IBS Building Products Ltd - Filleted accounts

Registered number

03065635

IBS Building Products Ltd

Filleted Accounts

31 October 2025

IBS Building Products Ltd
Registered number:		03065635
Balance Sheet
as at 31 October 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		44,577			76,076

Current assets
Stocks		328,277			267,678
Debtors	4	1,483,231			1,041,530
Cash at bank and in hand		589,173			619,328
		2,400,681			1,928,536

Creditors: amounts falling due within one year	5	(1,821,497)			(1,554,098)

Net current assets			579,184			374,438

Total assets less current liabilities			623,761			450,514

Creditors: amounts falling due after more than one year	6		-			(24,000)

Provisions for liabilities			(11,075)			(18,935)


Net assets			612,686			407,579

Capital and reserves
Called up share capital			4			4
Profit and loss account			612,682			407,575

Shareholders' funds			612,686			407,579

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




M A Finney
Director
Approved by the board on 16 July 2026

IBS Building Products Ltd
Notes to the Accounts
for the year ended 31 October 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			over 4 or 5 years dependent on the asset
	Motor vehicles			over 4 years
	Fixtures and fittings			over 5 years


	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

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


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					11		10


3	Tangible fixed assets
				Plant and machinery etc		Motor vehicles		Total
£					£		£
	Cost
	At 1 November 2024			99,599		71,735		171,334
	At 31 October 2025			99,599		71,735		171,334

	Depreciation
	At 1 November 2024			66,959		28,299		95,258
	Charge for the year			13,565		17,934		31,499
	At 31 October 2025			80,524		46,233		126,757

	Net book value
	At 31 October 2025			19,075		25,502		44,577
	At 31 October 2024			32,640		43,436		76,076


4	Debtors					2025		2024
£							£

	Trade debtors					1,274,979		869,523
	Other debtors					208,252		172,007
						1,483,231		1,041,530


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					1,357,786		953,232
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					-		110,000
	Taxation and social security costs					156,406		107,262
	Other creditors					307,305		383,604
						1,821,497		1,554,098


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Other creditors					-		24,000


7	Pension commitments

	The company operates defined contribution pension schemes on behalf of employees. The assets of the schemes are held separately from those of the company in independently administered funds. At the balance sheet date unpaid contributions of £ 3,282. (2024 £ 3415) were due to the funds. They are included in other creditors.


8	Other financial commitments					2025		2024
£							£

	Total future minimum payments under non-cancellable operating leases					31,533		123,463


9	Related party transactions

	The following companies are related parties by virtue of being controlled by the directors MA Finney, DT Finney, TP McGuire and JW Vann who controlled the issued share capital of each company by virtue of their own and their direct family members' shareholdings.

Sales			Purchases		Debtor		Creditor
	Year 31 October 2025	£	£		£		£
	FSC Doors Ltd	-		217,844		-		59,824
	Midland Building Products Ltd	-		116,715		-		24,328
	Manchester Doors & Cubicles Ltd	-				-
	ZMR Ltd	-		6,171		-
	UK Doorsets Ltd	-		348,933		-		113,955
	Southern Door & Cubicles Ltd	-		4,905		-
	Joinery Specialists Ltd	5,058		144,184		1,545		29,965
	Fire & Acoustic Seals Ltd	-		5,384		-
	Door-Kit Solutions Ltd	37,246		1,048,659		-		369,319
	Rapidfit	2,549		1,142,105		861		304,959
	MBP Iironmongery			57,022		-		7,979
	Leeds Door & Cubicles			36,088		-

	Year 31 October 2024	£	£		£		£
	FSC Doors Ltd	-		164,104		-		18,840
	Midland Building Products Ltd	-		47,782		-		11,110
	Manchester Doors & Cubicles Ltd	-		4,921		-		-
	ZMR Ltd	-		3,497		-		1,454
	UK Doorsets Ltd	-		203,113		-		25,318
	Southern Door & Cubicles Ltd	-		19,620		-		312
	Joinery Specialists Ltd	4,808		123,522		686		33,005
	Fire & Acoustic Seals Ltd	-		2,613		-		136
	Door-Kit Solutions Ltd	20,222		331,911		-		92,896
	Rapidfit	28,587		939,708		11,151		129,152
	MBP Iironmongery	-		6,436		-		1,149

10	Controlling party

	The company was under the control of FSC Doors Limited by virtue of its 90% shareholding throughout the period. FSC Doors Ltd was under the control of Messrs M Finney, D Finney JW Vann and TP Mcguire who own the entire issued share capital of that company in the current and the previous financial periods.


11	Other information

	IBS Building Products Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	6/11 Spartan Industrial Centre
	West Bromwich
	England
	B70 0DH