| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| IDEALREVIEW LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| IDEALREVIEW LIMITED |
| IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| IDEALREVIEW LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chandler House |
| 7 Ferry Road Office Park |
| Riversway |
| Preston |
| Lancashire |
| PR2 2YH |
| IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
| BALANCE SHEET |
| 30 NOVEMBER 2024 |
| 30/11/24 | 30/11/23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Investments | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Fair value reserve | 12 | ( |
) | ( |
) |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| 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. |
| IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
| BALANCE SHEET - continued |
| 30 NOVEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Idealreview Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is shorter. |
| Computer equipment - 25% on cost |
| Motor vehicles - 25% on cost |
| IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, |
| when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Basic financial assets |
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
| Impairment of financial assets |
| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. |
| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate.The impairment loss is recognised in profit or loss. |
| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
| Derecognition of financial assets |
| Financial assets are derecognised only when the contractual rights to the cash flows from the asset |
| expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and |
| preference shares that are classified as debt, are initially recognised at transaction price unless the |
| arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Derecognition of financial liabilities |
| Financial liabilities are derecognised when the company’s contractual obligations expire or are |
| discharged or cancelled. |
| 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. |
| 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. |
| Going concern |
| The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
| Fixed and current asset investments |
| Investments in another entity's equity shares are measured at fair value, unless it is an unlisted investment whose fair value cannot be reliably measured, in which case it is measured at cost less impairment. |
| Changes in fair value are recognised in the profit and loss account. |
| IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 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 of the term, whichever is the shorter. |
| The interest element is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 December 2023 |
| and 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Other investments not loans |
| IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| Additional information is as follows: |
| Listed | Unlisted |
| investments | investments | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 December 2023 | 1,641,317 |
| Additions | 123,145 |
| Disposals | ( |
) | ( |
) | (685,036 | ) |
| Revaluations | ( |
) | ( |
) | (230,928 | ) |
| Reclassification/transfer | ( |
) | - |
| At 30 November 2024 | 848,498 |
| NET BOOK VALUE |
| At 30 November 2024 | 848,498 |
| At 30 November 2023 | 1,641,317 |
| Investments (neither listed nor unlisted) were as follows: |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Other investments | 250,005 | 250,005 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 1,003 | - |
| Tax |
| VAT |
| Deferred tax asset |
| Prepayments |
| 7. | CURRENT ASSET INVESTMENTS |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Money market funds | 504,562 | - |
| IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Directors' current accounts | - | 161,702 |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Hire purchase contracts |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Hire purchase contracts | 16,552 | 19,224 |
| The liabilities due under hire purchase agreements is secured on the related assets. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30/11/24 | 30/11/23 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| IDEALREVIEW LIMITED (REGISTERED NUMBER: 02966481) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 12. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 December 2023 | ( |
) | 2,020,620 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Transfer between reserves | 372,725 | (372,725 | ) | - |
| At 30 November 2024 | ( |
) | 2,508,338 |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| As at 30 November 2024 a Director owed the company £1,003. The amount owed is deemed repayable on demand and no interest has been charged. |
| 14. | RELATED PARTY DISCLOSURES |
| The following entities are deemed to be related parties. |
| During the year the company loaned various monies to Brindle Homes Limited. Included in other debtors ia an amount of £844,000 (2023: £665,000) due from Brindle Homes Limited.The loan is deemed repayable on demand and no interest has been charged. |
| The amount due from The David Brown Discretionary Settlement Trust has been repaid in full during the year and as such there is no balance outstanding at the year end (2023: £40,000 included in other debtors). No interest has been charged. |
| The amount due to DGB1998 Holdings Limited has been repaid in full during the year and as such there is no balance outstanding at the year end (2023: £569,311 included in creditors). No interest has been charged. |