REGISTERED NUMBER: |
THE INTERNATIONAL DISPUTE RESOLUTION |
CENTRE LIMITED |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
REGISTERED NUMBER: |
THE INTERNATIONAL DISPUTE RESOLUTION |
CENTRE LIMITED |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
THE INTERNATIONAL DISPUTE RESOLUTION |
CENTRE LIMITED (REGISTERED NUMBER: 03691902) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THE INTERNATIONAL DISPUTE RESOLUTION |
CENTRE LIMITED |
COMPANY INFORMATION |
for the year ended 31 July 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITOR: |
264 Banbury Road |
Oxford |
Oxfordshire |
OX2 7DY |
THE INTERNATIONAL DISPUTE RESOLUTION |
CENTRE LIMITED (REGISTERED NUMBER: 03691902) |
BALANCE SHEET |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Share premium | 13 |
Retained earnings | 13 |
SHAREHOLDERS' FUNDS |
THE INTERNATIONAL DISPUTE RESOLUTION |
CENTRE LIMITED (REGISTERED NUMBER: 03691902) |
BALANCE SHEET - continued |
31 July 2024 |
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 |
THE INTERNATIONAL DISPUTE RESOLUTION |
CENTRE LIMITED (REGISTERED NUMBER: 03691902) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 July 2024 |
1. | STATUTORY INFORMATION |
The International Dispute Resolution Centre Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the income receivable from the provision of hearing rooms and support services and other rental income. |
Tangible fixed assets |
Fixtures and fittings | - |
The company has a policy of expensing any asset costing less than £500 per item. |
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. Where there are rent free periods and periods of reduced rent the value of these are spread evenly 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. |
THE INTERNATIONAL DISPUTE RESOLUTION |
CENTRE LIMITED (REGISTERED NUMBER: 03691902) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Landlord fit out contributions |
Landlord fit out contributions are shown within other creditors and will be released to the profit and loss evenly over the life of the lease. |
Investments |
Investments are valued at their fair value on the balance sheet date. For listed investments this is the quoted price at the close of business on the valuation day. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
At 1 August 2023 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 August 2023 |
Revaluations |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
THE INTERNATIONAL DISPUTE RESOLUTION |
CENTRE LIMITED (REGISTERED NUMBER: 03691902) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 2024 |
5. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 July 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2023 | 1,549,320 |
Valuation in 2024 | 95,451 |
1,644,771 |
6. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Rent deposit |
Aggregate amounts |
Other debtors falling due after more than one year are rent deposits, which are repayable at the end of the leases in 2036. The leases relate to the premises the company occupies and where it carries out its business. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 189,475 | 272,187 |
Other creditors |
Accruals and deferred income |
THE INTERNATIONAL DISPUTE RESOLUTION |
CENTRE LIMITED (REGISTERED NUMBER: 03691902) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Accruals | 3,992,375 | 3,351,705 |
The other creditors due in more than one year are the landlord fit out contributions to be released to the profit and loss evenly over the life of the lease, in line with the landlord fit out contribution accounting policy. Accruals due after more than one year represents the impact of spreading the total rental cost of the lease evenly over the full period of the lease. |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
10. | SECURED DEBTS |
The landlords have a charge over the rent deposits of £730,650 in respect of rent payable. At the balance sheet date there were no amounts outstanding. |
11. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 713,255 | 755,129 |
Deferred |
tax |
£ |
Balance at 1 August 2023 |
Credit to Income Statement during year | ( |
) |
Balance at 31 July 2024 |
The deferred taxation provision relates to timing differences between the recognition of capital allowances and depreciation of fixed assets. |
THE INTERNATIONAL DISPUTE RESOLUTION |
CENTRE LIMITED (REGISTERED NUMBER: 03691902) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 2024 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 824,424 | 824,424 |
13. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 August 2023 | 10,453,950 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31 July 2024 | 10,646,999 |
14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditor was unqualified. |
for and on behalf of |
15. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
16. | DIVIDENDS |
After the year end the board proposed a dividend of £0.75 per share to be paid to shareholders. The estimate for total dividends to be paid is £618,318.00 |