REGISTERED NUMBER: |
No Borders IHL Ltd |
Unaudited Financial Statements |
for the year ended |
30th September 2024 |
REGISTERED NUMBER: |
No Borders IHL Ltd |
Unaudited Financial Statements |
for the year ended |
30th September 2024 |
No Borders IHL Ltd (Registered number: SC709976) |
Contents of the Financial Statements |
for the year ended 30th September 2024 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 3 | to | 5 |
No Borders IHL Ltd |
Company Information |
for the year ended 30th September 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
No Borders IHL Ltd (Registered number: SC709976) |
Balance Sheet |
30th September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) |
Provisions for liabilities |
Net (liabilities)/assets | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
The financial statements were approved by the director and authorised for issue on |
No Borders IHL Ltd (Registered number: SC709976) |
Notes to the Financial Statements |
for the year ended 30th September 2024 |
1. | Statutory information |
No Borders IHL Ltd is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. |
Tangible fixed assets |
Fixtures and fittings | - |
Office equipment | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, accruals, directors' loans and hire purchase creditors.. |
Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Trade debtors, directors' loans (being repayable on demand) and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. |
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. |
No Borders IHL Ltd (Registered number: SC709976) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2024 |
2. | Accounting policies - continued |
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. |
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. |
Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
Employee benefits |
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred. |
Going concern |
As set out in the strategic report, the director has identified some economic factors which have impacted the business' performance and profitability in the year. The director is aware of the risks of these factors and he is actively reviewing operations to implement change to ensure the long term profitability and viability of the company is not compromised. |
As a result of this he has a reasonable expectation that the company has adequate resources to continue in operational existence for the forseable future. Thus, he continues to adopt the going concern basis of accounting in preparing the financial statements. |
3. | Employees and directors |
The average number of employees during the year was |
No Borders IHL Ltd (Registered number: SC709976) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2024 |
4. | Tangible fixed assets |
Fixtures |
and | Office |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1st October 2023 |
Additions |
At 30th September 2024 |
Depreciation |
At 1st October 2023 |
Charge for year |
At 30th September 2024 |
Net book value |
At 30th September 2024 |
At 30th September 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Taxation and social security | ( |
) |
Other creditors |
7. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | 1,556 | - |