Registered number
13588296
IZBA SPA LTD
Filleted Accounts
for the year ended 31 August 2024
IZBA SPA LTD
Registered number: 13588296
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 22,672 3,340
Current assets
Stocks 1,575 912
Debtors 4 2,700 2,700
Cash at bank and in hand 22,274 45,857
26,549 49,469
Creditors: amounts falling due within one year 5 (35,889) (37,762)
Net current (liabilities)/assets (9,340) 11,707
Total assets less current liabilities 13,332 15,047
Creditors: amounts falling due after more than one year 6 (12,853) (14,087)
Net assets 479 960
Capital and reserves
Called up share capital 2 2
Profit and loss account 477 958
Shareholder's funds 479 960
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 her 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.
Ishrat Batool
Director
Approved by the board on 3 October 2024
IZBA SPA LTD
Notes to the Accounts
for the year ended 31 August 2024
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 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings Nil
Plant and machinery 20% reducing balances
Fixtures, fittings, tools and equipment 20% reducing balances
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 4,719
Additions 25,000
At 31 August 2024 29,719
Depreciation
At 1 September 2023 1,379
Charge for the year 5,668
At 31 August 2024 7,047
Net book value
At 31 August 2024 22,672
At 31 August 2023 3,340
4 Debtors 2024 2023
£ £
Rent deposit 2,700 2,700
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 3,506
Trade creditors 2,165 1,775
Wages Control Ac - 2,602
Barclay card - 95
NEST 133 112
Other Creditors 3,000 3,000
Taxation and social security costs 8,009 8,281
Other creditors 22,582 18,391
35,889 37,762
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,853 14,087
7 Other information
IZBA SPA LTD is a private company limited by shares and incorporated in England. Its registered office is:
25 Balham High Road
Balham
London
SW12 9AL
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