Registered number
14566886
Isenau Projects Group Services Limited
Filleted Accounts
31 December 2023
Isenau Projects Group Services Limited
Registered number: 14566886
Balance Sheet
as at 31 December 2023
Notes 2023
£
Current assets
Debtors 3 10,565
Cash at bank and in hand 107
10,672
Creditors: amounts falling due within one year 4 (378,087)
Net current liabilities (367,415)
Net liabilities (367,415)
Capital and reserves
Called up share capital 10
Profit and loss account (367,425)
Shareholder's funds (367,415)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sven Moos
Director
Approved by the board on 16 September 2024
Isenau Projects Group Services Limited
Notes to the Accounts
for the period from 3 January 2023 to 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Going concern
The accounts have been prepared on a going concern basis on the assumption that the company will continue to trade in the foreseeable future. The basis may not be appropriate because as at 31 December 2023 the company's liabilities exceeded its assets by £367,415. The director is of the opinion that the company will trade profitably in the future and the company receives continued financial support from its director. If this basis were found not to be appropriate assets and liabilities would have to be restated on a break up basis which would not be materially different.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 2 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023
Number
Average number of persons employed by the company 0
3 Debtors 2023
£
Other debtors 10,565
4 Creditors: amounts falling due within one year 2023
£
Trade creditors 19,446
Other creditors 358,641
378,087
5 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Sven Moos - (357,891) - (357,891)
- (357,891) - (357,891)
The amount owed to the director is interest free and no repayment date has been set.
6 Controlling party
The company is controlled by the director by virtue of his shareholdings of the company.
7 Other information
Isenau Projects Group Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
147A Northcote Road
London
SW11 6QB
Isenau Projects Group Services Limited 14566886 false 2023-01-03 2023-12-31 2023-12-31 VT Final Accounts April 2024 Sven Moos No description of principal activity 14566886 2023-01-03 2023-12-31 14566886 bus:PrivateLimitedCompanyLtd 2023-01-03 2023-12-31 14566886 bus:AuditExempt-NoAccountantsReport 2023-01-03 2023-12-31 14566886 bus:Director40 2023-01-03 2023-12-31 14566886 1 2023-01-03 2023-12-31 14566886 2 2023-01-03 2023-12-31 14566886 bus:Director1 2023-01-03 2023-12-31 14566886 countries:England 2023-01-03 2023-12-31 14566886 bus:FRS102 2023-01-03 2023-12-31 14566886 bus:FilletedAccounts 2023-01-03 2023-12-31 14566886 2023-12-31 14566886 core:WithinOneYear 2023-12-31 14566886 core:ShareCapital 2023-12-31 14566886 core:RetainedEarningsAccumulatedLosses 2023-12-31 14566886 2023-01-02 iso4217:GBP xbrli:pure