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Company No: 01749474 (England and Wales)

IDAC SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

IDAC SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

IDAC SOLUTIONS LIMITED

BALANCE SHEET

As at 31 December 2024
IDAC SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 4,083 9,031
4,083 9,031
Current assets
Stocks 812,720 710,317
Debtors 4 1,224,549 1,332,235
Cash at bank and in hand 16,030 20,173
2,053,299 2,062,725
Creditors: amounts falling due within one year 5 ( 1,542,810) ( 1,401,834)
Net current assets 510,489 660,891
Total assets less current liabilities 514,572 669,922
Creditors: amounts falling due after more than one year 6 0 ( 57,292)
Provision for liabilities 0 ( 657)
Net assets 514,572 611,973
Capital and reserves
Called-up share capital 7 255,000 255,000
Profit and loss account 259,572 356,973
Total shareholders' funds 514,572 611,973

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of iDaC Solutions Limited (registered number: 01749474) were approved and authorised for issue by the Board of Directors on 20 May 2025. They were signed on its behalf by:

Mr P Cattell
Director
IDAC SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
IDAC SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

iDaC Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom. The principal place of business is Unit B, Omega Enterprise Park, Electron Way, Chandler's Ford, Eastleigh, SO53 4SE.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are initially recorded at the functional currency using HMRC's approved monthly rate for the month of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Turnover

Turnover represents the value of goods sold during the year, net of Value Added Tax and trade discounts, and the fair value of services provided under contracts with customers to the extent that there is a right to consideration.

Turnover is recognised when goods are physically delivered to the customer or the fair value of consideration due. Uninvoiced deliveries at the year end are included in accrued income. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Invoiced deliveries are included in debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods have been delivered.
Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Invoices are not raised until a contract is complete so the value of incomplete services is included in Amounts recoverable on contracts in the balance sheet.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 4 - 5 years straight line
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost or estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 13

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 January 2024 462 9,151 26,605 36,218
Additions 0 0 3,452 3,452
Disposals 0 ( 9,151) ( 12,525) ( 21,676)
At 31 December 2024 462 0 17,532 17,994
Accumulated depreciation
At 01 January 2024 316 2,669 24,202 27,187
Charge for the financial year 93 1,907 1,782 3,782
Disposals 0 ( 4,576) ( 12,482) ( 17,058)
At 31 December 2024 409 0 13,502 13,911
Net book value
At 31 December 2024 53 0 4,030 4,083
At 31 December 2023 146 6,482 2,403 9,031

4. Debtors

2024 2023
£ £
Trade debtors 982,529 1,167,541
Amounts owed by Group undertakings 0 14,871
Corporation tax 2,396 0
Other debtors 239,624 149,823
1,224,549 1,332,235

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 57,292 62,500
Trade creditors 1,068,937 943,143
Amounts owed to Group undertakings 0 23,700
Accruals 126,409 88,602
Taxation and social security 199,172 250,675
Other creditors 91,000 33,214
1,542,810 1,401,834

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 57,292

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
105,000 £1 Ordinary shares of £ 1.00 each 105,000 105,000
150,000 £1 Redeemable A Ordinary shares of £ 1.00 each 150,000 150,000
255,000 255,000

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 38,400 38,400
between one and five years 26,146 58,207
64,546 96,607

9. Ultimate controlling party

Parent Company:

iDaCS Ridge Holdings Limited
Hilltop Park, Hitchcock House, Devizes Road, Salisbury, Wiltshire, SP3 4UF