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Company Registration No. 11421202 (England and Wales)
IVEO Group Ltd Amended unaudited accounts for the year ended 31 March 2025
IVEO Group Ltd Amended unaudited accounts Contents
Page
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IVEO Group Ltd Company Information for the year ended 31 March 2025
Director
Ferhaan Mirza
Company Number
11421202 (England and Wales)
Registered Office
Unit 2 Speedwell Trading Estate 108 Kings Road Tyseley Birmingham B11 2AT United Kingdom
Accountants
Integritax Accountants Ltd 68 Yardley Road Acocks Green Birmingham B27 6LG
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IVEO Group Ltd Statement of financial position as at 31 March 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
159,044 
144,855 
Current assets
Inventories
686,467 
551,467 
Debtors
66,007 
123,278 
Cash at bank and in hand
20,769 
31,660 
773,243 
706,405 
Creditors: amounts falling due within one year
(434,036)
(395,118)
Net current assets
339,207 
311,287 
Total assets less current liabilities
498,251 
456,142 
Creditors: amounts falling due after more than one year
(259,331)
(271,892)
Provisions for liabilities
Deferred tax
(49,758)
(30,078)
Net assets
189,162 
154,172 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
189,161 
154,171 
Shareholders' funds
189,162 
154,172 
For the year ending 31 March 2025 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 May 2025 and were signed on its behalf by
Ferhaan Mirza Director Company Registration No. 11421202
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IVEO Group Ltd Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
IVEO Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 11421202. The registered office is Unit 2, Speedwell Trading Estate 108 Kings Road, Tyseley, Birmingham, B11 2AT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
20% reducing balance
Fixtures & fittings
20% straight line
Computer equipment
33% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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IVEO Group Ltd Notes to the Accounts for the year ended 31 March 2025
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2024
14,505 
147,386 
18,114 
7,977 
187,982 
Additions
- 
105,772 
20,250 
- 
126,022 
Disposals
- 
(110,669)
- 
- 
(110,669)
At 31 March 2025
14,505 
142,489 
38,364 
7,977 
203,335 
Depreciation
At 1 April 2024
2,399 
35,377 
2,829 
2,522 
43,127 
Charge for the year
2,901 
10,855 
6,667 
2,016 
22,439 
On disposals
- 
(21,275)
- 
- 
(21,275)
At 31 March 2025
5,300 
24,957 
9,496 
4,538 
44,291 
Net book value
At 31 March 2025
9,205 
117,532 
28,868 
3,439 
159,044 
At 31 March 2024
12,106 
112,009 
15,285 
5,455 
144,855 
5
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Trade debtors
56,132 
123,278 
Other debtors
9,875 
- 
66,007 
123,278 
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IVEO Group Ltd Notes to the Accounts for the year ended 31 March 2025
6
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Trade creditors
71,296 
12,347 
Taxes and social security
28,510 
29,635 
Other creditors
99,512 
78,874 
Loans from directors
234,718 
274,262 
434,036 
395,118 
7
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Bank loans
42,934 
59,314 
Obligations under finance leases and hire purchase contracts
105,777 
116,938 
Other creditors
110,620 
95,640 
259,331 
271,892 
8
Average number of employees
During the year the average number of employees was 5 (2024: 3).
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