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Registered number: 11428044
Ideas Forums Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 11428044
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 352,131 364,695
Tangible Assets 5 3,689 6,974
355,820 371,669
CURRENT ASSETS
Debtors 6 313,377 420,785
Cash at bank and in hand 1,493 33,663
314,870 454,448
Creditors: Amounts Falling Due Within One Year 7 (1,244,210 ) (1,589,818 )
NET CURRENT ASSETS (LIABILITIES) (929,340 ) (1,135,370 )
TOTAL ASSETS LESS CURRENT LIABILITIES (573,520 ) (763,701 )
Creditors: Amounts Falling Due After More Than One Year 8 (283,296 ) (163,904 )
NET LIABILITIES (856,816 ) (927,605 )
CAPITAL AND RESERVES
Called up share capital 9 275 275
Share premium account 149,925 149,925
Profit and Loss Account (1,007,016 ) (1,077,805 )
SHAREHOLDERS' FUNDS (856,816) (927,605)
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms F James
Director
29 August 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ideas Forums Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11428044 . The registered office is The Cottages, Jones Court, Womanby Street, Cardiff, CF10 1BR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of approving the financial statements the directors have a reasonable expectation that the  company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
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. Intangible assets are being amortised evenly over their estimated useful life of five years.
Delegate data aquistion costs are reviewed annually for any impairment and being amortised evenly over their estimated useful life of two years.
Website development costs are being amortised evenly over their estimated useful life of three years
2.5. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, which range from three to four years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment over 4 years
2.7. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.8. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
Long term financial instruments, which are provided interest free or at below market interest rates, are discounted at the prevailing market rate and the difference accounted for as a capital contribution or distribution in the equity statement.
2.9. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 21)
9 21
4. Intangible Assets
Other Development Costs Total
£ £ £
Cost
As at 1 December 2022 305,212 113,034 418,246
Additions - 32,726 32,726
As at 30 November 2023 305,212 145,760 450,972
Amortisation
As at 1 December 2022 3,749 49,802 53,551
Provided during the period 1,130 44,160 45,290
As at 30 November 2023 4,879 93,962 98,841
Net Book Value
As at 30 November 2023 300,333 51,798 352,131
As at 1 December 2022 301,463 63,232 364,695
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 December 2022 14,369
As at 30 November 2023 14,369
Depreciation
As at 1 December 2022 7,395
Provided during the period 3,285
As at 30 November 2023 10,680
Net Book Value
As at 30 November 2023 3,689
As at 1 December 2022 6,974
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 6,865 182,458
Amounts owed by participating interests 131,291 131,291
Other debtors 175,221 107,036
313,377 420,785
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 218,042 210,985
Bank loans and overdrafts 10,000 9,957
Amounts owed to participating interests 75,242 269,288
Other creditors 902,816 796,056
Taxation and social security 38,110 303,532
1,244,210 1,589,818
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 15,000 24,893
Other creditors 268,296 139,011
283,296 163,904
9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
275 Ordinary Shares of £ 1.00 each 275 275
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Ms Francesca James 12,049 58,007 (33,829 ) - 36,227
Mr Nicholas James 18,246 20,550 (18,250 ) - 20,546
The above loan is unsecured, interest free and repayable on demand.
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11. Related Party Transactions
GRC World Forums Limited
A company with common directorship
At the balance sheet date there was an outstanding interest free loan due to GRC World Forums Limited of £75,242 (2022: £269,288).
During the year rights were sold to GRC World Forums Limited for an amount of £236,020.
Amplified Business Content Limited
A company under common directorship
At the balance sheet date there was an outstanding interest free loan from Amplified Business Content Limited of £131,291 (2022: £131,291)
12. Ultimate Controlling Party
The company's ultimate controlling party is Mrs F James by virtue of her ownership of 100% of the issued share capital in the company.
13. Going Concern
Total liabilities exceed total assets however, the company is able to meet any liabilities that may fall due.
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