (1,302 ) (1,310 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (151,324 ) (150,424 )

The loans are repayable on demand and no interest was charged during the year.

10. CONTROL

The ultimate controlling party is Dr I Rustom.