0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 4,250,000 4,250,000 4,250,000 xbrli:pure xbrli:shares iso4217:GBP 07371422 2023-04-01 2024-03-31 07371422 2024-03-31 07371422 2023-03-31 07371422 2022-04-01 2023-03-31 07371422 2023-03-31 07371422 2022-03-31 07371422 bus:Director1 2023-04-01 2024-03-31 07371422 core:AfterOneYear 2024-03-31 07371422 core:AfterOneYear 2023-03-31 07371422 core:WithinOneYear 2024-03-31 07371422 core:WithinOneYear 2023-03-31 07371422 core:ShareCapital 2024-03-31 07371422 core:ShareCapital 2023-03-31 07371422 core:HedgingReserve 2024-03-31 07371422 core:HedgingReserve 2023-03-31 07371422 core:RetainedEarningsAccumulatedLosses 2024-03-31 07371422 core:RetainedEarningsAccumulatedLosses 2023-03-31 07371422 core:LandBuildings 2024-03-31 07371422 core:LandBuildings 2023-03-31 07371422 bus:SmallEntities 2023-04-01 2024-03-31 07371422 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07371422 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07371422 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07371422 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 07371422
Identified Investments Ltd
Filleted Unaudited Financial Statements
31 March 2024
Identified Investments Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
4,250,000
4,250,000
Current assets
Stocks
52,325
Debtors
5
919,654
875,624
Cash at bank and in hand
56,194
66,769
---------
---------
975,848
994,718
Creditors: amounts falling due within one year
6
2,700
2,700
---------
---------
Net current assets
973,148
992,018
------------
------------
Total assets less current liabilities
5,223,148
5,242,018
Creditors: amounts falling due after more than one year
7
2,809,278
2,809,278
Provisions
Taxation including deferred tax
441,110
441,110
------------
------------
Net assets
1,972,760
1,991,630
------------
------------
Capital and reserves
Called up share capital
100
100
Fair value reserve
1,880,523
1,880,523
Profit and loss account
92,137
111,007
------------
------------
Shareholders funds
1,972,760
1,991,630
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Identified Investments Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 11 December 2024 , and are signed on behalf of the board by:
Mr T Dean
Director
Company registration number: 07371422
Identified Investments Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ash House, Breckenwood Road, Fulbourn, Cambridge, CB21 5DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
All fixed assets are initially recorded at cost. Investment properties are stated at open market value at net of a provision for disposal costs.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Tangible assets
Land and buildings
£
Cost
At 1 April 2023 and 31 March 2024
4,250,000
------------
Depreciation
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
4,250,000
------------
At 31 March 2023
4,250,000
------------
The freehold property is an investment property .
5. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
840,747
840,747
Other debtors
78,907
34,877
---------
---------
919,654
875,624
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
2,700
2,700
-------
-------
The bank loan is secured on the freehold property.
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,809,278
2,809,278
------------
------------
8. Related party transactions
The company is 66.6% owned by Duo Investments Limited, a company controlled by M and T Dean, directors and 33.4% owned by Mr A De Simone.