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REGISTERED NUMBER: SC548147 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Ivanhoe Forth Limited

Ivanhoe Forth Limited (Registered number: SC548147)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ivanhoe Forth Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: Mr D Wishart





REGISTERED OFFICE: International House
38 Thistle Street
Edinburgh
EH2 1EN





REGISTERED NUMBER: SC548147 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Ivanhoe Forth Limited (Registered number: SC548147)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £   
CURRENT ASSETS
Stocks 476,443 1,191,092
Debtors 4 6,316 17,196
Cash at bank 267,688 186,024
750,447 1,394,312
CREDITORS
Amounts falling due within one year 5 204,278 194,676
NET CURRENT ASSETS 546,169 1,199,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

546,169

1,199,636

CREDITORS
Amounts falling due after more than one
year

6

1,041,229

1,360,811
NET LIABILITIES (495,060 ) (161,175 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (495,061 ) (161,176 )
(495,060 ) (161,175 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 July 2025 and were signed by:




Mr D Wishart - Director


Ivanhoe Forth Limited (Registered number: SC548147)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Ivanhoe Forth Limited is a private company, limited by shares , registered in Scotland. 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 (£).


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.

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

Stocks
Work in progress is valued based on the costs of work done, less any impairment.

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.

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 2 (2023 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Other debtors 6,316 17,196

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Taxation and social security 12,397 2,503
Other creditors 191,881 192,173
204,278 194,676

Ivanhoe Forth Limited (Registered number: SC548147)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 1,041,229 1,360,811

7. SECURED DEBTS

Bank of Scotland PLC hold a floating charge and security over land held in stock by the company.
Fife Council hold security over land held in stock by the company.
James Penman (Plant Hire) Ltd hold security over an asset held in stock by the company.

8. GOING CONCERN

The company's main creditor is a large loan. Since the year end, part of this loan has been repaid from the sale of goods within work-in-progress, However, the borrowing is in excess of the value obtained. Therefore, contract work has been obtained to support the companies income and the director is confident that with the awarded contracts and new work in the pipeline, the company can meet all of its liabilities.
The director, having considered the above, continues to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.