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REGISTERED NUMBER: 12977842 (England and Wales)















THE IFA CORPORATION LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






THE IFA CORPORATION LIMITED (REGISTERED NUMBER: 12977842)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


THE IFA CORPORATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: T N Dibb
P E Dibb
K A Horgan





REGISTERED OFFICE: Egerton House
14 Egerton Terrace
Rawdon
Leeds
West Yorkshire
LS19 6QA





REGISTERED NUMBER: 12977842 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN

THE IFA CORPORATION LIMITED (REGISTERED NUMBER: 12977842)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 8,553 1,528
Cash at bank 121,858 98,795
130,411 100,323
CREDITORS
Amounts falling due within one year 5 (102,520 ) (80,872 )
NET CURRENT ASSETS 27,891 19,451
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,891

19,451

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 26,891 18,451
27,891 19,451

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

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

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 25 March 2024 and were signed on its behalf by:





P E Dibb - Director


THE IFA CORPORATION LIMITED (REGISTERED NUMBER: 12977842)

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


1. STATUTORY INFORMATION

The IFA Corporation Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 12977842 and its registered office address is Egerton House, 14 Egerton Terrace, Rawdon, Leeds, West Yorkshire, LS19 6QA.

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.

Going concern
The directors are satisfied that the company is a going concern and that the financial statements are correctly prepared on this basis.

Significant judgements and estimates
There are no significant judgements or estimates which the directors consider critical.

Revenue
Revenue comprises the fair value of the consideration received or receivable for services provided in the course of the company's activities, net of value added tax.

Service revenues are recognised as those services are provided to customers.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for the objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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 statement of financial position date.


THE IFA CORPORATION LIMITED (REGISTERED NUMBER: 12977842)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 6 (2022 - 4 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,553 528
Other debtors 1,000 1,000
8,553 1,528

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 81,254 78,872
Other creditors 21,266 2,000
102,520 80,872