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Registration number: 05006796

IBW Voidz Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

IBW Voidz Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

IBW Voidz Limited

Company Information

Director

I Worsfold

Company secretary

T Moir

Registered office

134 Mottingham Road
Mottingham
London
SE9 4SL

Accountants

BDK Accountants Ltd
24 Scotts Road
Bromley
Kent
BR1 3QD

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
IBW Voidz Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of IBW Voidz Limited for the year ended 31 March 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of IBW Voidz Limited, as a body, in accordance with the terms of our engagement letter dated 20 April 2005. Our work has been undertaken solely to prepare for your approval the accounts of IBW Voidz Limited and state those matters that we have agreed to state to the Board of Directors of IBW Voidz Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IBW Voidz Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that IBW Voidz Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of IBW Voidz Limited. You consider that IBW Voidz Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of IBW Voidz Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

BDK Accountants Ltd
24 Scotts Road
Bromley
Kent
BR1 3QD

25 November 2024

 

IBW Voidz Limited

(Registration number: 05006796)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

1,405

2,110

Current assets

 

Stocks

5

600

550

Debtors

6

34,010

31,865

Cash at bank and in hand

 

22,172

9,282

 

56,782

41,697

Creditors: Amounts falling due within one year

7

(54,547)

(42,644)

Net current assets/(liabilities)

 

2,235

(947)

Net assets

 

3,640

1,163

Capital and Reserves

 

Called up share capital

8

2

2

Retained Earnings

3,638

1,161

Shareholders' funds

 

3,640

1,163

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 November 2024
 

.........................................
I Worsfold
Director

 

IBW Voidz Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
134 Mottingham Road
Mottingham
London
SE9 4SL

These financial statements were authorised for issue by the director on 25 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

IBW Voidz Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Plant and Machinery

25% Reducing balance

Commercial motor vehicles

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

IBW Voidz Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

5,103

5,920

11,023

At 31 March 2024

5,103

5,920

11,023

Depreciation

At 1 April 2023

4,866

4,047

8,913

Charge for the year

237

468

705

At 31 March 2024

5,103

4,515

9,618

Carrying amount

At 31 March 2024

-

1,405

1,405

At 31 March 2023

237

1,873

2,110

5

Stocks

2024
£

2023
£

Other inventories

600

550

6

Debtors

Current

2024
£

2023
£

Trade Debtors

467

-

Prepayments

3,695

-

Other debtors

29,848

31,865

 

34,010

31,865

 

IBW Voidz Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade Creditors

1,279

49

Taxation and social security

9,746

9,262

Accruals and deferred income

2,924

2,631

Other creditors

40,598

30,702

54,547

42,644

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2