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Registration number: 14181637

IPW Technologies Ltd

Unaudited Filleted Financial Statements

for the Period from 20 June 2022 to 31 October 2023

 

IPW Technologies Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

IPW Technologies Ltd

Company Information

Directors

C G Carter

R E Carter

Registered office

6 Decimus Park
Kingstanding Way
Tunbridge Wells
Kent
TN2 3GP

 

IPW Technologies Ltd

(Registration number: 14181637)
Balance Sheet as at 31 October 2023

Note

2023
£

Fixed assets

 

Investments

4

1,329,678

Current assets

 

Debtors

5

2

Cash at bank and in hand

 

310

 

312

Creditors: Amounts falling due within one year

6

(614,660)

Net current liabilities

 

(614,348)

Total assets less current liabilities

 

715,330

Creditors: Amounts falling due after more than one year

6

(710,525)

Net assets

 

4,805

Capital and reserves

 

Called up share capital

7

2

Retained earnings

4,803

Shareholders' funds

 

4,805

For the financial period ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

IPW Technologies Ltd

(Registration number: 14181637)
Balance Sheet as at 31 October 2023

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 March 2024 and signed on its behalf by:
 

.........................................
C G Carter
Director

.........................................
R E Carter
Director

 
     
 

IPW Technologies Ltd

Notes to the Unaudited Financial Statements for the Period from 20 June 2022 to 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
6 Decimus Park
Kingstanding Way
Tunbridge Wells
Kent
TN2 3GP

These financial statements were authorised for issue by the Board on 11 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

IPW Technologies Ltd

Notes to the Unaudited Financial Statements for the Period from 20 June 2022 to 31 October 2023

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

IPW Technologies Ltd

Notes to the Unaudited Financial Statements for the Period from 20 June 2022 to 31 October 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Investments

2023
£

Investments in subsidiaries

1,329,678

Subsidiaries

£

Cost or valuation

Additions

1,329,678

Provision

Carrying amount

At 31 October 2023

1,329,678

5

Debtors

Current

2023
£

Other debtors

2

 

IPW Technologies Ltd

Notes to the Unaudited Financial Statements for the Period from 20 June 2022 to 31 October 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

8

593,892

Amounts owed to group undertakings and undertakings in which the company has a participating interest

20,048

Accruals and deferred income

 

720

 

614,660

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

8

710,525

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

2

2

     
 

IPW Technologies Ltd

Notes to the Unaudited Financial Statements for the Period from 20 June 2022 to 31 October 2023

8

Loans and borrowings

2023
£

Non-current loans and borrowings

Bank borrowings

710,525

2023
£

Current loans and borrowings

Bank borrowings

73,892

Other borrowings

520,000

593,892