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Company registration number: 04318927
IV Response Limited
Unaudited filleted financial statements
31 December 2023
IV Response Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
IV Response Limited
Directors and other information
Directors P Bonafin
A Martin
Secretary A Martin
Company number 04318927
Registered office 57-61 Mortimer Street
London
W1W 8HS
IV Response Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 11,271 11,271
Tangible assets 6 3,375 4,788
_______ _______
14,646 16,059
Current assets
Debtors 7 962,549 1,061,771
Cash at bank and in hand 9,636 6,552
_______ _______
972,185 1,068,323
Creditors: amounts falling due
within one year 8 ( 42,765) ( 33,504)
_______ _______
Net current assets 929,420 1,034,819
_______ _______
Total assets less current liabilities 944,066 1,050,878
_______ _______
Net assets 944,066 1,050,878
_______ _______
Capital and reserves
Called up share capital 100,000 100,000
Profit and loss account 844,066 950,878
_______ _______
Shareholders funds 944,066 1,050,878
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge 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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 July 2024 , and are signed on behalf of the board by:
A Martin
Director
Company registration number: 04318927
IV Response Limited
Notes to the financial statements
Year ended 31 December 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 57-61 Mortimer Street, London, W1W 8HS.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
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:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 33 % straight line
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.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 January 2023 and 31 December 2023 11,271 11,271
_______ _______
Amortisation
At 1 January 2023 and 31 December 2023 - -
_______ _______
Carrying amount
At 31 December 2023 11,271 11,271
_______ _______
At 31 December 2022 11,271 11,271
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2023 509,234 102,889 612,123
Additions 753 2,500 3,253
_______ _______ _______
At 31 December 2023 509,987 105,389 615,376
_______ _______ _______
Depreciation
At 1 January 2023 509,234 98,101 607,335
Charge for the year 20 4,646 4,666
_______ _______ _______
At 31 December 2023 509,254 102,747 612,001
_______ _______ _______
Carrying amount
At 31 December 2023 733 2,642 3,375
_______ _______ _______
At 31 December 2022 - 4,788 4,788
_______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 5,729 ( 1,702)
Other debtors 956,820 1,063,473
_______ _______
962,549 1,061,771
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 8,885 18,787
Social security and other taxes 1,710 1,546
Other creditors 32,170 13,171
_______ _______
42,765 33,504
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
P Bonafin 5,000 ( 28,844) ( 23,844)
A Martin 5,000 ( 5,000) -
_______ _______ _______
10,000 ( 33,844) ( 23,844)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
P Bonafin - 5,000 5,000
A Martin - 5,000 5,000
_______ _______ _______
- 10,000 10,000
_______ _______ _______