2023-04-012024-03-312024-03-31false11394982IW MEDIA FORCE 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IW MEDIA FORCE LIMITED

Registered Number
11394982
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

IW MEDIA FORCE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Rose, W

Registered Address

Hitherwood The Street
Rotherwick
Hook
RG27 9BL

Registered Number

11394982 (England and Wales)
IW MEDIA FORCE LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,30410,336
5,30410,336
Current assets
Stocks8102,287
Debtors41,1914,281
Cash at bank and on hand22,66942,357
24,67048,925
Creditors amounts falling due within one year5(25,845)(38,419)
Net current assets (liabilities)(1,175)10,506
Total assets less current liabilities4,12920,842
Creditors amounts falling due after one year6(8,889)(13,056)
Net assets(4,760)7,786
Capital and reserves
Called up share capital100100
Profit and loss account(4,860)7,686
Shareholders' funds(4,760)7,786
The financial statements were approved and authorised for issue by the Director on 5 September 2024, and are signed on its behalf by:
Rose, W
Director
Registered Company No. 11394982
IW MEDIA FORCE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings3
Vehicles5
Office Equipment2
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20242023
Average number of employees during the year12
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2324,023
Disposals(1,277)
At 31 March 2422,746
Depreciation and impairment
At 01 April 2313,687
Charge for year5,002
On disposals(1,247)
At 31 March 2417,442
Net book value
At 31 March 245,304
At 31 March 2310,336
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables552898
Other debtors-3,000
Prepayments and accrued income639383
Total1,1914,281
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8132,461
Bank borrowings and overdrafts2,3843,125
Taxation and social security1,3593,169
Finance lease and HP contracts1,4581,458
Other creditors18,69128,206
Accrued liabilities and deferred income1,140-
Total25,84538,419
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts8,88910,556
Other creditors-2,500
Total8,88913,056
Loans £8,889 prior year £10,555 Leases £0 prior year £2,501
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts-2,500
8.Related party transactions
The director loan included within other creditors is unsecured, interest free and repayable on demand.
9.Further information regarding the company's financial position
The company is relying on the directors financial support.