Registered number
11108732
Iland Group Ltd
Filleted Accounts
31 December 2024
Iland Group Ltd
Registered number: 11108732
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,875 110
Current assets
Stocks 10,810 11,560
Debtors 4 12,950 14,527
Investments held as current assets 5 3,500 3,500
Cash at bank and in hand 15,462 24,402
42,722 53,989
Creditors: amounts falling due within one year 6 (12,088) (25,992)
Net current assets 30,634 27,997
Total assets less current liabilities 38,509 28,107
Creditors: amounts falling due after more than one year 7 (20,843) 10,865
Net assets 17,666 38,972
Capital and reserves
Called up share capital 51 51
Profit and loss account 17,615 38,921
Shareholders' funds 17,666 38,972
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Phillip Ireland
Director
Approved by the board on 5 September 2025
Iland Group Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured 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 stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Motor Vehicles Computer equipment Total
£ £ £
Cost
At 1 January 2024 - 4,607 4,607
Additions 9,000 - 9,000
At 31 December 2024 9,000 4,607 13,607
Depreciation
At 1 January 2024 - 4,497 4,497
Charge for the year 1,125 110 1,235
At 31 December 2024 1,125 4,607 5,732
Net book value
At 31 December 2024 7,875 - 7,875
At 31 December 2023 - 110 110
4 Debtors 2024 2023
£ £
Trade debtors 2,700 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 10,250 6,250
Other debtors - 8,277
12,950 14,527
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 3,500 3,500
6 Creditors: amounts falling due within one year 2024 2023
£ £
Accrued expenses 938 1,221
Bank loans and overdrafts 4,095 -
Directors loan account 1,134 3,500
Taxation and social security costs 5,921 21,271
12,088 25,992
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 20,843 (10,865)
8 Other information
Iland Group Ltd is a private company limited by shares and incorporated in England. Its registered office is:
211 Manchester New Road
Alkrington
Middleton
Manchester
M24 1JT
Iland Group Ltd 11108732 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2025 Phillip Ireland No description of principal activity 11108732 2023-01-01 2023-12-31 11108732 core:WithinOneYear 2023-12-31 11108732 core:AfterOneYear 2023-12-31 11108732 core:ShareCapital 2023-12-31 11108732 core:RetainedEarningsAccumulatedLosses 2023-12-31 11108732 2024-01-01 2024-12-31 11108732 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11108732 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11108732 bus:Director40 2024-01-01 2024-12-31 11108732 1 2024-01-01 2024-12-31 11108732 2 2024-01-01 2024-12-31 11108732 core:LandBuildings 2024-01-01 2024-12-31 11108732 core:Vehicles 2024-01-01 2024-12-31 11108732 countries:England 2024-01-01 2024-12-31 11108732 bus:FRS102 2024-01-01 2024-12-31 11108732 bus:FilletedAccounts 2024-01-01 2024-12-31 11108732 2024-12-31 11108732 core:WithinOneYear 2024-12-31 11108732 core:AfterOneYear 2024-12-31 11108732 core:ShareCapital 2024-12-31 11108732 core:RetainedEarningsAccumulatedLosses 2024-12-31 11108732 core:LandBuildings 2024-12-31 11108732 core:Vehicles 2024-12-31 11108732 2023-12-31 11108732 core:LandBuildings 2023-12-31 11108732 core:Vehicles 2023-12-31 iso4217:GBP xbrli:pure