1 March 2023 false No description of principal activity Taxfiler 2024.6 12479177business:PrivateLimitedCompanyLtd2023-03-012024-02-29 124791772023-02-28 124791772023-03-012024-02-29 12479177business:AuditExemptWithAccountantsReport2023-03-012024-02-29 12479177business:FilletedAccounts2023-03-012024-02-29 124791772024-02-29 12479177business:Director12023-03-012024-02-29 124791772023-02-28 12479177core:WithinOneYear2024-02-29 12479177core:WithinOneYear2023-02-28 12479177core:ShareCapitalcore:PreviouslyStatedAmount2024-02-29 12479177core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 12479177core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-29 12479177core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 12479177core:PreviouslyStatedAmount2024-02-29 12479177core:PreviouslyStatedAmount2023-02-28 12479177business:SmallEntities2023-03-012024-02-29 12479177countries:EnglandWales2023-03-012024-02-29 12479177core:MotorVehicles2023-03-012024-02-29 12479177core:MotorVehicles2023-02-28 12479177core:MotorVehicles2024-02-29 124791772022-03-012023-02-28 iso4217:GBP xbrli:pure
Company Registration No. 12479177 (England and Wales)
Ipsum Hvac Ltd Unaudited accounts for the year ended 29 February 2024
Ipsum Hvac Ltd Unaudited accounts Contents
Page
- 2 -
Ipsum Hvac Ltd Company Information for the year ended 29 February 2024
Director
Gary James Williams
Company Number
12479177 (England and Wales)
Accountants
S G Accountancy (UK) Ltd COLLEGE GREEN STATION ROAD Crymych Pembrokeshire SA41 3RL
- 3 -
Ipsum Hvac Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,210 
14,536 
Current assets
Debtors
120,085 
54,921 
Cash at bank and in hand
32,348 
8,433 
152,433 
63,354 
Creditors: amounts falling due within one year
202,371 
174,135 
Net current assets
354,804 
237,489 
Net assets
363,014 
252,025 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
363,012 
252,023 
Shareholders' funds
363,014 
252,025 
For the year ending 29 February 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2024 and were signed on its behalf by
Gary James Williams Director Company Registration No. 12479177
- 4 -
Ipsum Hvac Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Ipsum Hvac Ltd is a private company, limited by shares, registered in England and Wales, registration number 12479177.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25%
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 March 2023
25,303 
At 29 February 2024
25,303 
Depreciation
At 1 March 2023
10,767 
Charge for the year
6,326 
At 29 February 2024
17,093 
Net book value
At 29 February 2024
8,210 
At 28 February 2023
14,536 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,730 
Trade debtors
50,794 
16,574 
Other debtors
69,291 
36,617 
120,085 
54,921 
- 5 -
Ipsum Hvac Ltd Notes to the Accounts for the year ended 29 February 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
19,879 
44,160 
VAT
8,490 
- 
Obligations under finance leases and hire purchase contracts
13,794 
- 
Trade creditors
8,048 
2,907 
Taxes and social security
35,149 
27,491 
Other creditors
52,436 
- 
Loans from directors
(340,592)
(249,118)
Accruals
425 
425 
(202,371)
(174,135)
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
- 6 -