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REGISTERED NUMBER: 01278997 (England and Wales)














IVOR INNES LTD

Unaudited Financial Statements

For The Year Ended 30 September 2024






IVOR INNES LTD (Registered number: 01278997)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


IVOR INNES LTD

Company Information
For The Year Ended 30 September 2024







DIRECTORS: I D Innes
Mrs J A Innes
D I Innes
Mrs N Rennardson
P Cox



SECRETARY: D I Innes



REGISTERED OFFICE: 11-13 The Square
Hessle
East Yorkshire
HU13 0AF



REGISTERED NUMBER: 01278997 (England and Wales)



ACCOUNTANTS: Ingham & Co.
Chartered Accountants
George Stanley House
2 West Parade Road
Scarborough
North Yorkshire
YO12 5ED



BANKERS: National Westminster Bank Plc
11 South Lane
Hessle
East Yorkshire
HU13 ORR

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
IVOR INNES LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IVOR INNES LTD for the year ended 30 September 2024 which comprise the Income Statement, Abridged 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of IVOR INNES LTD, as a body, in accordance with the terms of our engagement letter dated 26 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of IVOR INNES LTD and state those matters that we have agreed to state to the Board of Directors of IVOR INNES LTD, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IVOR INNES LTD and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that IVOR INNES LTD 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 loss of IVOR INNES LTD. You consider that IVOR INNES LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of IVOR INNES LTD. 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.






Ingham & Co.
Chartered Accountants
George Stanley House
2 West Parade Road
Scarborough
North Yorkshire
YO12 5ED


26 June 2025

IVOR INNES LTD (Registered number: 01278997)

Abridged Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 513,240 536,452
513,240 536,452

CURRENT ASSETS
Stocks 214,738 228,139
Debtors 55,813 44,872
Cash at bank and in hand 85,309 98,044
355,860 371,055
CREDITORS
Amounts falling due within one year 428,645 426,650
NET CURRENT LIABILITIES (72,785 ) (55,595 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

440,455

480,857

CREDITORS
Amounts falling due after more than one
year

6

(307,513

)

(142,913

)

PROVISIONS FOR LIABILITIES (20,472 ) (29,247 )
NET ASSETS 112,470 308,697

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Revaluation reserve 9 32,015 32,015
Retained earnings 75,455 271,682
SHAREHOLDERS' FUNDS 112,470 308,697

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 directors acknowledge their 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.

IVOR INNES LTD (Registered number: 01278997)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:




I D Innes - Director



D I Innes - Director


IVOR INNES LTD (Registered number: 01278997)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

IVOR INNES 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1996, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 1% on cost
Computers and equipment - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Camera equipment - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

IVOR INNES LTD (Registered number: 01278997)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023
and 30 September 2024 50,000
AMORTISATION
At 1 October 2023
and 30 September 2024 50,000
NET BOOK VALUE

At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 October 2023 1,152,977
Additions 1,019
At 30 September 2024 1,153,996
DEPRECIATION
At 1 October 2023 616,525
Charge for year 24,231
At 30 September 2024 640,756
NET BOOK VALUE
At 30 September 2024 513,240
At 30 September 2023 536,452

IVOR INNES LTD (Registered number: 01278997)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 September 2024 is represented by:

Totals
£   
Valuation in 2002 (18,539 )
Cost 1,172,535
1,153,996

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 542,576 542,576
Aggregate depreciation 113,988 108,947

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST OR VALUATION
At 1 October 2023
and 30 September 2024 77,824
DEPRECIATION
At 1 October 2023 44,992
Charge for year 8,208
At 30 September 2024 53,200
NET BOOK VALUE
At 30 September 2024 24,624
At 30 September 2023 32,832

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans repayable after more than five
years

202,558

66,740

IVOR INNES LTD (Registered number: 01278997)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 13,122 12,470
Between one and five years 10,036 23,158
23,158 35,628

Non-cancellable operating leases
2024 2023
£    £   
Within one year 575 -
Between one and five years 1,870 -
2,445 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 317,652 138,908
Hire purchase contracts 23,158 35,628
340,810 174,536

9. RESERVES
Revaluation
reserve
£   
At 1 October 2023
and 30 September 2024 32,015

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
D I Innes
Balance outstanding at start of year - -
Amounts advanced 22,407 18,634
Amounts repaid (22,407 ) (18,634 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

IVOR INNES LTD (Registered number: 01278997)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

P Cox
Balance outstanding at start of year - -
Amounts advanced 1,942 1,946
Amounts repaid (1,942 ) (1,946 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

11. RELATED PARTY DISCLOSURES

The following balances were due to/(from) the Directors:
2024 2023
£    £   
Mr & Mrs I D Innes 58,673 61,139
Mr & Mrs D I Innes 2,789 11,770
Mr P Cox 60 56


Interest was paid to the Directors as follows:
2024 2023
£    £   
Mr & Mrs I D Innes 1,748 1,809

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs I D Innes and D I Innes.