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Registered number: 12829725
Ivywell Interiors Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Godfrey Wilson Limited
Fifth Floor Mariner House
62 Prince Street
Bristol
BS1 4QD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12829725
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 665 589
665 589
CURRENT ASSETS
Stocks 5 600 898
Debtors 6 23,658 44,790
Cash at bank and in hand 26,799 6,810
51,057 52,498
Creditors: Amounts Falling Due Within One Year 7 (52,947 ) (51,507 )
NET CURRENT ASSETS (LIABILITIES) (1,890 ) 991
TOTAL ASSETS LESS CURRENT LIABILITIES (1,225 ) 1,580
Creditors: Amounts Falling Due After More Than One Year 8 (34,000 ) (34,000 )
NET LIABILITIES (35,225 ) (32,420 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (35,325 ) (32,520 )
SHAREHOLDERS' FUNDS (35,225) (32,420)
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Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Kirsty Jephcott
Director
26/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ivywell Interiors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12829725 . The registered office is Fifth Floor Mariner House, 62 Prince Street, Bristol, BS1 4QD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 3 year straight line
Computer Equipment 3 year straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 785 11,659 12,444
Additions - 557 557
As at 31 August 2024 785 12,216 13,001
Depreciation
As at 1 September 2023 785 11,070 11,855
Provided during the period - 481 481
As at 31 August 2024 785 11,551 12,336
Net Book Value
As at 31 August 2024 - 665 665
As at 1 September 2023 - 589 589
5. Stocks
2024 2023
£ £
Materials 600 898
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,056 44,278
Prepayments and accrued income 602 512
23,658 44,790
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,738 8,407
Other taxes and social security 720 398
VAT 9,826 8,898
Net wages - 416
Other creditors 11 -
K Jephcott director's loan account 7,299 2,299
E Dittrich director's loan account 114 114
D Jephcott director's loan account 5,000 -
...CONTINUED
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Page 5
Deferred income 18,101 29,275
Accruals 7,138 1,700
52,947 51,507
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
KVJ Associates loan 22,000 22,000
Dittrich Hudson Architects loan 12,000 12,000
34,000 34,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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