Company registration number: 03462916
Unaudited financial statements
for the year ended 31 December 2023
for
ILP Direct Limited
Pages for filing with the Registrar
Company registration number: 03462916
ILP Direct Limited
Balance sheet
as at 31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 10,756 12,733
Investments 6 123,080 69,260
133,836 81,993
Current assets
Stocks 1,632 6,502
Debtors 39,721 38,909
Cash at bank and in hand 97,766 179,514
139,119 224,925
Creditors: amounts falling due within
one year
(62,284) (63,737)
Net current assets 76,835 161,188
Total assets less current liabilities 210,671 243,181
NET ASSETS 210,671 243,181
Capital and reserves
Called up share capital 100 100
Profit and loss account 210,571 243,081
TOTAL EQUITY 210,671 243,181
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2023.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 03462916
ILP Direct Limited
Balance sheet - continued
as at 31 December 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 26 September 2024 and signed on its behalf by:
Mr I Potts, Director
26 September 2024
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ILP Direct Limited
Notes to the financial statements
for the year ended 31 December 2023
1 Company information
The company is registered in England and Wales. Its registered number is 03462916. The company is limited by shares. Its registered office is Spong Farm, Elmsted, Ashford, Kent, TN25 5JU.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill - 33.33% straight line
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Long leasehold property - 15% straight line
Plant and machinery etc.:
Plant and machinery - 15% reducing balance
Fixtures & fittings - 25% reducing balance
Computer equipment - 25% straight line
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ILP Direct Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
2 Accounting policies - continued
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
3 Average number of employees
During the year the average number of employees was 2 (2022 - 2).
4 Intangible assets
Goodwill
£
Cost
At 1 January 2023 5,000
At 31 December 2023 5,000
Amortisation
At 1 January 2023 5,000
At 31 December 2023 5,000
Net book value
At 31 December 2023 -
At 31 December 2022 -
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ILP Direct Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
5 Tangible fixed assets
Land and
buildings
Plant and
machinery
etc.
Totals
£ £ £
Cost
At 1 January 2023 13,673 91,005 104,678
Additions - 333 333
At 31 December 2023 13,673 91,338 105,011
Depreciation
At 1 January 2023 13,673 78,272 91,945
Charge for year - 2,310 2,310
At 31 December 2023 13,673 80,582 94,255
Net book value
At 31 December 2023 - 10,756 10,756
At 31 December 2022 - 12,733 12,733
6 Fixed asset investments
Investments other than loans
Other

investments
other than lo
£
Cost
At 1 January 2023 69,260
Additions 53,820
At 31 December 2023 123,080
Net book value
At 31 December 2023 123,080
At 31 December 2022 69,260
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ILP Direct Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
7 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022.
2023 2022
£ £
Balance outstanding at start of year (46)
Amounts advanced (242)
Balance outstanding at end of year (288)
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