Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-011truefalseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06637709 2023-04-01 2024-03-31 06637709 2022-04-01 2023-03-31 06637709 2024-03-31 06637709 2023-03-31 06637709 c:Director1 2023-04-01 2024-03-31 06637709 d:PlantMachinery 2023-04-01 2024-03-31 06637709 d:PlantMachinery 2024-03-31 06637709 d:PlantMachinery 2023-03-31 06637709 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06637709 d:MotorVehicles 2023-04-01 2024-03-31 06637709 d:MotorVehicles 2024-03-31 06637709 d:MotorVehicles 2023-03-31 06637709 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06637709 d:OfficeEquipment 2023-04-01 2024-03-31 06637709 d:OfficeEquipment 2024-03-31 06637709 d:OfficeEquipment 2023-03-31 06637709 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06637709 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06637709 d:Goodwill 2023-04-01 2024-03-31 06637709 d:Goodwill 2024-03-31 06637709 d:Goodwill 2023-03-31 06637709 d:CurrentFinancialInstruments 2024-03-31 06637709 d:CurrentFinancialInstruments 2023-03-31 06637709 d:Non-currentFinancialInstruments 2024-03-31 06637709 d:Non-currentFinancialInstruments 2023-03-31 06637709 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06637709 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06637709 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06637709 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06637709 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 06637709 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 06637709 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 06637709 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 06637709 d:ShareCapital 2024-03-31 06637709 d:ShareCapital 2023-03-31 06637709 d:RetainedEarningsAccumulatedLosses 2024-03-31 06637709 d:RetainedEarningsAccumulatedLosses 2023-03-31 06637709 c:FRS102 2023-04-01 2024-03-31 06637709 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06637709 c:FullAccounts 2023-04-01 2024-03-31 06637709 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06637709 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 06637709 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 06637709 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 06637709 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06637709









IBN BUILDING & JOINERY LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
IBN BUILDING & JOINERY LTD
 
 
  
ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF IBN BUILDING & JOINERY LTD
FOR THE YEAR ENDED 31 MARCH 2024

You consider that the Company is exempt from an audit for the year ended 31 March 2024. You have acknowledged, on the Balance sheet, your responsibilities for ensuring that the Company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and for preparing the financial statements which give a true and fair view of the state of affairs of the Company and of its profit or loss for the financial year.

In accordance with your instructions, I have prepared the financial statements on pages 12 from the accounting records of the Company and on the basis of information and explanations you have given to me.

I have not carried out an audit or any other review, and consequently I do not express any opinion on these financial statements.

  










J D Pennington
Accountant
Granton Parkway Suite
Parkway Close
Sheffield
South Yorkshire
S9 4WJ
7 November 2024
Page 1

 
IBN BUILDING & JOINERY LTD
REGISTERED NUMBER: 06637709

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
30,000
35,000

Tangible assets
 5 
3,320
3,208

  
33,320
38,208

Current assets
  

Stocks
  
1,472
2,696

Debtors: amounts falling due within one year
 6 
454
1,145

Cash at bank and in hand
 7 
2,318
9,447

  
4,244
13,288

Creditors: amounts falling due within one year
 8 
(16,179)
(14,438)

Net current liabilities
  
 
 
(11,935)
 
 
(1,150)

Total assets less current liabilities
  
21,385
37,058

Creditors: amounts falling due after more than one year
 9 
(3,333)
(5,333)

Provisions for liabilities
  

Deferred tax
 11 
(631)
(610)

  
 
 
(631)
 
 
(610)

Net assets
  
17,421
31,115


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
17,420
31,114

  
17,421
31,115


Page 2

 
IBN BUILDING & JOINERY LTD
REGISTERED NUMBER: 06637709
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 November 2024.






I B Nuttall
Director

Page 3

 
IBN BUILDING & JOINERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

IBN Building & Joinery Ltd is a private company limited by shares incorporated in England & Wales. The registered office is 1 Binsted Glade, Sheffield, S6 8PA, England.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
IBN BUILDING & JOINERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
15%
Straight line
Motor vehicles
-
25%
Straight line
Office equipment
-
15%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
IBN BUILDING & JOINERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
IBN BUILDING & JOINERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

2024
2023
£
£

Wages and salaries
12,570
9,096

Social security costs
479
-

13,049
9,096


The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 7

 
IBN BUILDING & JOINERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
100,000



At 31 March 2024

100,000



Amortisation


At 1 April 2023
65,000


Charge for the year on owned assets
5,000



At 31 March 2024

70,000



Net book value



At 31 March 2024
30,000



At 31 March 2023
35,000



Page 8

 
IBN BUILDING & JOINERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
4,883
12,107
3,616
20,606


Additions
267
-
-
267



At 31 March 2024

5,150
12,107
3,616
20,873



Depreciation


At 1 April 2023
4,203
10,107
3,088
17,398


Charge for the year on owned assets
85
-
70
155



At 31 March 2024

4,288
10,107
3,158
17,553



Net book value



At 31 March 2024
862
2,000
458
3,320



At 31 March 2023
680
2,000
528
3,208


6.


Debtors

2024
2023
£
£


Trade debtors
454
944

Prepayments and accrued income
-
201

454
1,145



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,318
9,447

2,318
9,447


Page 9

 
IBN BUILDING & JOINERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
2,000
2,000

Trade creditors
919
2,064

Corporation tax
4,126
4,777

Other taxation and social security
7,107
3,093

Other creditors
614
1,131

Accruals and deferred income
1,413
1,373

16,179
14,438



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,333
5,333

3,333
5,333


Page 10

 
IBN BUILDING & JOINERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
2,000
2,000


2,000
2,000

Amounts falling due 1-2 years

Bank loans
2,000
2,000


2,000
2,000

Amounts falling due 2-5 years

Bank loans
1,333
3,333


1,333
3,333


5,333
7,333


Page 11

 
IBN BUILDING & JOINERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Deferred taxation




2024


£






At beginning of year
(610)


Charged to profit or loss
(21)



At end of year
(631)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(631)
(610)

(631)
(610)

 
Page 12