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Registered number: 06473470


IHBC ENTERPRISES LIMITED
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
IHBC ENTERPRISES LIMITED
 
 
COMPANY INFORMATION


Directors
S O'Reilly 
J Evans 
J Kerry 
D McDonald 




Company secretary
L Porter



Registered number
06473470



Registered office
Jubilee House
High Street

Tisbury

Wiltshire

SP3 6HA




Accountants
Larking Gowen LLP
Chartered Accountants

1st Floor, Prospect House

Rouen Road

Norwich

NR1 1RE





 
IHBC ENTERPRISES LIMITED
 

CONTENTS



Page
Directors' Report
 
1
Accountants' Report
 
2
Statement of Income and Retained Earnings
 
3
Balance Sheet
 
4 - 5
Notes to the Financial Statements
 
6 - 9


 
IHBC ENTERPRISES LIMITED
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

S O'Reilly 
J Evans 
J Kerry 
D McDonald 

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 



D McDonald
Director

Date: 2 June 2025

Page 1

 
IHBC ENTERPRISES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF IHBC ENTERPRISES LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IHBC Enterprises Limited for the year ended 30 September 2024 which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of IHBC Enterprises Limited, as a body, in accordance with the terms of our engagement letter dated 15 April 2025Our work has been undertaken solely to prepare for your approval the financial statements of IHBC Enterprises Limited and state those matters that we have agreed to state to the Board of Directors of IHBC Enterprises Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IHBC Enterprises Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that IHBC Enterprises Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of IHBC Enterprises Limited. You consider that IHBC Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of IHBC Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Larking Gowen LLP
 
Chartered Accountants
  
Norwich
3 June 2025
Page 2

 
IHBC ENTERPRISES LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

Turnover
  
138,983
146,738

Cost of sales
  
(90,926)
(70,783)

Gross profit
  
48,057
75,955

Administrative expenses
  
(8,431)
(6,464)

Operating profit
  
39,626
69,491

Interest receivable and similar income
  
1,814
803

Profit before tax
  
41,440
70,294

Profit after tax
  
41,440
70,294

  

  

Retained earnings at the beginning of the year
  
71,402
76,447

  
71,402
76,447

Profit for the year
  
41,440
70,294

Distribution - donations to parent charity
  
(70,845)
(75,339)

Retained earnings at the end of the year
  
41,997
71,402
The notes on pages 6 to 9 form part of these financial statements.

Page 3

 
IHBC ENTERPRISES LIMITED
REGISTERED NUMBER:06473470

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,311
557

  
1,311
557

Current assets
  

Debtors: amounts falling due within one year
 5 
6,699
7,577

Cash at bank and in hand
 6 
70,091
90,480

  
76,790
98,057

Creditors: amounts falling due within one year
 7 
(26,104)
(17,212)

Net current assets
  
 
 
50,686
 
 
80,845

Total assets less current liabilities
  
51,997
81,402

  

Net assets
  
51,997
81,402


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
41,997
71,402

  
51,997
81,402


Page 4

 
IHBC ENTERPRISES LIMITED
REGISTERED NUMBER:06473470
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D McDonald
Director

Date: 2 June 2025

The notes on pages 6 to 9 form part of these financial statements.

Page 5

 
IHBC ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

IHBC Enterprises Limited is a private company limited by shares incorporated in England and Wales, registration number 06473470. The registered office is Jubilee House, High Street, Tisbury, Wiltshire, SP3 6HA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency  of the company rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Tax

The company is owned by a charity and is therefore permitted to account the tax consequences of gift aid payments to the parent charity earlier than the period in which the payments are made, where it is probable that the payments will be made within nine months of the reporting date. As such no tax charge is provided for in these accounts. 

Page 6

 
IHBC ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
2,800
2,901

2,800
2,901


The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 7

 
IHBC ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 October 2023
5,941


Additions
1,291


Disposals
(3,063)



At 30 September 2024

4,169



Depreciation


At 1 October 2023
5,384


Charge for the year on owned assets
537


Disposal of subsidiary
(3,063)



At 30 September 2024

2,858



Net book value



At 30 September 2024
1,311



At 30 September 2023
557


5.


Debtors

2024
2023
£
£


Trade debtors
6,661
6,251

Prepayments and accrued income
38
1,326

6,699
7,577


Page 8

 
IHBC ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
70,091
90,480

70,091
90,480



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
5,358
4,092

Amounts owed to group undertakings
10,090
506

Other taxation and social security
3,776
4,694

Accruals and deferred income
6,880
7,920

26,104
17,212



8.


Related party transactions

The company has taken advantage of the exemption not to disclose transactions with 100% group companies.


9.


Controlling party

The company is controlled by its 100% parent, The Institute of Historic Building Conservation, a registered charity. The Institute of Historic Building Conservation is the company's immediate and ultimate parent company and is exempt from preparing consolidated financial statements. 

 
Page 9