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Company Registration No. 10562000 (England and Wales)
Institute For Free Trade Ltd Unaudited accounts for the year ended 31 January 2024
Institute For Free Trade Ltd Unaudited accounts Contents
Page
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Institute For Free Trade Ltd Company Information for the year ended 31 January 2024
Directors
Naweed Khan Daniel John Hannan
Company Number
10562000 (England and Wales)
Registered Office
The Vinson Building Hunter Street University of Buckingham Buckingham MK18 1EG United Kingdom
Accountants
Younis Bhatti & Co Ltd 93 Broad Street Birmingham West Midlands B15 1AU
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Institute For Free Trade Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
619 
1,020 
Current assets
Cash at bank and in hand
108,100 
85,884 
Creditors: amounts falling due within one year
(8,270)
(7,483)
Net current assets
99,830 
78,401 
Net assets
100,449 
79,421 
Capital and reserves
Profit and loss account
100,449 
79,421 
Shareholders' funds
100,449 
79,421 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by
Daniel John Hannan Director Company Registration No. 10562000
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Institute For Free Trade Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Institute For Free Trade Ltd is a private company, limited by shares, registered in England and Wales, registration number 10562000. The registered office is The Vinson Building, Hunter Street, University of Buckingham, Buckingham, MK18 1EG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15%
Computer equipment
10%
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
2,123 
765 
2,888 
At 31 January 2024
2,123 
765 
2,888 
Depreciation
At 1 February 2023
1,536 
332 
1,868 
Charge for the year
318 
83 
401 
At 31 January 2024
1,854 
415 
2,269 
Net book value
At 31 January 2024
269 
350 
619 
At 31 January 2023
587 
433 
1,020 
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Institute For Free Trade Ltd Notes to the Accounts for the year ended 31 January 2024
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
2,082 
2,082 
Taxes and social security
6,188 
3,959 
Other creditors
- 
1,442 
8,270 
7,483 
6
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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