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REGISTERED NUMBER: 03691902 (England and Wales)












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: Mr M A H Payton KC (Hon) (Chairman)
Ms J S Blanch
Ms L R Buck
Mr D A Grief
Mr B A Harris
Mr R C Harry
Mr A D Harverd MBE
Mr C D Hickman
Mr G J Massie
Mr N G Peacock
Mr J O Randle
Ms J J V Haersolte-Van Hof
Mr A W Winstanley OBE
Sir D H Wootton





SECRETARY: Waterstone Company Secretaries Ltd





REGISTERED OFFICE: 1 Paternoster Lane
LONDON
EC4M 7BQ





REGISTERED NUMBER: 03691902 (England and Wales)





AUDITOR: Shaw Gibbs Audit Ltd
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 7,807,238 7,092,255
Investments 5 1,644,771 1,549,320
9,452,009 8,641,575

CURRENT ASSETS
Debtors 6 4,213,685 4,431,999
Cash at bank and in hand 5,776,028 5,696,756
9,989,713 10,128,755
CREDITORS
Amounts falling due within one year 7 (1,884,970 ) (1,868,605 )
NET CURRENT ASSETS 8,104,743 8,260,150
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,556,752

16,901,725

CREDITORS
Amounts falling due after more than one year 8 (5,372,074 ) (4,868,222 )

PROVISIONS FOR LIABILITIES 11 (713,255 ) (755,129 )
NET ASSETS 11,471,423 11,278,374

CAPITAL AND RESERVES
Called up share capital 12 824,424 824,424
Share premium 13 1,860,342 1,860,342
Retained earnings 13 8,786,657 8,593,608
SHAREHOLDERS' FUNDS 11,471,423 11,278,374

THE INTERNATIONAL DISPUTE RESOLUTION
CENTRE LIMITED (REGISTERED NUMBER: 03691902)

BALANCE SHEET - continued
31 July 2024


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 Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:





Mr C D Hickman - Director


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 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the income receivable from the provision of hearing rooms and support services and other rental income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - at varying rates on cost

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 19 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 August 2023 7,096,783 1,302,462 8,399,245
Additions 1,286,540 91,173 1,377,713
At 31 July 2024 8,383,323 1,393,635 9,776,958
DEPRECIATION
At 1 August 2023 890,736 416,254 1,306,990
Charge for year 491,626 171,104 662,730
At 31 July 2024 1,382,362 587,358 1,969,720
NET BOOK VALUE
At 31 July 2024 7,000,961 806,277 7,807,238
At 31 July 2023 6,206,047 886,208 7,092,255

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 August 2023 1,549,320
Revaluations 95,451
At 31 July 2024 1,644,771
NET BOOK VALUE
At 31 July 2024 1,644,771
At 31 July 2023 1,549,320

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 1,844,445 2,470,737
Other debtors 42,015 41,871
Prepayments and accrued income 1,311,075 1,188,741
3,197,535 3,701,349

Amounts falling due after more than one year:
Rent deposit 1,016,150 730,650

Aggregate amounts 4,213,685 4,431,999

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 188,345 175,995
Tax 121,682 443,109
Social security and other taxes 63,635 28,176
VAT 189,475 272,187
Other creditors 198,834 276,899
Accruals and deferred income 1,122,999 672,239
1,884,970 1,868,605

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 1,379,699 1,516,517
Accruals 3,992,375 3,351,705
5,372,074 4,868,222

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 2,169,412 1,217,748
Between one and five years 9,912,077 7,306,485
In more than five years 21,862,624 18,469,170
33,944,113 26,993,403

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 755,129
Credit to Income Statement during year (41,874 )
Balance at 31 July 2024 713,255

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: £    £   
824,424 Ordinary £1 824,424 824,424

13. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 August 2023 8,593,608 1,860,342 10,453,950
Profit for the year 1,013,805 1,013,805
Dividends (820,756 ) (820,756 )
At 31 July 2024 8,786,657 1,860,342 10,646,999

14. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

Lance Redman ACA FCCA (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs Audit Ltd

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
£    £   
Mr C D Hickman
Balance outstanding at start of year 1,125 3,200
Amounts repaid - (2,075 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,125 1,125

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