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Registration number: 10206217

IBL Homes Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

IBL Homes Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 5

 

IBL Homes Ltd

Company Information

Directors

Mrs Bernadette Marie Lloyd

Mr Ian David Lloyd

Registered office

Bronwysg
High Street
Sennybridge
Wales
LD3 8PG

 

IBL Homes Ltd

(Registration number: 10206217)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

3

2,440,000

2,080,000

Current assets

 

Debtors

4

152,755

156,585

Cash at bank and in hand

 

8,208

5,931

 

160,963

162,516

Creditors: Amounts falling due within one year

5

(32,175)

(21,967)

Net current assets

 

128,788

140,549

Total assets less current liabilities

 

2,568,788

2,220,549

Creditors: Amounts falling due after more than one year

5

(1,774,594)

(1,616,646)

Provisions for liabilities

(187,963)

(150,686)

Net assets

 

606,231

453,217

Capital and reserves

 

Called up share capital

2

2

Revaluation reserve

801,318

642,400

Retained earnings

(195,089)

(189,185)

Shareholders' funds

 

606,231

453,217

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

 

IBL Homes Ltd

(Registration number: 10206217)
Balance Sheet as at 31 May 2024 (continued)

.........................................
Mrs Bernadette Marie Lloyd
Director

.........................................
Mr Ian David Lloyd
Director

 

IBL Homes Ltd

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

1

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

2

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

2,895

2,895

At 31 May 2024

2,895

2,895

Depreciation

At 1 June 2023

2,895

2,895

At 31 May 2024

2,895

2,895

Carrying amount

At 31 May 2024

-

-

3

Investment properties

2024
£

At 1 June

2,080,000

Additions

163,805

Fair value adjustments

196,195

At 31 May

2,440,000

The fair value of the property at the year end has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

4

Debtors

 

IBL Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

4

Debtors (continued)

Current

Note

2024
£

2023
£

Trade debtors

 

1,599

6,521

Amounts owed by related parties

130,220

132,120

Prepayments

 

10,331

10,090

Other debtors

 

10,605

7,854

   

152,755

156,585

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

577

394

Trade creditors

 

12,286

9,378

Accruals and deferred income

 

6,692

4,120

Other creditors

 

12,620

8,075

 

32,175

21,967

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

1,774,594

1,616,646