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REGISTERED NUMBER: 14047109 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

ILT DEVELOPMENTS LTD

ILT DEVELOPMENTS LTD (REGISTERED NUMBER: 14047109)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


ILT DEVELOPMENTS LTD

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







Director: Mr I M Hill





Registered office: 1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ





Registered number: 14047109 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Ilt Developments Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ilt Developments Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Ilt Developments Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ilt Developments Ltd and state those matters that we have agreed to state to the director of Ilt Developments Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ilt Developments Ltd and its director for our work or for this report.

It is your duty to ensure that Ilt Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ilt Developments Ltd. You consider that Ilt Developments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ilt Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ


20 September 2024

ILT DEVELOPMENTS LTD (REGISTERED NUMBER: 14047109)

Balance Sheet
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 82,652 37,007
Investments 5 1 -
Investment property 6 5,893,312 5,893,312
5,975,965 5,930,319

CURRENT ASSETS
Debtors 7 329,867 207,604
Cash at bank 323,286 24,054
653,153 231,658
CREDITORS
Amounts falling due within one year 8 281,155 105,465
NET CURRENT ASSETS 371,998 126,193
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,347,963

6,056,512

CAPITAL AND RESERVES
Called up share capital 9 5,840,000 5,840,000
Retained earnings 507,963 216,512
SHAREHOLDERS' FUNDS 6,347,963 6,056,512

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





Mr I M Hill - Director


ILT DEVELOPMENTS LTD (REGISTERED NUMBER: 14047109)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Ilt Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Preparation of consolidated financial statements
The financial statements contain information about Ilt Developments Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 6 ) .

ILT DEVELOPMENTS LTD (REGISTERED NUMBER: 14047109)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 3,073 43,895 46,968
Additions 54,547 675 55,222
At 31 March 2024 57,620 44,570 102,190
DEPRECIATION
At 1 April 2023 549 9,412 9,961
Charge for year 2,669 6,908 9,577
At 31 March 2024 3,218 16,320 19,538
NET BOOK VALUE
At 31 March 2024 54,402 28,250 82,652
At 31 March 2023 2,524 34,483 37,007

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 1
At 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 5,893,312
NET BOOK VALUE
At 31 March 2024 5,893,312
At 31 March 2023 5,893,312

The properties are included at the value at which they were acquired by the company. The director is satisfied that there have been no material movements in the value of the properties since acquisition.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 105,332 15,534
Other debtors 224,535 192,070
329,867 207,604

ILT DEVELOPMENTS LTD (REGISTERED NUMBER: 14047109)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 91,707 36,043
Taxation and social security 157,256 52,602
Other creditors 32,192 16,820
281,155 105,465

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
5,840,000 Ordinary £1 5,840,000 5,840,000