Ireland House Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12549375 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2022

for

Ireland House Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Stocks

-

913,490

Debtors

4

-

17,050

Cash at bank and in hand

99,770

4,608

99,770

935,148

CREDITORS

Amounts falling due within one year

5

99,570

1,016,481

NET CURRENT ASSETS/(LIABILITIES)

200

(81,333

)

TOTAL ASSETS LESS CURRENT LIABILITIES

200

(81,333

)

CAPITAL AND RESERVES

Called up share capital

200

-

Retained earnings

-

(81,333

)

SHAREHOLDERS' FUNDS

200

(81,333

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2022 and were signed on its behalf by:

R Ash - Director

1.	STATUTORY INFORMATION

Ireland House Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

12549375

Registered office:

Lower Bramble Farm

Chudleigh

Newton Abbot

TQ13 0DU

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Stock represents land held for development purposes and includes initial purchase price and all associated costs relating to the purchase.

Work in progress represents the development costs including direct materials and direct labour costs and those overheads which have been incurred in bringing the developments to their present condition.

Provision is made where the net realisable value is expected to be less than cost.

Taxation

Taxation for the year 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 amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Amounts owed by associates

-

1,150

Other debtors

-

15,900

-

17,050

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Trade creditors

25

1,716

Amounts owed to group undertakings

29,999

35,870

Taxation and social security

66,546

-

Other creditors

3,000

978,895

99,570

1,016,481