Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 13788111 Mr B Sokolowski Ms I Sidlo iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13788111 2023-12-31 13788111 2024-12-31 13788111 2024-01-01 2024-12-31 13788111 frs-core:CurrentFinancialInstruments 2024-12-31 13788111 frs-core:Non-currentFinancialInstruments 2024-12-31 13788111 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 13788111 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13788111 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 13788111 frs-core:RevaluationReserve 2024-01-01 2024-12-31 13788111 frs-core:RevaluationReserve 2023-12-31 13788111 frs-core:RevaluationReserve 2024-12-31 13788111 frs-core:ShareCapital 2024-12-31 13788111 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 13788111 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13788111 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 13788111 frs-bus:SmallEntities 2024-01-01 2024-12-31 13788111 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 13788111 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13788111 frs-bus:Director1 2024-01-01 2024-12-31 13788111 frs-bus:Director2 2024-01-01 2024-12-31 13788111 frs-countries:EnglandWales 2024-01-01 2024-12-31 13788111 2022-12-31 13788111 2023-12-31 13788111 2023-01-01 2023-12-31 13788111 frs-core:CurrentFinancialInstruments 2023-12-31 13788111 frs-core:Non-currentFinancialInstruments 2023-12-31 13788111 frs-core:RevaluationReserve 2023-12-31 13788111 frs-core:ShareCapital 2023-12-31 13788111 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 13788111
IB Homes Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Andrew Herring & Co
Chartered Certified Accountants
40 Clarence Road
Chesterfield
S40 1LQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13788111
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 265,000 95,000
265,000 95,000
CURRENT ASSETS
Stocks 5 - 151,896
Debtors 6 - 116
Cash at bank and in hand 1,576 667
1,576 152,679
Creditors: Amounts Falling Due Within One Year 7 (14,974 ) (22,977 )
NET CURRENT ASSETS (LIABILITIES) (13,398 ) 129,702
TOTAL ASSETS LESS CURRENT LIABILITIES 251,602 224,702
Creditors: Amounts Falling Due After More Than One Year 8 (301,238 ) (238,399 )
NET LIABILITIES (49,636 ) (13,697 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 23,104 -
Profit and Loss Account (72,742 ) (13,699 )
SHAREHOLDERS' FUNDS (49,636) (13,697)
Page 1
Page 2
For the 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.
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
Ms I Sidlo
Director
30/05/2025
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
IB Homes Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13788111 . The registered office is 13 Pattison Street, Walsall, WS5 4PD.
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:
Freehold See investment property note below
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. 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: NIL (2023: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 January 2024 95,000
Additions 170,000
As at 31 December 2024 265,000
Net Book Value
As at 31 December 2024 265,000
As at 1 January 2024 95,000
5. Stocks
2024 2023
£ £
Stock - 151,896
6. Debtors
2024 2023
£ £
Due within one year
Other debtors - 116
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 394
Amounts owed to participating interests 14,373 -
Other creditors 601 22,583
14,974 22,977
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 301,238 238,399
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4
Page 5
10. Reserves
Revaluation Reserve
£
As at 1 January 2024 -
Net investment property revaluation reserve 23,104
As at 31 December 2024 23,104
Page 5