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Registered number: 08053412
Ideal Letting Homes Ltd
Financial Statements
For The Year Ended 30 November 2024
J.R. Accounts Ltd
Chartered Certified Accountants
34-37 Liverpool Street
London
EC2M 7PP
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mrs Shahnilah Razaq
Company Number 08053412
Registered Office C/O J.R. Accounts Ltd
34-37 Liverpool Street
London
EC2M 7PP
Accountants J.R. Accounts Ltd
Chartered Certified Accountants
34-37 Liverpool Street
London
EC2M 7PP
Page 1
Page 2
Balance Sheet
Registered number: 08053412
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 2,506 3,132
2,506 3,132
CURRENT ASSETS
Debtors 4 1,016 1,335
Investments 5 20,000 25,000
Cash at bank and in hand 462,085 416,774
483,101 443,109
Creditors: Amounts Falling Due Within One Year 6 (477,542 ) (427,353 )
NET CURRENT ASSETS (LIABILITIES) 5,559 15,756
TOTAL ASSETS LESS CURRENT LIABILITIES 8,065 18,888
Creditors: Amounts Falling Due After More Than One Year 7 (15,831 ) (25,833 )
NET LIABILITIES (7,766 ) (6,945 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (7,866 ) (7,045 )
SHAREHOLDERS' FUNDS (7,766) (6,945)
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs Shahnilah Razaq
Director
19 June 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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:
Fixtures & Fittings 20% on reducing balance
Computer Equipment 20% on reducing balance
2. Average Number of Employees
Average number of employees, including the director, during the year was: 5 (2023: 5)
5 5
3. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 December 2023 2,105 5,714 7,819
As at 30 November 2024 2,105 5,714 7,819
Depreciation
As at 1 December 2023 1,641 3,046 4,687
Provided during the period 92 534 626
As at 30 November 2024 1,733 3,580 5,313
...CONTINUED
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Net Book Value
As at 30 November 2024 372 2,134 2,506
As at 1 December 2023 464 2,668 3,132
4. Debtors
2024 2023
£ £
Due within one year
Other taxes and social security 1,016 -
Director's loan account - 1,335
1,016 1,335
5. Current Asset Investments
2024 2023
£ £
Unlisted investments 20,000 25,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax - 55
Other taxes and social security - 427
VAT 5,752 4,185
Other creditors 5,260 4,536
Client deposit account 461,306 415,990
Accruals and deferred income 2,310 2,160
Director's loan account 2,914 -
477,542 427,353
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,831 25,833
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mrs Shahnilah Razaq 1,335 - 1,335 - -
The above loan is unsecured, interest free and repayable on demand.
Page 6