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Company registration number: 06750565
Irongate Capital Limited
Unaudited filleted financial statements
30 November 2023
Irongate Capital Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Irongate Capital Limited
Directors and other information
Director Mr Mark Lauber
Company number 06750565
Registered office 18 Shakespeare Gardens,
East Finchley
London
N2 9LJ
Business address 18 Shakespeare Gardens
East Finchley
London
N2 9LJ
Accountants VSP Limited
2 Deansway
London
N2 0JF
Bankers HSBC plc
Irongate Capital Limited
Statement of financial position
30 November 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 - 107
Investments 6 - 34,023
_______ _______
- 34,130
Current assets
Cash at bank and in hand 15,038 32,876
_______ _______
15,038 32,876
Creditors: amounts falling due
within one year 7 ( 2,891) ( 20,118)
_______ _______
Net current assets 12,147 12,758
_______ _______
Total assets less current liabilities 12,147 46,888
_______ _______
Net assets 12,147 46,888
_______ _______
Capital and reserves
Called up share capital 8 2 2
Profit and loss account 12,145 46,886
_______ _______
Shareholder funds 12,147 46,888
_______ _______
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 February 2024 , and are signed on behalf of the board by:
Mr Mark Lauber
Director
Company registration number: 06750565
Irongate Capital Limited
Statement of changes in equity
Year ended 30 November 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 December 2021 2 88,741 88,743
Profit/(loss) for the year ( 41,855) ( 41,855)
_______ _______ _______
Total comprehensive income for the year - ( 41,855) ( 41,855)
_______ _______ _______
At 30 November 2022 and 1 December 2022 2 46,886 46,888
Profit/(loss) for the year 15,259 15,259
_______ _______ _______
Total comprehensive income for the year - 15,259 15,259
Dividends paid and payable ( 50,000) ( 50,000)
_______ _______ _______
Total investments by and distributions to owners - ( 50,000) ( 50,000)
_______ _______ _______
At 30 November 2023 2 12,145 12,147
_______ _______ _______
Irongate Capital Limited
Notes to the financial statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 18 Shakespeare Gardens,, East Finchley, London, N2 9LJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25% % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Other pension costs - 40,000
_______ _______
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 December 2022 and 30 November 2023 1,820 1,820
_______ _______
Depreciation
At 1 December 2022 1,713 1,713
Charge for the year 107 107
_______ _______
At 30 November 2023 1,820 1,820
_______ _______
Carrying amount
At 30 November 2023 - -
_______ _______
At 30 November 2022 107 107
_______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 1 December 2022 34,023 34,023
Disposals ( 34,023) ( 34,023)
_______ _______
At 30 November 2023 - -
_______ _______
Impairment
At 1 December 2022 and 30 November 2023 - -
_______ _______
Carrying amount
At 30 November 2023 - -
_______ _______
At 30 November 2022 34,023 34,023
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Other creditors 2,891 20,118
_______ _______
8. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______