Iverna South East Limited 11152906 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Other residential care activities not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true 11152906 2023-07-01 2024-06-30 11152906 2024-06-30 11152906 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-06-30 11152906 core:RetainedEarningsAccumulatedLosses 2024-06-30 11152906 core:ShareCapital 2024-06-30 11152906 core:CurrentFinancialInstruments 2024-06-30 11152906 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 11152906 core:MotorVehicles 2024-06-30 11152906 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-06-30 11152906 bus:SmallEntities 2023-07-01 2024-06-30 11152906 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 11152906 bus:FilletedAccounts 2023-07-01 2024-06-30 11152906 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11152906 bus:RegisteredOffice 2023-07-01 2024-06-30 11152906 bus:Director1 2023-07-01 2024-06-30 11152906 bus:Director2 2023-07-01 2024-06-30 11152906 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-07-01 2024-06-30 11152906 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11152906 bus:Agent1 2023-07-01 2024-06-30 11152906 core:MotorVehicles 2023-07-01 2024-06-30 11152906 countries:EnglandWales 2023-07-01 2024-06-30 11152906 2023-06-30 11152906 core:MotorVehicles 2023-06-30 11152906 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-30 11152906 2022-07-01 2023-06-30 11152906 2023-06-30 11152906 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-06-30 11152906 core:RetainedEarningsAccumulatedLosses 2023-06-30 11152906 core:ShareCapital 2023-06-30 11152906 core:CurrentFinancialInstruments 2023-06-30 11152906 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 11152906 core:MotorVehicles 2023-06-30 11152906 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-30 11152906 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11152906

Iverna South East Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Iverna South East Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Iverna South East Limited

Company Information

Directors

SL Finance And Management Ltd

Mr A R Ajram

Registered office

The Cottage
Stoke Grange
Fir Tree Avenue
Slough
Berkshire
SL2 4NN

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Iverna South East Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Iverna South East Limited for the year ended 30 June 2024 as set out on pages 3 to 9 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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Iverna South East Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Iverna South East Limited and state those matters that we have agreed to state to the Board of Directors of Iverna South East Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Iverna South East Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Iverna South East Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Iverna South East Limited. You consider that Iverna South East Limited 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 accounts of Iverna South East Limited. 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 accounts.

......................................

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

20 January 2025

 

Iverna South East Limited

(Registration number: 11152906)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

44,207

39,443

Current assets

 

Debtors

5

111,544

45,250

Cash at bank and in hand

 

55,185

148,012

 

166,729

193,262

Creditors: Amounts falling due within one year

6

(34,017)

(17,449)

Net current assets

 

132,712

175,813

Total assets less current liabilities

 

176,919

215,256

Provisions for liabilities

-

(620)

Net assets

 

176,919

214,636

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

176,819

214,536

Shareholders' funds

 

176,919

214,636

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

 

Iverna South East Limited

(Registration number: 11152906)
Balance Sheet as at 30 June 2024

.........................................
Mr A R Ajram
Director

 

Iverna South East Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Cottage
Stoke Grange
Fir Tree Avenue
Slough
Berkshire
SL2 4NN

These financial statements were authorised for issue by the Board on 20 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Iverna South East Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Iverna South East Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 13).

 

Iverna South East Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

45,078

45,078

Additions

18,000

18,000

At 30 June 2024

63,078

63,078

Depreciation

At 1 July 2023

5,635

5,635

Charge for the year

13,236

13,236

At 30 June 2024

18,871

18,871

Carrying amount

At 30 June 2024

44,207

44,207

At 30 June 2023

39,443

39,443

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

42,867

22,644

Amounts owed by related parties

8

52,168

20,300

Prepayments

 

3,481

1,036

Other debtors

 

13,028

1,270

   

111,544

45,250

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

102

82

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

1,994

-

Taxation and social security

 

5,616

7,402

Accruals and deferred income

 

25,323

8,936

Other creditors

 

982

1,029

 

34,017

17,449

 

Iverna South East Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

8

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

At start of period

1,069

1,069

At end of period

1,069

1,069

2023

Key management
£

Total
£

Advanced

1,069

1,069

At end of period

1,069

1,069