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Company registration number:
12081289
Ideas On Info Ltd
Company limited by guarantee
Unaudited Financial Statements for the year ended
31 July 2024
Ideas On Info Ltd
Officers and Professional Advisers
Year ended
31 July 2024
Directors
Mr Leon Davies
Mr Silas Welsh
Registered office
Tossels House
Fore Street
Chulmleigh
Devon
EX18 7BR
England
Ideas On Info Ltd
Directors' Report
Year ended
31 July 2024
The directors present their report and the unaudited
financial statements
of the company for the year ended 31 July 2024.

Directors

The directors who served the company during the year were as follows:
Mr Leon Davies
Mr Silas Welsh

History & Mission

We are a small, independent website offering information and ideas on the world around us. We aim to produce our content in such a way as to provide a clear divide between what is fact and what is opinion. We are set up as company limited by guarantee with no share capital. This means that there are no dividends. We are not a registered charity, but we like to think of ourselves as having a charitable objective.
We are also looking to curate a broad collection of writers from diverse backgrounds and opinions. As a publication we do not ask for exclusivity over contributor’s content. We hope that, as a publication, our role is to make sure that the content is: resourced, factual, and insightful. The biggest objective of the organisation is to inform the world in the most intelligible way possible. In is in this spirit that we have set up the platform with four sections:
Information
An Info On is an objective piece of writing that is designed to inform.
An Ideas On is an analytical piece of writing which contains clear opinions.
Entertainment
A Record On are factual accounts of events and experiences.
A Fable On are fictitious stories, poetry and comedic writing.
We hope that, with these categories, you will always understand the context in which an article was written. We believe that persuasive and polemic arguments have a role in society, but they are most productive when they are honest about their constitution.
FINANCIAL PERFORMANCE
The entity has been largely dormant throughout the financial period and has incurred costs mainly relating to the preservation of its existing publications. The company is currently entirely supported by its guarantors. This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
31 August 2024
and signed on behalf of the board by:
Mr Leon Davies
Mr Silas Welsh
DirectorDirector
Ideas On Info Ltd
Report of the Accountant to the directors of Ideas On Info Ltd
Year ended
31 July 2024
These financial statements have been prepared in accordance with my terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended
31 July 2024
.
I have prepared these financial statements based on the accounting records, information and explanations provided by you. I do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Ideas On Info Ltd
Income Statement
Year ended
31 July 2024
20242023
££
Turnover
62
 
52
 
Gross surplus
62
 
52
 
Administrative expenses
(79
)
(35
)
Operating (deficit)/surplus
(17
)
17
 
(Deficit)/surplus before tax
(17
)
17
 
Tax on (deficit)/surplus -  
(3
)
(Deficit)/surplus for the financial year
(17
)
14
 
The company has no other recognised items of income or expense other than the results for the year as set out above.
Ideas On Info Ltd
Statement of Financial Position
31 July 2024
20242023
Note££
Current assets    
Debtors 6
37
 
17
 
Cash at bank and in hand
7
 
10
 
44
 
27
 
Creditors: amounts falling due within one year 7
(37
)
(3
)
Net current assets
7
 
24
 
Total assets less current liabilities 7   24  
Capital and reserves    
Income and expenditure account
7
 
24
 
Members funds
7
 
24
 
For the year ending
31 July 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.
These
financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
31 August 2024
, and are signed on behalf of the board by:
Mr Leon Davies
Mr Silas Welsh
DirectorDirector
Company registration number:
12081289
Ideas On Info Ltd
Notes to the Financial Statements
Year ended
31 July 2024

1 General information

The company is a private company limited by guarantee and is registered in England and Wales. The address of the registered office is
Tossels House
,
Fore Street
,
Chulmleigh
,
Devon
,
EX18 7BR
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

These accounts are prepared on a going concern basis. The corporation is reliant on the support of its directors to continue and the directors are content to support the corporation for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable as donations.
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.

Current tax

Current tax is recognised on taxable surplus for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in surplus or deficit. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in surplus or deficit.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in surplus or deficit immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in surplus or deficit immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Limited by guarantee

Each member of the corporation has guaranteed £1.00. There are two members of the corporation.

5 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2
).

6 Debtors

20242023
££
Other debtors
37
 
17
 
The debtors above include the following amounts falling due after more than one year:
20242023
££
Other debtors
9
  -  

7 Creditors: amounts falling due within one year

20242023
££
Taxation and social security -  
3
 
Other creditors
37
  -  
37
 
3