Independence Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03784086

Independence Limited

Unaudited financial statements

31 December 2025

Independence Limited

Statement of financial position

31 December 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		23,053		29,337

Current assets

Stocks		254,342	224,969
Debtors	6	439,369	121,479
Cash at bank and in hand		161,085	523,691
		---------	---------
		854,796	870,139

Creditors: Amounts falling due within one year	7	( 363,205)		( 302,105)
		---------		---------
Net current assets			491,591		568,034
			---------		---------
Total assets less current liabilities			514,644		597,371

Provisions

Taxation including deferred tax	( 1,311)	( 1,905)
	---------	---------
Net assets	513,333	595,466
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	513,233	595,366
	---------	---------
Shareholders funds	513,333	595,466
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Director's responsibilities:

- The 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 Act with respect to accounting records and the preparation of financial statements .

Independence Limited

Statement of financial position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 27 March 2026 , and are signed on behalf of the board by:

N G Holdsworth
Director

Company registration number: 03784086

Independence Limited

Notes to the financial statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Witchford House, 95 Main Street, Ely, Cambridgeshire, CB6 2HQ. The trading address of the company is 5e Lancaster Way Business Park, Ely, Cambridgeshire, CB6 3NW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property improvements	-	20% straight line
Motor vehicles	-	20% reducing balance
Equipment	-	25% reducing balance
Website-development	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Where stock is identified as no longer saleable through normal trade, the carrying value is written down to it's scrappable or intrinsic value. Intrinsic value is the realisable amount that the company expects to receive through alternate means of disposal. Both scrappable and intrinsic value are net of disposal costs.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at transaction price where the arrangement has no stated interest rate or repayment terms, otherwise it is measured at amortised cost. Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of employees during the year was 19 (2024: 17 ).

5. Tangible assets

	Leasehold property improve-ments	Motor vehicles	Equipment	Website development	Total
	£	£	£	£	£
Cost
At 1 January 2025 and 31 December 2025	4,053	39,389	38,252	19,860	101,554
	------	-------	-------	-------	---------
Depreciation
At 1 January 2025	4,053	18,382	32,866	16,916	72,217
Charge for the year	–	4,201	1,347	736	6,284
	------	-------	-------	-------	---------
At 31 December 2025	4,053	22,583	34,213	17,652	78,501
	------	-------	-------	-------	---------
Carrying amount
At 31 December 2025	–	16,806	4,039	2,208	23,053
	------	-------	-------	-------	---------
At 31 December 2024	–	21,007	5,386	2,944	29,337
	------	-------	-------	-------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	77,364	94,580
Amounts owed by group undertakings	295,319	–
Other debtors	66,686	26,899
	---------	---------
	439,369	121,479
	---------	---------

7. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Trade creditors	174,127	112,593
Amounts owed to group undertakings	–	80,000
Social security and other taxes	81,375	86,611
Other creditors	107,703	22,901
	---------	---------
	363,205	302,105
	---------	---------

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	24,125	23,640
Later than 1 year and not later than 5 years	59,932	5,910
	-------	-------
	84,057	29,550
	-------	-------

9. Related party transactions

At the reporting date, the Company had an outstanding loan balance of £295,319 (2024: £80,000 liability) due from Judick Limited, the ultimate controlling party. The loan is interest-free, unsecured, and repayable on demand.