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REGISTERED NUMBER: 03790289 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Ibbotson Industries Limited

Ibbotson Industries Limited (Registered number: 03790289)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ibbotson Industries Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr M D Ibbotson
Mrs T A Ibbotson
Mr B R Ibbotson





SECRETARY: Mrs T A Ibbotson





REGISTERED OFFICE: The Durham Ox
Westway
Crayke
York
YO61 4TE





REGISTERED NUMBER: 03790289 (England and Wales)





ACCOUNTANTS: Northern Tonic Ltd
14 Clifton Moor
Business Village
James Nicolson Link
York
YO30 4XG

Ibbotson Industries Limited (Registered number: 03790289)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,593,848 2,530,326

CURRENT ASSETS
Inventories 5 61,079 46,079
Debtors 6 12,743 12,696
Cash at bank 59,257 56,731
133,079 115,506
CREDITORS
Amounts falling due within one year 7 1,103,569 859,544
NET CURRENT LIABILITIES (970,490 ) (744,038 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,623,358

1,786,288

CREDITORS
Amounts falling due after more than
one year

8

(161,981

)

(412,220

)

PROVISIONS FOR LIABILITIES (330,609 ) (323,238 )
NET ASSETS 1,130,768 1,050,830

CAPITAL AND RESERVES
Called up share capital 11 45,000 45,000
Revaluation reserve 12 792,383 792,383
Retained earnings 12 293,385 213,447
SHAREHOLDERS' FUNDS 1,130,768 1,050,830

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

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

The directors acknowledge their 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.

Ibbotson Industries Limited (Registered number: 03790289)

Balance Sheet - continued
31 August 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 Board of Directors and authorised for issue on 14 February 2025 and were signed on its behalf by:





Mr M D Ibbotson - Director


Ibbotson Industries Limited (Registered number: 03790289)

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

1. STATUTORY INFORMATION

Ibbotson Industries 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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Inventories 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Ibbotson Industries Limited (Registered number: 03790289)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 34 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 September 2023 2,000,000 391,533 211,023
Additions - 79,385 9,045
At 31 August 2024 2,000,000 470,918 220,068
DEPRECIATION
At 1 September 2023 - 11,779 153,251
Charge for year 10,000 9,152 9,052
At 31 August 2024 10,000 20,931 162,303
NET BOOK VALUE
At 31 August 2024 1,990,000 449,987 57,765
At 31 August 2023 2,000,000 379,754 57,772

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 195,301 22,250 2,820,107
Additions 11,419 - 99,849
At 31 August 2024 206,720 22,250 2,919,956
DEPRECIATION
At 1 September 2023 107,924 16,827 289,781
Charge for year 7,310 813 36,327
At 31 August 2024 115,234 17,640 326,108
NET BOOK VALUE
At 31 August 2024 91,486 4,610 2,593,848
At 31 August 2023 87,377 5,423 2,530,326

Ibbotson Industries Limited (Registered number: 03790289)

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

4. PROPERTY, PLANT AND EQUIPMENT - continued

Cost or valuation at 31 August 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2016 1,056,511 - -
Cost 943,489 470,918 220,068
2,000,000 470,918 220,068

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2016 - - 1,056,511
Cost 206,720 22,250 1,863,445
206,720 22,250 2,919,956

5. INVENTORIES
31.8.24 31.8.23
£    £   
Stocks 61,079 46,079

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 915 915
Other debtors 360 360
Prepayments and accrued income 11,468 11,421
12,743 12,696

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts (see note 9) 297,748 62,757
Trade creditors 81,458 116,206
Tax 1,165 (2,409 )
Social security and other taxes 10,816 12,130
VAT 69,289 30,175
Other creditors 299,781 298,288
Directors' current accounts 235,931 237,383
Accrued expenses 107,381 105,014
1,103,569 859,544

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans (see note 9) 161,981 412,220

Ibbotson Industries Limited (Registered number: 03790289)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.8.24 31.8.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 723 23,365

9. LOANS

An analysis of the maturity of loans is given below:

31.8.24 31.8.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 297,748 62,757

Amounts falling due between one and two years:
Bank loans - 1-2 years 50,267 283,186

Amounts falling due between two and five years:
Bank loans - 2-5 years 110,991 105,669

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 723 23,365

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 459,729 474,977

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
750 Ordinary £1 750 750
250 Convertible Preference £1 250 250
44,000 Redeemable Preference £1 44,000 44,000
45,000 45,000

Ibbotson Industries Limited (Registered number: 03790289)

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

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 September 2023 213,447 792,383 1,005,830
Profit for the year 79,938 79,938
At 31 August 2024 293,385 792,383 1,085,768