IP BY DESIGN LTD


Directors	O'CONNELL, Daniel Joseph
	PALMER, Derek Adeyemi, Dr


Registered Address	1a Latimer Street
	Leicester
	LE3 0QF


Registered Number	07382849 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	31 Dec 2024		30 Jun 2023
		£	£	£	£
Fixed assets
Tangible assets	3		-		178
			-		178
Current assets
Debtors	4	70,155		101,194
Cash at bank and on hand		9,778		16,831
		79,933		118,025
Creditors amounts falling due within one year	5	(14,623)		(44,645)
Net current assets (liabilities)			65,310		73,380
Total assets less current liabilities			65,310		73,558
Creditors amounts falling due after one year	6		(4,200)		(22,834)
Net assets			61,110		50,724
Capital and reserves
Called up share capital			25,825		25,825
Profit and loss account			35,285		24,899
Shareholders' funds			61,110		50,724

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 29 September 2025, and are signed on its behalf by:

PALMER, Derek Adeyemi, Dr
Director
Registered Company No. 07382849

IP BY DESIGN LTD

Notes to the Financial Statements
for the period ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	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 rendering of services.

	Revenue from rendering of services
	Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		1

3.	Tangible fixed assets

	Plant & machinery	Total
	£	£
Cost or valuation
At 01 July 23	178	178
Disposals	(178)	(178)
Net book value
At 31 December 24	-	-
At 30 June 23	178	178

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	7,800	19,890
Other debtors	61,530	73,025
Total	69,330	92,915

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	501	4,190
Bank borrowings and overdrafts	7,454	7,454
Taxation and social security	4,344	6,501
Other creditors	325	4,500
Accrued liabilities and deferred income	1,999	22,000
Total	14,623	44,645


	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.

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	4,200	22,834
Total	4,200	22,834


	Creditors after one year consitof bank loan (Bounceback) being repaid over an extended period.