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REGISTERED NUMBER: 03744150 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Ideal Construction Limited

Ideal Construction Limited (Registered number: 03744150)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ideal Construction Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P Parmar





REGISTERED OFFICE: 88-90 London Road
Leicester
Leicestershire
LE2 0RD





REGISTERED NUMBER: 03744150 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Ideal Construction Limited (Registered number: 03744150)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,363 3,775
Investment property 5 100,500 100,500
101,863 104,275

CURRENT ASSETS
Stocks 455,000 358,550
Debtors 6 328,985 317,402
783,985 675,952
CREDITORS
Amounts falling due within one year 7 (155,430 ) (138,033 )
NET CURRENT ASSETS 628,555 537,919
TOTAL ASSETS LESS CURRENT
LIABILITIES

730,418

642,194

CREDITORS
Amounts falling due after more than one
year

8

(351,380

)

(239,375

)
NET ASSETS 379,038 402,819

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 378,938 402,719
SHAREHOLDERS' FUNDS 379,038 402,819

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ideal Construction Limited (Registered number: 03744150)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2025 and were signed by:





P Parmar - Director


Ideal Construction Limited (Registered number: 03744150)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ideal Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Rental income is recognised on a receivable basis during the year, exclusive of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

Ideal Construction Limited (Registered number: 03744150)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 5,392 48,458 53,850
Disposals - (31,165 ) (31,165 )
At 31 March 2024 5,392 17,293 22,685
DEPRECIATION
At 1 April 2023 5,391 44,684 50,075
Charge for year - 454 454
Eliminated on disposal - (29,207 ) (29,207 )
At 31 March 2024 5,391 15,931 21,322
NET BOOK VALUE
At 31 March 2024 1 1,362 1,363
At 31 March 2023 1 3,774 3,775

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 100,500
NET BOOK VALUE
At 31 March 2024 100,500
At 31 March 2023 100,500

Investment properties were valued by the director on 31 March 2024 on an open market value basis.

6. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 70,321 66,851
Other debtors 127,934 136,771
198,255 203,622

Amounts falling due after more than one year:
Amounts owed by group undertakings 130,730 113,780

Aggregate amounts 328,985 317,402

Other debtors include prepayments and accrued income of £Nil (2023: £2,500).

Ideal Construction Limited (Registered number: 03744150)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 24,899 14,716
Trade creditors 15,064 9,748
Taxation and social security 4,132 4,942
Other creditors 111,335 108,627
155,430 138,033

Other creditors include accruals and deferred income of £725 (2023: £700).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings 351,380 239,375