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REGISTERED NUMBER: 07472095 (England and Wales)















Financial Statements for the Year Ended 31 December 2021

for

iWizards Ltd

iWizards Ltd (Registered number: 07472095)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


iWizards Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTOR: W Ahmed





SECRETARY: Mrs A Bhutta





REGISTERED OFFICE: 5-7 New Road
Radcliffe
Manchester
M26 1LS





REGISTERED NUMBER: 07472095 (England and Wales)





ACCOUNTANTS: Rowlinson Rainbow & Company
5/7 New Road
Radcliffe
Greater Manchester
M26 1LS

iWizards Ltd (Registered number: 07472095)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,080 3,850

CURRENT ASSETS
Inventories 5,110 4,750
Debtors 5 3,258 2,057
Cash at bank 36,841 79,030
45,209 85,837
CREDITORS
Amounts falling due within one year 6 20,105 19,214
NET CURRENT ASSETS 25,104 66,623
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,184

70,473

CREDITORS
Amounts falling due after more than one
year

7

-

50,000
NET ASSETS 28,184 20,473

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 28,182 20,471
28,184 20,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

iWizards Ltd (Registered number: 07472095)

Balance Sheet - continued
31 December 2021


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 director and authorised for issue on 7 September 2022 and were signed by:





W Ahmed - Director


iWizards Ltd (Registered number: 07472095)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

iWizards Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

iWizards Ltd (Registered number: 07472095)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 14,083
DEPRECIATION
At 1 January 2021 10,233
Charge for year 770
At 31 December 2021 11,003
NET BOOK VALUE
At 31 December 2021 3,080
At 31 December 2020 3,850

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Other debtors 3,258 2,057

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 9,786 11,370
Taxation and social security 9,844 7,387
Other creditors 475 457
20,105 19,214

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Other creditors - 50,000