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COMPANY REGISTRATION NUMBER: 14339682
Iperformance Holdings Limited
Filleted Unaudited Financial Statements
29 February 2024
Iperformance Holdings Limited
Statement of Financial Position
29 February 2024
29 Feb 24
Note
£
£
Fixed assets
Investments
4
480,000
Current assets
Debtors
5
1
Creditors: amounts falling due within one year
6
8,537
------
Net current liabilities
8,536
---------
Total assets less current liabilities
471,464
Creditors: amounts falling due after more than one year
7
191,000
---------
Net assets
280,464
---------
Capital and reserves
Called up share capital
1
Other reserves
240,000
Profit and loss account
40,463
---------
Shareholders funds
280,464
---------
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 comprehensive income has not been delivered.
For the period ending 29 February 2024 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 period 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 .
Iperformance Holdings Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 4 June 2024 , and are signed on behalf of the board by:
Mr M Saunders
Director
Company registration number: 14339682
Iperformance Holdings Limited
Notes to the Financial Statements
Period from 6 September 2022 to 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lower Mill House, Back Lane, Staveley, Kendal, LA8 9LR, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
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 entity 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.
4. Investments
Shares in group undertakings
£
Cost
At 6 September 2022
Additions
480,000
---------
At 29 February 2024
480,000
---------
Impairment
At 6 September 2022 and 29 February 2024
---------
Carrying amount
At 29 February 2024
480,000
---------
The company owned 100% of the issued share capital of VA Consultants Global Limited, incorporated in the UK.
5. Debtors
29 Feb 24
£
Other debtors
1
----
6. Creditors: amounts falling due within one year
29 Feb 24
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
7,937
Other creditors
600
------
8,537
------
7. Creditors: amounts falling due after more than one year
29 Feb 24
£
Other creditors
191,000
---------
8. Directors' advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
29 Feb 24
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr M Saunders
1
1
----
----
----
9. Related party transactions
At 29 February 2024 the company owed £7,937 to VA Consultants Global Limited, a wholly owned subsidiary.