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REGISTERED NUMBER: 08063342 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

The Ideas Department Ltd.

The Ideas Department Ltd. (Registered number: 08063342)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Ideas Department Ltd.

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr A E Alty





REGISTERED OFFICE: Un.Titled Studio
Astor Road
Salford
Manchester
M50 1BB





REGISTERED NUMBER: 08063342 (England and Wales)





ACCOUNTANTS: McParland Williams Limited
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

The Ideas Department Ltd. (Registered number: 08063342)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,622 4,749
Investments 5 182,000 167,368
186,622 172,117

CURRENT ASSETS
Debtors 6 49,134 14,670
Cash at bank 105,456 85,577
154,590 100,247
CREDITORS
Amounts falling due within one year 7 64,296 52,368
NET CURRENT ASSETS 90,294 47,879
TOTAL ASSETS LESS CURRENT
LIABILITIES

276,916

219,996

PROVISIONS FOR LIABILITIES 1,156 902
NET ASSETS 275,760 219,094

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 275,660 218,994
275,760 219,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Ideas Department Ltd. (Registered number: 08063342)

Balance Sheet - continued
31 May 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 director and authorised for issue on 14 August 2024 and were signed by:





Mr A E Alty - Director


The Ideas Department Ltd. (Registered number: 08063342)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

The Ideas Department Ltd. 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 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 33% on reducing balance

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.

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 6 (2023 - 6 ) .

The Ideas Department Ltd. (Registered number: 08063342)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 June 2023 29,576
Additions 2,150
At 31 May 2024 31,726
DEPRECIATION
At 1 June 2023 24,827
Charge for year 2,277
At 31 May 2024 27,104
NET BOOK VALUE
At 31 May 2024 4,622
At 31 May 2023 4,749

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 June 2023 167,368
Revaluations 14,632
At 31 May 2024 182,000
NET BOOK VALUE
At 31 May 2024 182,000
At 31 May 2023 167,368

Cost or valuation at 31 May 2024 is represented by:

Other
investments
£   
Valuation in 0 182,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 49,134 14,670

The Ideas Department Ltd. (Registered number: 08063342)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors - 2
Taxation and social security 49,060 41,161
Other creditors 15,236 11,205
64,296 52,368