Independence Development Limited

Registered number

07500078

Filleted Accounts

31 January 2026

Independence Development Limited
Registered number:		07500078
Balance Sheet
as at 31 January 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		268,397			292,542

Current assets
Stocks		10,916			10,887
Debtors	4	472,278			450,942
Cash at bank and in hand		97,340			2,084
		580,534			463,913

Creditors: amounts falling due within one year	5	(356,538)			(195,661)

Net current assets			223,996			268,252

Total assets less current liabilities			492,393			560,794

Creditors: amounts falling due after more than one year	6		-			(155,556)

Provisions for liabilities			(37,665)			(40,027)


Net assets			454,728			365,211

Capital and reserves
Called up share capital			1			1
Profit and loss account			454,727			365,210

Shareholder's funds			454,728			365,211

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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. Olyedemi
Director
Approved by the board on 23 July 2026

Independence Development Limited
Notes to the Accounts
for the year ended 31 January 2026


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:

	Leasehold land and buildings			over the lease term
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	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.

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


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					41		32


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 February 2025	195,929		200,667		48,137		444,733
	Additions	-		21,248		-		21,248
	At 31 January 2026	195,929		221,915		48,137		465,981

	Depreciation
	At 1 February 2025	63,495		74,823		13,873		152,191
	Charge for the year	14,695		25,884		4,814		45,393
	At 31 January 2026	78,190		100,707		18,687		197,584

	Net book value
	At 31 January 2026	117,739		121,208		29,450		268,397
	At 31 January 2025	132,434		125,844		34,264		292,542


4	Debtors					2026		2025
£							£

	Trade debtors					251,328		107,111
	Other debtors					220,950		343,831
						472,278		450,942


5	Creditors: amounts falling due within one year					2026		2025
£							£

	Bank loans and overdrafts					-		11,111
	Trade creditors					24,088		37,853
	Corporation tax					49,600		39,447
	Other taxes and social security costs					190,829		76,379
	Other creditors					92,021		30,871
						356,538		195,661


6	Creditors: amounts falling due after one year					2026		2025
£							£

	Bank loans					-		155,556

	The bank loan is secured on the company's properties and carries interest at 3.79% P.A.

7	Other information

	Independence Development Limited is a private company limited by shares and incorporated in England. Its registered office is:
	4 Blenheim Avenue
	Gants Hill
	Essex
	IG2 6JG