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Company No: 12891447 (England and Wales)

THE IVYCREST GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

THE IVYCREST GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

THE IVYCREST GROUP LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
THE IVYCREST GROUP LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 75,611 28,127
75,611 28,127
Current assets
Debtors 4 21,207 29,124
Cash at bank and in hand 99,195 71,896
120,402 101,020
Creditors: amounts falling due within one year 5 ( 21,554) ( 22,032)
Net current assets 98,848 78,988
Total assets less current liabilities 174,459 107,115
Provision for liabilities ( 5,841) ( 7,032)
Net assets 168,618 100,083
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 168,518 99,983
Total shareholders' funds 168,618 100,083

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The IvyCrest Group Limited (registered number: 12891447) were approved and authorised for issue by the Board of Directors on 11 February 2025. They were signed on its behalf by:

Matthew John May
Director
THE IVYCREST GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
THE IVYCREST GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The IvyCrest Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1-3 College Yard, Worcester, WR1 2LB, United Kingdom. The principal place of business is 38 Worcester Road, Malvern, Worcestershire, WR14 4AA.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 October 2023 31,235 31,235
Additions 55,584 55,584
At 30 September 2024 86,819 86,819
Accumulated depreciation
At 01 October 2023 3,108 3,108
Charge for the financial year 8,100 8,100
At 30 September 2024 11,208 11,208
Net book value
At 30 September 2024 75,611 75,611
At 30 September 2023 28,127 28,127

4. Debtors

2024 2023
£ £
Trade debtors 20,121 29,838
Amounts owed by directors 1,086 ( 714)
21,207 29,124

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors ( 338) 0
Accruals 2,450 2,000
Taxation and social security 19,442 20,032
21,554 22,032

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
90 ORDINARY A shares of £ 1.00 each 90 90
10 ORDINARY B shares of £ 1.00 each 10 10
100 100