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REGISTERED NUMBER: 10668439 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

IFI GROUP LTD

IFI GROUP LTD (REGISTERED NUMBER: 10668439)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IFI GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: B M Freeman
Mrs L L Kilcoyne





REGISTERED OFFICE: Landmark House
1 Riseholme Road
Lincoln
LN1 3SN





REGISTERED NUMBER: 10668439 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe (Lincoln) Ltd
Landmark House
1 Riseholme Road
Lincoln
Lincolnshire
LN1 3SN

IFI GROUP LTD (REGISTERED NUMBER: 10668439)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 146,259 209,101

CURRENT ASSETS
Debtors 5 1,841,885 1,636,469
Cash at bank 105,979 578,835
1,947,864 2,215,304
CREDITORS
Amounts falling due within one year 6 693,679 125,685
NET CURRENT ASSETS 1,254,185 2,089,619
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,400,444

2,298,720

CREDITORS
Amounts falling due after more than one
year

7

(106,670

)

81,801

PROVISIONS FOR LIABILITIES (36,565 ) (38,371 )
NET ASSETS 1,257,209 2,342,150

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 1,257,108 2,342,049
1,257,209 2,342,150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

IFI GROUP LTD (REGISTERED NUMBER: 10668439)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:




B M Freeman - Director



Mrs L L Kilcoyne - Director


IFI GROUP LTD (REGISTERED NUMBER: 10668439)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

IFI Group Ltd 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.
Motor Vehicles - 25% on Reducing Balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 3 (2023 - 2 ) .

IFI GROUP LTD (REGISTERED NUMBER: 10668439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 329,403
Additions 9,448
Disposals (75,726 )
At 31 March 2024 263,125
DEPRECIATION
At 1 April 2023 120,302
Charge for year 50,145
Eliminated on disposal (53,581 )
At 31 March 2024 116,866
NET BOOK VALUE
At 31 March 2024 146,259
At 31 March 2023 209,101

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 965,621 420,526
Other debtors 876,264 1,215,943
1,841,885 1,636,469

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 26,529 24,826
Trade creditors - 575
Taxation and social security 195,979 100,603
Other creditors 471,171 (319 )
693,679 125,685

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 106,670 133,199
Other creditors - (215,000 )
106,670 (81,801 )

IFI GROUP LTD (REGISTERED NUMBER: 10668439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

2024 2023
£    £   
B M Freeman and Mrs L L Kilcoyne
Balance outstanding at start of year 1,123,839 712,138
Amounts advanced 1,238,079 411,701
Amounts repaid (1,566,344 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 795,574 1,123,839

The overdrawn directors loan account is repaid within 9 months of the year end.