COMPANY REGISTRATION NUMBER:
12182871
|
Independent Living Centre Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Independent Living Centre Limited |
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|
Statement of Financial Position |
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31 August 2025
Current assets
|
Debtors |
4 |
15,008 |
15,008 |
|
Cash at bank and in hand |
4,276 |
4,276 |
|
-------- |
-------- |
|
19,284 |
19,284 |
|
|
|
|
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Creditors: amounts falling due within one year |
5 |
(
808) |
(
1,390) |
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-------- |
-------- |
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Net current assets |
20,092 |
20,674 |
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-------- |
-------- |
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Total assets less current liabilities |
20,092 |
20,674 |
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|
|
|
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Creditors: amounts falling due after more than one year |
6 |
17,500 |
17,500 |
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-------- |
-------- |
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Net assets |
2,592 |
3,174 |
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-------- |
-------- |
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|
|
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Capital and reserves
|
Called up share capital |
2 |
2 |
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Profit and loss account |
2,590 |
3,172 |
|
------- |
------- |
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Shareholders funds |
2,592 |
3,174 |
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------- |
------- |
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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 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Independent Living Centre Limited |
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Statement of Financial Position (continued) |
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31 August 2025
These financial statements were approved by the
board of directors
and authorised for issue on
27 April 2026
, and are signed on behalf of the board by:
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Mr M Chilton |
Mr S Chilton |
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Director |
Director |
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|
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Miss L S Jackson |
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Director |
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Company registration number:
12182871
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Independent Living Centre Limited |
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Notes to the Financial Statements |
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Year ended 31 August 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 82 Higher Market Street, Bolton, Lancashire, BL4 9BB, United Kingdom.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 September 2023.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
15,000 |
15,000 |
|
Other debtors |
8 |
8 |
|
-------- |
-------- |
|
15,008 |
15,008 |
|
-------- |
-------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
(
1,678) |
(
1,678) |
|
Other creditors |
870 |
288 |
|
------- |
------- |
|
(
808) |
(
1,390) |
|
------- |
------- |
|
|
|
6.
Creditors:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
17,500 |
17,500 |
|
-------- |
-------- |
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7.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or or received. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
8.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
Balance brought forward and outstanding |
|
2025 |
2024 |
|
£ |
£ |
|
Mr M Chilton |
1 |
1 |
|
Mr S Chilton |
1 |
1 |
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---- |
---- |
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2 |
2 |
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---- |
---- |
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