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Company Registration No. 11394982 (England and Wales)
IW MEDIA FORCE LIMITED Unaudited accounts for the year ended 31 March 2023
IW MEDIA FORCE LIMITED Unaudited accounts Contents
Page
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IW MEDIA FORCE LIMITED Company Information for the year ended 31 March 2023
Director
Wayne Rose
Company Number
11394982 (England and Wales)
Registered Office
1A LAKE INDUSTRIAL WAY,SANDOWN LAKE INDUSTRIAL WAY SANDOWN PO36 9PL ENGLAND
Accountants
Eleve11 Consulting Ltd T/A Cloud Eleven Accountants Palamos House 66-67 High St Lymington Hampshire SO41 9AL
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IW MEDIA FORCE LIMITED Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,336 
14,975 
Current assets
Inventories
2,287 
17,991 
Debtors
4,281 
8,200 
Cash at bank and in hand
42,357 
42,878 
48,925 
69,069 
Creditors: amounts falling due within one year
(38,419)
(55,496)
Net current assets
10,506 
13,573 
Total assets less current liabilities
20,842 
28,548 
Creditors: amounts falling due after more than one year
(13,056)
(15,764)
Net assets
7,786 
12,784 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
7,686 
12,684 
Shareholders' funds
7,786 
12,784 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 September 2023 and were signed on its behalf by
Wayne Rose Director Company Registration No. 11394982
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IW MEDIA FORCE LIMITED Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
IW MEDIA FORCE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11394982. The registered office is 1A LAKE INDUSTRIAL WAY,SANDOWN, LAKE INDUSTRIAL WAY, SANDOWN, PO36 9PL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
20% straight line
Fixtures & fittings
33.3% straight line
Computer equipment
50% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Government grants
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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IW MEDIA FORCE LIMITED Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2022
888 
18,250 
1,277 
2,376 
22,791 
Additions
- 
- 
- 
1,232 
1,232 
At 31 March 2023
888 
18,250 
1,277 
3,608 
24,023 
Depreciation
At 1 April 2022
400 
5,779 
540 
1,097 
7,816 
Charge for the year
178 
3,650 
425 
1,618 
5,871 
At 31 March 2023
578 
9,429 
965 
2,715 
13,687 
Net book value
At 31 March 2023
310 
8,821 
312 
893 
10,336 
At 31 March 2022
488 
12,471 
737 
1,279 
14,975 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
898 
2,925 
Accrued income and prepayments
383 
2,275 
Other debtors
3,000 
3,000 
4,281 
8,200 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
1,666 
1,667 
VAT
2,872 
4,117 
Obligations under finance leases and hire purchase contracts
1,458 
2,917 
Trade creditors
2,461 
1,864 
Taxes and social security
297 
163 
Other creditors
1,459 
4,820 
Loans from directors
28,206 
37,561 
Deferred income
- 
2,387 
38,419 
55,496 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
10,555 
12,222 
Obligations under finance leases and hire purchase contracts
2,501 
3,542 
13,056 
15,764 
8
Transactions with related parties
The director loan included within other creditors is unsecured, interest free and repayable on demand.
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IW MEDIA FORCE LIMITED Notes to the Accounts for the year ended 31 March 2023
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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