REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
IDEALREVIEW LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
IDEALREVIEW LIMITED |
IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
IDEALREVIEW LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chandler House |
7 Ferry Road Office Park |
Riversway |
Preston |
Lancashire |
PR2 2YH |
IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
BALANCE SHEET |
30 NOVEMBER 2023 |
30/11/23 | 30/11/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 | ( |
) |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
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. |
IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
BALANCE SHEET - continued |
30 NOVEMBER 2023 |
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 |
IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
Idealreview Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is shorter. |
Computer equipment - 25% on cost |
Motor vehicles - 25% on cost |
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. |
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. |
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. |
Going concern |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Fixed asset investments |
Investments in another entity's equity shares are measured at fair value, unless it is an unlisted investment whose fair value cannot be reliably measured, in which case it is measured at cost less impairment. |
Changes in fair value are recognised in the profit and loss account. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease of the term, whichever is the shorter. |
The interest element is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 December 2022 |
and 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
5. | FIXED ASSET INVESTMENTS |
30/11/23 | 30/11/22 |
£ | £ |
Other investments not loans |
IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
5. | FIXED ASSET INVESTMENTS - continued |
Additional information is as follows: |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 December 2022 | 2,657,037 |
Additions | 69,953 |
Disposals | ( |
) | (737,511 | ) |
Revaluations | ( |
) | ( |
) | (348,162 | ) |
At 30 November 2023 | 1,641,317 |
NET BOOK VALUE |
At 30 November 2023 | 1,641,317 |
At 30 November 2022 | 2,657,037 |
Investments (neither listed nor unlisted) were as follows: |
30/11/23 | 30/11/22 |
£ | £ |
Other investments | 250,005 | 250,005 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/11/23 | 30/11/22 |
£ | £ |
Trade debtors |
Other debtors |
Tax |
VAT |
Deferred tax asset |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/11/23 | 30/11/22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes | ( |
) |
Directors' current accounts | 161,702 | 168,303 |
Accrued expenses |
IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/11/23 | 30/11/22 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30/11/23 | 30/11/22 |
£ | £ |
Hire purchase contracts | 19,224 | 21,896 |
The liabilities due under hire purchase agreements is secured on the related assets. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30/11/23 | 30/11/22 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
11. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 December 2022 | 2,092,808 | 292,812 | 2,385,620 |
Deficit for the year | (265,000 | ) | (265,000 | ) |
Dividends | (100,000 | ) | (100,000 | ) |
Transfer between reserves | 372,773 | (372,773 | ) | - |
At 30 November 2023 | 2,100,581 | (79,961 | ) | 2,020,620 |
12. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £67,600 (2022 - £323,128) were paid to the directors . |
The following entities are deemed to be related parties. |
During the year the company loaned various monies to Brindle Homes Limited. Included in other debtors ia an amount of £665,000 (2022: £nil) due from Brindle Homes Limited.The loan is deemed repayable on demand and no interest has been charged. |
Included in other debtors is an amount of £40,000 (2022: £40,000) due from The David Brown Discretionary Settlement Trust. The loan is deemed repayable on demand and no interest has been charged. |
Included in creditors is an amount of £569,311 (2022: £461,911) due to DGB1998 Holdings Limited. The loan is deemed repayable on demand and no interest has been charged. |