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Registration number: 10287576

Idealdata Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Idealdata Services Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Idealdata Services Limited

(Registration number: 10287576)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

955

-

Current assets

 

Debtors

5

3,200

2,805

Cash at bank and in hand

 

11,292

54,244

 

14,492

57,049

Creditors: Amounts falling due within one year

6

(14,977)

(56,606)

Net current (liabilities)/assets

 

(485)

443

Net assets

 

470

443

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

469

442

Shareholders' funds

 

470

443

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 August 2024
 

Mr M J Dore
Director

   
     
 

Idealdata Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
38 Musgrave Mount
Bramley
Leeds
LS13 2QL

These financial statements were authorised for issue by the director on 5 August 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Idealdata Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Idealdata Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

974

974

At 31 July 2024

974

974

Depreciation

Charge for the year

19

19

At 31 July 2024

19

19

Carrying amount

At 31 July 2024

955

955

5

Debtors

Current

2024
£

2023
£

Trade debtors

3,040

2,645

Prepayments

160

160

 

3,200

2,805

 

Idealdata Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

7,434

48,264

Taxation and social security

 

6,853

7,682

Accruals and deferred income

 

690

660

 

14,977

56,606

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

7,434

48,264