REGISTERED NUMBER: 10525592 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Ivy Resource Group Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

R S Winchle

C E Winchle

REGISTERED OFFICE:

14 Wheatstone Court

Quedgeley

Gloucester

GL2 2AQ

REGISTERED NUMBER:

10525592 (England and Wales)

ACCOUNTANTS:

HATS Gloucester Ltd

48 Hucclecote Road

Gloucester

Gloucestershire

GL3 3RS

FIXED ASSETS

Tangible assets

4

61,983

67,602

CURRENT ASSETS

Debtors

5

1,412,226

917,701

Cash at bank

150,814

163,957

1,563,040

1,081,658

CREDITORS

Amounts falling due within one year

6

1,505,502

1,020,473

NET CURRENT ASSETS

57,538

61,185

TOTAL ASSETS LESS CURRENT LIABILITIES

119,521

128,787

CREDITORS

Amounts falling due after more than one year

7

(1,667

)

(11,667

)

PROVISIONS FOR LIABILITIES

9

(15,495

)

(16,900

)

NET ASSETS

102,359

100,220

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

102,357

100,218

SHAREHOLDERS' FUNDS

102,359

100,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by:

R S Winchle - Director

1.	STATUTORY INFORMATION

Ivy Resource Group 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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Straight line over 50 years

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 15 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2024

47,607

1,016

17,611

23,725

89,959

Additions

-

-

-

5,709

5,709

Disposals

-

-

(7,549

)

(5,332

)

(12,881

)

At 31 March 2025

47,607

1,016

10,062

24,102

82,787

Depreciation

At 1 April 2024

952

343

9,207

11,855

22,357

Charge for year

952

254

3,809

6,313

11,328

Eliminated on disposal

-

-

(7,549

)

(5,332

)

(12,881

)

At 31 March 2025

1,904

597

5,467

12,836

20,804

Net book value

At 31 March 2025

45,703

419

4,595

11,266

61,983

At 31 March 2024

46,655

673

8,404

11,870

67,602

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

1,202,318

802,548

Other debtors

-

1,000

Prepayments and accrued income

209,908

114,153

1,412,226

917,701

Majority of the trade debtors are factored to Aldermore Bank Plc has a fixed and floating charge debenture over all the assets, present and future of the company.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

14,425

18,239

Taxation and social security

204,888

76,344

Other creditors

1,276,189

915,890

1,505,502

1,020,473

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans

1,667

11,667

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/3/25

31/3/24

£

£

Within one year

3,540

3,540

Between one and five years

1,475

5,015

5,015

8,555

9.	PROVISIONS FOR LIABILITIES

31/3/25

31/3/24

£

£

Deferred tax

15,495

16,900

Deferred

tax

£

Balance at 1 April 2024

16,900

Credit to Income Statement during year

(1,405

)

Balance at 31 March 2025

15,495

10.	RELATED PARTY DISCLOSURES

At 31 March 2025, the company owed the directors R S Winchle and C E Winchle £651 and £2,388 respectively (2024 - £339 and £2,076 respectively). The balances owed, included within other creditors, are made up of loans to the company not yet reimbursed and declared dividends directly credited to the directors' loan account. The loan balances are repayable to the directors on demand.

At 31 March 2025, the company owes £271,174 (2024 - £120,609) to Ivy Group Holdings Ltd, a company controlled by the directors of this company. The balance owed, included in other creditors, is interest free and repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Ivy Group Holdings Ltd, a company registered in England and Wales. The company is controlled by directors of Ivy Resource Group Ltd. Ivy Group Holding Ltd, which shares the same registered office as Ivy Resource Group Ltd, has taken the option under Section 399(2A) of the Companies House Act 2006 not to prepare consolidated financial statements