Registered number
13917980
IDA HOMES LTD
Filleted Accounts
31 May 2024
IDA HOMES LTD
Registered number: 13917980
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 27,910 -
Current assets
Debtors 4 1,095,594 362,227
Cash at bank and in hand 23,790 8,145
1,119,384 370,372
Creditors: amounts falling due within one year 5 (1,141,878) (372,022)
Net current liabilities (22,494) (1,650)
Net assets/(liabilities) 5,416 (1,650)
Capital and reserves
Called up share capital 100 100
Profit and loss account 5,316 (1,750)
Shareholder's funds 5,416 (1,650)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jeremy Ellis
Director
Approved by the board on 25 February 2025
IDA HOMES LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Website:
Cost
Additions 27,910
At 31 May 2024 27,910
Amortisation
At 31 May 2024 -
Net book value
At 31 May 2024 27,910
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Debtors 2024 2023
£ £
Trade debtors 1,094,606 362,227
Other debtors 988 -
1,095,594 362,227
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 509,422 359,622
Amounts owed to group undertakings and undertakings in which the company has a participating interest 624,654 795
Taxation and social security costs 7,802 10,605
Other creditors and accruals - 1,000
1,141,878 372,022
6 Related party transactions
Sandbay Construction Limited (Group Company)
Sales of contruction services - -
Purchases of consruction services and management charges 7,200,154 2,898,181
Any amount due to or from this company is disclosed in Debtors and Creditors.
7 Controlling party
The company's ultimate holding company is Sandbay Limited, incorporated in England.
8 Other information
IDA HOMES LTD is a private company limited by shares and incorporated in England. Its registered office is:
Foxhill Farm
Jackass Lane
Keston
Kent
BR2 6AN
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