Registered number
09720158
I&B Services Ltd
Filleted Accounts
31 August 2024
I&B Services Ltd
Registered number: 09720158
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 648 663
Current assets
Debtors 4 29,799 7,121
Cash at bank and in hand 6,485 511
36,284 7,632
Creditors: amounts falling due within one year 5 (12,510) (15)
Net current assets 23,774 7,617
Total assets less current liabilities 24,422 8,280
Creditors: amounts falling due after more than one year 6 (2,662) (8,245)
Net assets 21,760 35
Capital and reserves
Called up share capital 1 1
Profit and loss account 21,759 34
Shareholder's funds 21,760 35
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ireneusz Wach
Director
Approved by the board on 7 May 2025
I&B Services Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, including value added tax but net of value added tax paid under flat rate scheme and discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Where material deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 9,593 3,000 12,593
Additions 378 - 378
At 31 August 2024 9,971 3,000 12,971
Depreciation
At 1 September 2023 8,930 3,000 11,930
Charge for the year 393 - 393
At 31 August 2024 9,323 3,000 12,323
Net book value
At 31 August 2024 648 - 648
At 31 August 2023 663 - 663
4 Debtors 2024 2023
£ £
Trade debtors 5,282 368
Other debtors 24,517 6,753
29,799 7,121
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,113 -
Taxation and social security costs 10,076 2,890
Other creditors (679) (2,875)
12,510 15
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,662 8,245
7 Other information
I&B Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
114 Marsh Lane
Wolverhampton
WV10 6RX
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