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REGISTERED NUMBER: 04257065 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

IFINA (UK) LIMITED

IFINA (UK) LIMITED (REGISTERED NUMBER: 04257065)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IFINA (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: S Bratchie





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





REGISTERED NUMBER: 04257065 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

IFINA (UK) LIMITED (REGISTERED NUMBER: 04257065)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,170 11,556

CURRENT ASSETS
Debtors 5 160,991 102,254
Cash at bank 3,692 4,132
164,683 106,386
CREDITORS
Amounts falling due within one year 6 42,690 53,465
NET CURRENT ASSETS 121,993 52,921
TOTAL ASSETS LESS CURRENT
LIABILITIES

136,163

64,477

PROVISIONS FOR LIABILITIES 8 3,338 2,005
NET ASSETS 132,825 62,472

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 132,824 62,471
SHAREHOLDERS' FUNDS 132,825 62,472

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 7 September 2024 and were signed by:





S Bratchie - Director


IFINA (UK) LIMITED (REGISTERED NUMBER: 04257065)

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


1. STATUTORY INFORMATION

Ifina (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Over 5 years
Furniture,fittings & equipment - 25% on reducing balance
Computer equipment - Straight line over 3 years

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2022 - 8 ) .

IFINA (UK) LIMITED (REGISTERED NUMBER: 04257065)

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


4. TANGIBLE FIXED ASSETS
Improvements
to Furniture,fittings Motor Computer
property & equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 41,425 19,556 32,448 23,092 116,521
Additions - - - 8,390 8,390
At 31 December 2023 41,425 19,556 32,448 31,482 124,911
DEPRECIATION
At 1 January 2023 41,425 18,499 22,181 22,860 104,965
Charge for year - 264 2,567 2,945 5,776
At 31 December 2023 41,425 18,763 24,748 25,805 110,741
NET BOOK VALUE
At 31 December 2023 - 793 7,700 5,677 14,170
At 31 December 2022 - 1,057 10,267 232 11,556

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 32,448
DEPRECIATION
At 1 January 2023 22,181
Charge for year 2,567
At 31 December 2023 24,748
NET BOOK VALUE
At 31 December 2023 7,700
At 31 December 2022 10,267

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 152,626 77,439
Other debtors - 12,637
Tax - 2,623
Prepayments 8,365 9,555
160,991 102,254

IFINA (UK) LIMITED (REGISTERED NUMBER: 04257065)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 7) - 15,646
Tax 21,688 -
PAYE 4,597 11,101
Directors' current accounts 27 9,074
Accrued expenses 16,378 17,644
42,690 53,465

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Gross obligations repayable:
Within one year - 16,546

Finance charges repayable:
Within one year - 900

Net obligations repayable:
Within one year - 15,646

Non-cancellable operating leases
2023 2022
£    £   
Within one year 17,250 6,000
Between one and five years 34,500 -
51,750 6,000

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated / decelerated capital allowances 3,338 2,005

Deferred
tax
£   
Balance at 1 January 2023 2,005
Provided during year 1,333
Balance at 31 December 2023 3,338

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Bratchie.