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Company Registration No. 03239173 (England and Wales)
Ibstock Community Enterprises Limited Unaudited accounts for the year ended 31 August 2025
Ibstock Community Enterprises Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Ibstock Community Enterprises Limited Company Information for the year ended 31 August 2025
Directors
Peter James Cawte Barry Hayles Patrick Michael Wilford
Company Number
03239173 (England and Wales)
Registered Office
57 High Street Ibstock Leicestershire LE67 6LH
Accountants
121 Local Accounting Ltd Unit 15, Whitwick Business Centre Stenson Road Coalville Leicestershire LE67 4JP
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Ibstock Community Enterprises Limited Statement of financial position as at 31 August 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
27,424
46,204
Tangible assets
5
1,963
1,027
Investment property
6
585,000
585,000
614,387
632,231
Current assets
Inventories
6,883
7,148
Debtors
7
3,984
2,994
Cash at bank and in hand
23,096
72,547
33,963
82,689
Creditors: amounts falling due within one year
8
(21,244)
(23,711)
Net current assets
12,719
58,978
Total assets less current liabilities
627,106
691,209
Creditors: amounts falling due after more than one year
9
(122,882)
(127,831)
Provisions for liabilities
Deferred tax
(24,023)
(24,023)
Net assets
480,201
539,355
Reserves
10
Revaluation reserve
382,038
382,038
Profit and loss account
98,163
157,317
Members' funds
480,201
539,355
For the year ending 31 August 2025 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2025 and were signed on its behalf by
Barry Hayles Director Company Registration No. 03239173
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Ibstock Community Enterprises Limited Notes to the Accounts for the year ended 31 August 2025
1
Statutory information
Ibstock Community Enterprises Limited is a private company, limited by guarantee, registered in England and Wales, registration number 03239173. The registered office is 57 High Street, Ibstock, Leicestershire, LE67 6LH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Goodwill
On 16 February 2012 the company purchased the goodwill of The Post Office and Lease of 118-120 High Street, Ibstock. The goodwill was not being amortised but from 1 September 2018 it was decided that it should be written off in equal instalments over the following 10 years and then revised further on 1 September 2020 to be written off over the remainder of the lease, which ends on 16 February 2027.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Stocks
Stocks have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The company operates as a social enterprise and is exempt from paying corporation tax on the business profits. Taxation for the year on capital items 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 exact amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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Ibstock Community Enterprises Limited Notes to the Accounts for the year ended 31 August 2025
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leasing commitments
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2024
151,656
At 31 August 2025
151,656
Amortisation
At 1 September 2024
105,452
Charge for the year
18,780
At 31 August 2025
124,232
Net book value
At 31 August 2025
27,424
At 31 August 2024
46,204
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Ibstock Community Enterprises Limited Notes to the Accounts for the year ended 31 August 2025
5
Tangible fixed assets
Plant & machinery
£
Cost or valuation
At cost
At 1 September 2024
145,804
Additions
1,588
At 31 August 2025
147,392
Depreciation
At 1 September 2024
144,777
Charge for the year
652
At 31 August 2025
145,429
Net book value
At 31 August 2025
1,963
At 31 August 2024
1,027
6
Investment property
2025
£
Fair value at 1 September 2024
585,000
At 31 August 2025
585,000
Investment property was professionally valued on 21 May 2018 and the directors consider that this valuation is still applicable at 31 August 2025. Fair value at 31 August 2025 is represented by cost of £480,195 and valuation in 2018 of £104,805.
7
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
1,101
317
Other debtors
2,883
2,677
3,984
2,994
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
4,948
4,948
Trade creditors
2,571
1,292
Taxes and social security
7,869
10,843
Other creditors
5,856
6,628
21,244
23,711
Bank loans payable within one year of £4,948 (2024 £4,948) are secured on the assets of the company.
- 7 -
Ibstock Community Enterprises Limited Notes to the Accounts for the year ended 31 August 2025
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
122,882
127,831
Bank loans payable after more than one year of £122,882 (2024 £127,831) are secured on the assets of the company.
10
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
11
Average number of employees
During the year the average number of employees was 7 (2024: 7).
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