Company Registration No. 09499687 (England and Wales)
Ibbidirect Limited
Unaudited accounts
for the year ended 31 March 2025
Ibbidirect Limited
Unaudited accounts
Contents
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
Ibbidirect Limited
Statement of financial position
as at 31 March 2025
Tangible assets
10,002
7,097
Cash at bank and in hand
946
14,449
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)
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
Ibbidirect Limited
Notes to the Accounts
for the year ended 31 March 2025
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.
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 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 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 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.
The accounts are presented in £ sterling.
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.
Ibbidirect Limited
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Deferred tax asset
731
180
Accrued income and prepayments
19,737
33,819
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
11,833
5,514
Trade creditors
15,585
35,882
Taxes and social security
5,414
14,624
Loans from directors
-
122
7
Creditors: amounts falling due after more than one year
2025
2024
8
Average number of employees
During the year the average number of employees was 5 (2024: 5).