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REGISTERED NUMBER: 07009750 (England and Wales)















I Buy Houses Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2024






I Buy Houses Ltd (Registered number: 07009750)






Contents of the Financial Statements
for the year ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


I Buy Houses Ltd

Company Information
for the year ended 30 September 2024







DIRECTOR: L Liao





REGISTERED OFFICE: 246 Dunkirk Lane
Leyland
PR26 7SN





REGISTERED NUMBER: 07009750 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

I Buy Houses Ltd (Registered number: 07009750)

Balance Sheet
30 September 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Investment property 4 439,811 439,811

CURRENT ASSETS
Debtors 5 1,549 1,549
Cash at bank 737 2,564
2,286 4,113
CREDITORS
Amounts falling due within one year 6 9,471 11,524
NET CURRENT LIABILITIES (7,185 ) (7,411 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

432,626

432,400

CREDITORS
Amounts falling due after more than one
year

7

380,000

380,000
NET ASSETS 52,626 52,400

CAPITAL AND RESERVES
Called up share capital 8 6 6
Retained earnings 52,620 52,394
SHAREHOLDERS' FUNDS 52,626 52,400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

I Buy Houses Ltd (Registered number: 07009750)

Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 June 2025 and were signed by:





L Liao - Director


I Buy Houses Ltd (Registered number: 07009750)

Notes to the Financial Statements
for the year ended 30 September 2024

1. STATUTORY INFORMATION

I Buy Houses Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The amounts in the financial statements have been rounded to the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis despite the excess of liabilities over assets as the director has indicated his willingness to continue to support the company.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

I Buy Houses Ltd (Registered number: 07009750)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 October 2023
and 30 September 2024 439,811
NET BOOK VALUE
At 30 September 2024 439,811
At 30 September 2023 439,811

Investment properties were valued on an open market basis on 30 September 2024 by the Director L Liao.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 1,549 1,549

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Taxation and social security 31 2,395
Other creditors 9,440 9,129
9,471 11,524

Included in other creditors is an amount owing to the director of £6,648 (2023: £6,336),which is unsecured, interest free and has no fixed repayment terms.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other creditors 380,000 380,000

Included in other creditors is an amount owing to the director of £380,000 (2023: £380,000),which is unsecured, interest free and has no fixed repayment terms.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
6 Ordinary £1 6 6

I Buy Houses Ltd (Registered number: 07009750)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

9. RELATED PARTY DISCLOSURES

In the opinion of the directors the company is controlled by L Liao.