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REGISTERED NUMBER: 10210402 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Independent Global Reporter Network Ltd

Independent Global Reporter Network Ltd (Registered number: 10210402)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Independent Global Reporter Network Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: D H Barclay





SECRETARY: Ms H Wilson





REGISTERED OFFICE: 59A Kingston Road
London
SW19 1JN





REGISTERED NUMBER: 10210402 (England and Wales)






Independent Global Reporter Network Ltd (Registered number: 10210402)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,506 4,382

CURRENT ASSETS
Debtors 5 110,041 74,213
Cash at bank 1 1
110,042 74,214
CREDITORS
Amounts falling due within one year 6 283,084 256,059
NET CURRENT LIABILITIES (173,042 ) (181,845 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(169,536

)

(177,463

)

CREDITORS
Amounts falling due after more than
one year

7

3,703,214

3,324,671
NET LIABILITIES (3,872,750 ) (3,502,134 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (3,872,850 ) (3,502,234 )
(3,872,750 ) (3,502,134 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Independent Global Reporter Network Ltd (Registered number: 10210402)

Balance Sheet - continued
31 March 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 director and authorised for issue on 8 September 2023 and were signed by:





D H Barclay - Director


Independent Global Reporter Network Ltd (Registered number: 10210402)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Independent Global Reporter Network 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Going concern
The financial statements have been prepared on a going concern basis. The company has obtained assurances and undertakings from its shareholders that they will continue to support the company for the foreseeable future and meet all third party liabilities as they fall due. Given these undertakings, the directors consider it appropriate to adopt a going concern basis in preparing the financial statements.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discount, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of the tangible fixed assets over their expected useful lives as follows:
Fixtures and fittings - 20% per annum on WDV

Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for the current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.


Independent Global Reporter Network Ltd (Registered number: 10210402)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax.
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 8 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 24,584
DEPRECIATION
At 1 April 2022 20,202
Charge for year 876
At 31 March 2023 21,078
NET BOOK VALUE
At 31 March 2023 3,506
At 31 March 2022 4,382

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 200 1,040
Other debtors 109,841 73,173
110,041 74,213

Independent Global Reporter Network Ltd (Registered number: 10210402)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 25,208 26,044
Trade creditors 151,775 64,437
Taxation and social security 106,101 144,651
Other creditors - 20,927
283,084 256,059

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 3,703,214 3,324,671

8. RELATED PARTY DISCLOSURES

At the end of the year, the Company had an outstanding loan balance of £3,703,214 (2022- £3,324,671 ) due to the company's controlling party.

9. ULTIMATE CONTROLLING PARTY

The controlling party is D H Barclay, company director.