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REGISTERED NUMBER: SC514694 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Ideal Gas Ltd

Ideal Gas Ltd (Registered number: SC514694)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ideal Gas Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTOR: R Morrison





REGISTERED OFFICE: 15 St Leonard Street
Lanark
South Lanarkshire
ML11 7AB





REGISTERED NUMBER: SC514694 (Scotland)





ACCOUNTANTS: ICW Accountancy Ltd
15 St Leonard Street
Lanark
Lanarkshire
ML11 7AB

Ideal Gas Ltd (Registered number: SC514694)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,202 36,371

CURRENT ASSETS
Debtors 5 25,798 23,493
Cash at bank and in hand 152,694 50,270
178,492 73,763
CREDITORS
Amounts falling due within one year 6 44,177 30,422
NET CURRENT ASSETS 134,315 43,341
TOTAL ASSETS LESS CURRENT
LIABILITIES

161,517

79,712

PROVISIONS FOR LIABILITIES 5,168 6,910
NET ASSETS 156,349 72,802

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 156,347 72,800
156,349 72,802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 18 January 2025 and were signed by:




R Morrison - Director


Ideal Gas Ltd (Registered number: SC514694)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Ideal Gas Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Plant & machinery - 25% Reducing Balance
Motor Vehicles - 25% Straight Line

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Ideal Gas Ltd (Registered number: SC514694)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 62,779
DEPRECIATION
At 1 October 2023 26,408
Charge for year 9,169
At 30 September 2024 35,577
NET BOOK VALUE
At 30 September 2024 27,202
At 30 September 2023 36,371

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 24,358 21,980
Other debtors 1,440 1,513
25,798 23,493

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 3,218 7,054
Taxation and social security 37,412 20,462
Other creditors 3,547 2,906
44,177 30,422