5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-12-01 Sage Accounts Production Advanced 2024 - FRS102_2024 10,566 155 10,721 3,347 1,457 4,804 5,917 7,219 xbrli:pure xbrli:shares iso4217:GBP 10473209 2023-12-01 2024-11-30 10473209 2024-11-30 10473209 2023-11-30 10473209 2022-12-01 2023-11-30 10473209 2023-11-30 10473209 2022-11-30 10473209 bus:Director1 2023-12-01 2024-11-30 10473209 bus:Director2 2023-12-01 2024-11-30 10473209 bus:Director4 2023-12-01 2024-11-30 10473209 core:WithinOneYear 2024-11-30 10473209 core:WithinOneYear 2023-11-30 10473209 core:ShareCapital 2024-11-30 10473209 core:ShareCapital 2023-11-30 10473209 core:RetainedEarningsAccumulatedLosses 2024-11-30 10473209 core:RetainedEarningsAccumulatedLosses 2023-11-30 10473209 bus:Director3 2023-12-01 2024-11-30 10473209 bus:SmallEntities 2023-12-01 2024-11-30 10473209 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 10473209 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 10473209 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 10473209 bus:FullAccounts 2023-12-01 2024-11-30 10473209 core:ComputerEquipment 2023-12-01 2024-11-30 10473209 core:ComputerEquipment 2023-11-30 10473209 core:ComputerEquipment 2024-11-30 10473209 1 2023-12-01 2024-11-30
COMPANY REGISTRATION NUMBER: 10473209
IDBI SOLUTIONS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 November 2024
IDBI SOLUTIONS LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
5,917
7,219
Current assets
Debtors
6
91,684
199,538
Cash at bank and in hand
672,015
676,283
-----------
-----------
763,699
875,821
Creditors: amounts falling due within one year
7
158,826
200,337
-----------
-----------
Net current assets
604,873
675,484
-----------
-----------
Total assets less current liabilities
610,790
682,703
Provisions
1,479
1,727
-----------
-----------
Net assets
609,311
680,976
-----------
-----------
IDBI SOLUTIONS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
20,200
20,200
Profit and loss account
589,111
660,776
-----------
-----------
Shareholders funds
609,311
680,976
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 April 2025 , and are signed on behalf of the board by:
N Passmore
B Vince
Director
Director
J A R Tutty
Director
Company registration number: 10473209
IDBI SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Streets LLP, Tower House, Lucy Tower Street, Lincoln, LN1 1XW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are recognised at fair value, with any subsequent changes to fair value recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tangible assets
Equipment
£
Cost
At 1 December 2023
10,566
Additions
155
---------
At 30 November 2024
10,721
---------
Depreciation
At 1 December 2023
3,347
Charge for the year
1,457
---------
At 30 November 2024
4,804
---------
Carrying amount
At 30 November 2024
5,917
---------
At 30 November 2023
7,219
---------
6. Debtors
2024
2023
£
£
Trade debtors
116,370
Other debtors
91,684
83,168
---------
-----------
91,684
199,538
---------
-----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
21,040
13,577
Corporation tax
99,696
141,889
Social security and other taxes
35,771
42,798
Other creditors
2,319
2,073
-----------
-----------
158,826
200,337
-----------
-----------
8. Transition to FRS 102
During the year the company transitioned from FRS 105 reporting to FRS 102 reporting.
9. Related party transactions
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
10. Controlling party
The company was under the control of its directors' throughout the current and previous year.