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Registered number: 09022650
Iron Bridge Finance Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Kalculus
Chartered Accountants & Business Advisers
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09022650
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 504
Investments 5 2 2
2 506
CURRENT ASSETS
Debtors 6 6,565,708 6,957,249
Cash at bank and in hand 1,835,115 507,508
8,400,823 7,464,757
Creditors: Amounts Falling Due Within One Year 7 (4,637,927 ) (4,367,235 )
NET CURRENT ASSETS (LIABILITIES) 3,762,896 3,097,522
TOTAL ASSETS LESS CURRENT LIABILITIES 3,762,898 3,098,028
NET ASSETS 3,762,898 3,098,028
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account 3,761,898 3,097,028
SHAREHOLDERS' FUNDS 3,762,898 3,098,028
Page 1
Page 2
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Lance Joseph
Director
19 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Iron Bridge Finance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09022650 . The registered office is 2nd Floor Gadd House, Arcadia Avenue, London, N3 2JU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings - 25% on reducing balance.
Computer Equipment - 25% straight line.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 2,680 18,273 20,953
As at 30 November 2023 2,680 18,273 20,953
Depreciation
As at 1 December 2022 2,176 18,273 20,449
Provided during the period 504 - 504
As at 30 November 2023 2,680 18,273 20,953
Net Book Value
As at 30 November 2023 - - -
As at 1 December 2022 504 - 504
Page 3
Page 4
5. Investments
Subsidiaries
£
Cost
As at 1 December 2022 2
As at 30 November 2023 2
Provision
As at 1 December 2022 -
As at 30 November 2023 -
Net Book Value
As at 30 November 2023 2
As at 1 December 2022 2
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 13,060 8,816
Other debtors 6,552,648 6,948,433
6,565,708 6,957,249
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 211,209 186,584
Other taxes and social security 53,978 15,810
Net wages 46,216 73,376
Other creditors 4,263,720 4,047,112
Accruals and deferred income 62,804 44,353
4,637,927 4,367,235
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 4