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REGISTERED NUMBER: 12107815 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

IG SURVEYS LTD

IG SURVEYS LTD (REGISTERED NUMBER: 12107815)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IG SURVEYS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: L J George





REGISTERED OFFICE: 4 Abney Crescent
Measham
Swadincote
Derbyshire
DE12 7HH





REGISTERED NUMBER: 12107815 (England and Wales)





ACCOUNTANTS: PWH Accountancy Ltd
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY

IG SURVEYS LTD (REGISTERED NUMBER: 12107815)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 61,212 55,851

CURRENT ASSETS
Debtors 5 57,033 71,448
Cash at bank 7,340 3
64,373 71,451
CREDITORS
Amounts falling due within one year 6 58,196 64,150
NET CURRENT ASSETS 6,177 7,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,389

63,152

CREDITORS
Amounts falling due after more than one
year

7

(56,980

)

(51,566

)

PROVISIONS FOR LIABILITIES 8 (10,345 ) (10,612 )
NET ASSETS 64 974

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 62 972
SHAREHOLDERS' FUNDS 64 974

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

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

IG SURVEYS LTD (REGISTERED NUMBER: 12107815)

BALANCE SHEET - continued
31 JULY 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 March 2024 and were signed by:





L J George - Director


IG SURVEYS LTD (REGISTERED NUMBER: 12107815)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

IG Surveys 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.

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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover
Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade 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. The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

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 - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Financial assets
Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities
The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.


IG SURVEYS LTD (REGISTERED NUMBER: 12107815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 - 4 ) .

IG SURVEYS LTD (REGISTERED NUMBER: 12107815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 82,599 1,528 6,605 90,732
Additions 20,550 32 5,028 25,610
At 31 July 2023 103,149 1,560 11,633 116,342
DEPRECIATION
At 1 August 2022 31,498 389 2,994 34,881
Charge for year 17,913 176 2,160 20,249
At 31 July 2023 49,411 565 5,154 55,130
NET BOOK VALUE
At 31 July 2023 53,738 995 6,479 61,212
At 31 July 2022 51,101 1,139 3,611 55,851

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 August 2022 39,000
Additions 20,550
At 31 July 2023 59,550
DEPRECIATION
At 1 August 2022 10,359
Charge for year 12,298
At 31 July 2023 22,657
NET BOOK VALUE
At 31 July 2023 36,893
At 31 July 2022 28,641

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,156 15,240
Directors' current accounts 29,269 54,716
Prepayments 1,608 1,492
57,033 71,448

IG SURVEYS LTD (REGISTERED NUMBER: 12107815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,392 10,390
Hire purchase contracts 11,061 7,020
Trade creditors 3,575 2,964
Tax 21,042 31,474
Social security and other taxes 896 4,146
Pension control 83 -
VAT 9,649 8,156
Wages control 5,931 -
Accrued expenses 1,567 -
58,196 64,150

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 4,503 10,025
Bank loans - 2-5 years 14,206 19,896
Bank loans more 5 yr by instal 10,033 -
Hire purchase contracts 28,238 21,645
56,980 51,566

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,033 -

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 10,345 10,612

Deferred
tax
£   
Balance at 1 August 2022 10,612
Credit to Income Statement during year (267 )
Balance at 31 July 2023 10,345

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

IG SURVEYS LTD (REGISTERED NUMBER: 12107815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

10. RESERVES
Retained
earnings
£   

At 1 August 2022 972
Profit for the year 3,590
Dividends (4,500 )
At 31 July 2023 62

11. RELATED PARTY DISCLOSURES

As at the year ended 31 July 2023, there was a balance owed to the company from the director of £29,270 (2022 £54,716). This amount is included within debtors on the balance sheet.