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Company Registration No. 09499687 (England and Wales)
Ibbidirect Limited Unaudited accounts for the year ended 31 March 2025
Ibbidirect Limited Unaudited accounts Contents
Page
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Ibbidirect Limited Company Information for the year ended 31 March 2025
Directors
Eliza Browne-Swinburne Anna Louise Kirkup Caroline Claire McAlpine
Company Number
09499687 (England and Wales)
Registered Office
Ibbi Direct The ibbi Building Vallum Farm, East Wallhouses Newcastle Upon Tyne Tyne and Wear NE18 0LL England
Accountants
Harris 21 Ltd The Core Newcastle Helix Newcastle Upon Tyne NE4 5TF
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Ibbidirect Limited Statement of financial position as at 31 March 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,002 
7,097 
Current assets
Inventories
87,186 
83,072 
Debtors
29,167 
42,026 
Cash at bank and in hand
946 
14,449 
117,299 
139,547 
Creditors: amounts falling due within one year
(50,426)
(70,571)
Net current assets
66,873 
68,976 
Total assets less current liabilities
76,875 
76,073 
Creditors: amounts falling due after more than one year
(22,936)
(28,819)
Net assets
53,939 
47,254 
Capital and reserves
Called up share capital
150 
150 
Profit and loss account
53,789 
47,104 
Shareholders' funds
53,939 
47,254 
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2025 and were signed on its behalf by
Anna Louise Kirkup Director Company Registration No. 09499687
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Ibbidirect Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Ibbidirect Limited is a private company, limited by shares, registered in England and Wales, registration number 09499687. The registered office is Ibbi Direct, The ibbi Building, Vallum Farm, East Wallhouses, Newcastle Upon Tyne, Tyne and Wear, NE18 0LL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention in accordance with FRS102, The Financial Reporting Standard applicable to UK and Republic of Ireland (as applied to small entities by Section 1A of the standard).
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in, first out method. The carrying amount of inventory is recognised as an expense in the period in which the related revenue is recognised.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Presentation currency
The accounts are presented in £ sterling.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Ibbidirect Limited Notes to the Accounts for the year ended 31 March 2025
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2024
18,225 
Additions
5,141 
At 31 March 2025
23,366 
Depreciation
At 1 April 2024
11,128 
Charge for the year
2,236 
At 31 March 2025
13,364 
Net book value
At 31 March 2025
10,002 
At 31 March 2024
7,097 
5
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,597 
8,027 
Deferred tax asset
731 
180 
Accrued income and prepayments
19,737 
33,819 
Other debtors
3,102 
- 
29,167 
42,026 
6
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Bank loans and overdrafts
11,833 
5,514 
VAT
10,244 
11,779 
Trade creditors
15,585 
35,882 
Taxes and social security
5,414 
14,624 
Other creditors
6,755 
- 
Loans from directors
- 
122 
Accruals
595 
2,650 
50,426 
70,571 
7
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Bank loans
22,936 
28,819 
8
Average number of employees
During the year the average number of employees was 5 (2024: 5).
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