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COMPANY REGISTRATION NUMBER: 13140538
Ibuild Property Developments Ltd
Filleted Unaudited Financial Statements
30 June 2024
Ibuild Property Developments Ltd
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Current assets
Stocks
5
750,000
120,182
Debtors
6
100
2,571
Cash at bank and in hand
1,523
8,980
---------
---------
751,623
131,733
Creditors: amounts falling due within one year
7
755,210
133,505
---------
---------
Net current liabilities
3,587
1,772
-------
-------
Total assets less current liabilities
( 3,587)
( 1,772)
-------
-------
Net liabilities
( 3,587)
( 1,772)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 3,687)
( 1,872)
-------
-------
Shareholders deficit
( 3,587)
( 1,772)
-------
-------
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 30 June 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 were approved by the board of directors and authorised for issue on 14 February 2025 , and are signed on behalf of the board by:
R Paisey
Director
Company registration number: 13140538
Ibuild Property Developments Ltd
Notes to the Financial Statements
Year ended 30 June 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 61 Macrae Road, Ham Green, Bristol, BS20 0DD.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Stocks
2024
2023
£
£
Work in progress
750,000
120,182
---------
---------
Stock is housing building stock that has been completed and is on the market to be sold at £1,100,000.
6. Debtors
2024
2023
£
£
Other debtors
100
2,571
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
14,619
9,828
Social security and other taxes
29
Other creditors
740,562
123,677
---------
---------
755,210
133,505
---------
---------
8. Directors' advances, credits and guarantees
The directors have loaned the company £493,500. There are no fixed terms with regards to this loan.
9. Related party transactions
The directors and their close family have loaned the company £688,885. There are no formal terms with regards to these loans.