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REGISTERED NUMBER: 02739550 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

IHC LIMITED

IHC LIMITED (REGISTERED NUMBER: 02739550)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IHC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: N J Lipczynski
M D Satchell





REGISTERED OFFICE: 1-2 Bolt Court
London
EC4A 3DQ





REGISTERED NUMBER: 02739550 (England and Wales)





ACCOUNTANTS: Goddard & Co
Chartered Accountants
3 Church Street
Odiham, Hook
Hampshire
RG29 1LU

IHC LIMITED (REGISTERED NUMBER: 02739550)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 119,330 163,912

CURRENT ASSETS
Debtors 5 852,176 678,957
Cash at bank 1,104,577 563,575
1,956,753 1,242,532
CREDITORS
Amounts falling due within one year 6 1,529,936 1,077,553
NET CURRENT ASSETS 426,817 164,979
TOTAL ASSETS LESS CURRENT
LIABILITIES

546,147

328,891

CREDITORS
Amounts falling due after more than one
year

7

96,828

105,833
NET ASSETS 449,319 223,058

CAPITAL AND RESERVES
Called up share capital 40,850 40,850
Retained earnings 408,469 182,208
SHAREHOLDERS' FUNDS 449,319 223,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

IHC LIMITED (REGISTERED NUMBER: 02739550)

BALANCE SHEET - continued
30 JUNE 2023


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 4 October 2023 and were signed on its behalf by:





N J Lipczynski - Director


IHC LIMITED (REGISTERED NUMBER: 02739550)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

IHC Limited 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
Turnover represents commissions receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 20% on reducing balance

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 536,702
Additions 29,102
Disposals (86,500 )
At 30 June 2023 479,304
DEPRECIATION
At 1 July 2022 372,790
Charge for year 37,192
Eliminated on disposal (50,008 )
At 30 June 2023 359,974
NET BOOK VALUE
At 30 June 2023 119,330
At 30 June 2022 163,912

IHC LIMITED (REGISTERED NUMBER: 02739550)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS - continued


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 185,604 63,156
Other debtors 666,572 615,801
852,176 678,957

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,732 10,000
Hire purchase contracts - 22,917
Trade creditors 587,339 532,323
Taxation and social security 548,325 409,245
Other creditors 384,540 103,068
1,529,936 1,077,553

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 21,828 30,833
Other creditors 75,000 75,000
96,828 105,833

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Subordinated loan 75,000 75,000

The subordinated loan has been made by Mr N Lipczynski to satisfy the capital adequacy requirements of the Financial Services Authority. It carries interest at 3% above the Royal Bank of Scotland base rate.

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 22,917

The bank overdraft is secured by the personal guarantee of Mr N J Lipczynski in the amount of £200,000.

9. OTHER FINANCIAL COMMITMENTS

The company had financial commitments at the balance sheet date of £516,744 (2022 £641,544).