Company registration number 01773692 (England and Wales)
IBCON CONSTRUCTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
IBCON CONSTRUCTION LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
IBCON CONSTRUCTION LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
43,110
23,079
Investment property
5
1,995,000
1,995,000
2,038,110
2,018,079
Current assets
Stocks
6
682,000
725,545
Debtors
7
122,367
108,278
Cash at bank and in hand
625,645
409,412
1,430,012
1,243,235
Creditors: amounts falling due within one year
8
(530,325)
(467,041)
Net current assets
899,687
776,194
Total assets less current liabilities
2,937,797
2,794,273
Provisions for liabilities
(6,120)
(5,770)
Net assets
2,931,677
2,788,503
Capital and reserves
Called up share capital
105
105
Profit and loss reserves
2,931,572
2,788,398
Total equity
2,931,677
2,788,503
IBCON CONSTRUCTION LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025
31 January 2025
- 2 -

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 8 October 2025 and are signed on its behalf by:
Mr I Bridgett
Director
Company registration number 01773692 (England and Wales)
IBCON CONSTRUCTION LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 February 2023
105
2,667,349
2,667,454
Year ended 31 January 2024:
Profit and total comprehensive income
-
152,393
152,393
Dividends
-
(31,344)
(31,344)
Balance at 31 January 2024
105
2,788,398
2,788,503
Year ended 31 January 2025:
Profit and total comprehensive income
-
178,174
178,174
Dividends
-
(35,000)
(35,000)
Balance at 31 January 2025
105
2,931,572
2,931,677
IBCON CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
1
Accounting policies
Company information

Ibcon Construction Limited is a private company limited by shares incorporated in England and Wales. Registered number 01773692. The registered office is The Quay, 30 Channel Way, Ocean Village, Southampton, Hampshire, SO14 3TG.

1.1
Accounting convention

These financial statements have been prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2
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 is reduced for estimated customer returns, rebates and other similar allowances.

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 the 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.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line
Fixtures and fittings
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Investment property

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

1.5
Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.6
Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

IBCON CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
IBCON CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2024
170,965
Additions
23,473
At 31 January 2025
194,438
Depreciation and impairment
At 1 February 2024
147,886
Depreciation charged in the year
3,442
At 31 January 2025
151,328
Carrying amount
At 31 January 2025
43,110
At 31 January 2024
23,079
5
Investment property
2025
£
Fair value
At 1 February 2024 and 31 January 2025
1,995,000
6
Stocks
2025
2024
£
£
Stocks
682,000
725,545
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
10,980
-
0
Other debtors
111,387
108,278
122,367
108,278
IBCON CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
25,527
-
0
Corporation tax
58,759
44,697
Other taxation and social security
-
0
2,344
Other creditors
446,039
420,000
530,325
467,041
9
Directors' transactions

Dividends totalling £1,000 (2024 - £30,044) were paid in the year in respect of shares held by the company's directors.

10
Ultimate controlling party

The ultimate controlling parties are the directors.

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