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REGISTERED NUMBER: 01037648 (England and Wales)













ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

IVACROFT LIMITED

IVACROFT LIMITED (REGISTERED NUMBER: 01037648)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


IVACROFT LIMITED (REGISTERED NUMBER: 01037648)

ABRIDGED BALANCE SHEET
29TH FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,586 40,801

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 229,691 207,216
Cash at bank 5,313 -
240,004 212,216
CREDITORS
Amounts falling due within one year 175,988 157,765
NET CURRENT ASSETS 64,016 54,451
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,602

95,252

CREDITORS
Amounts falling due after more than
one year

145,000

145,000
NET LIABILITIES (49,398 ) (49,748 )

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings (49,498 ) (49,848 )
SHAREHOLDERS' FUNDS (49,398 ) (49,748 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

IVACROFT LIMITED (REGISTERED NUMBER: 01037648)

ABRIDGED BALANCE SHEET - continued
29TH FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29th February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th November 2024 and were signed by:





C A Webb - Director


IVACROFT LIMITED (REGISTERED NUMBER: 01037648)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Ivacroft Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01037648

Registered office: Old Guard House
Trimms Green
Sawbridgeworth
Herts
CM21 0LX

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The going concern basis has been adopted in the preparation of these financial statements. The company's turnover for the period was £595,190 (2023 - £542,244) and the company recorded a profit before taxation of £432 (2023 - £46,177 loss).
The director acknowledges that there is a level of uncertainty in the general economic environment that may impact on the demand for the services the company supplies however based on the assessment of the business believe he is well placed to manage these business risks.
The company is reliant on the continued support of its director.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

IVACROFT LIMITED (REGISTERED NUMBER: 01037648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially as transaction value and subsequently measured at their settlement value. The company has no bank loans or other more complex financial instruments that require measurement at amortised cost using the effective interest method.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2023 - 9 ) .

IVACROFT LIMITED (REGISTERED NUMBER: 01037648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st March 2023 119,598
Additions 1,151
At 29th February 2024 120,749
DEPRECIATION
At 1st March 2023 78,797
Charge for year 10,366
At 29th February 2024 89,163
NET BOOK VALUE
At 29th February 2024 31,586
At 28th February 2023 40,801

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

6. ULTIMATE CONTROLLING PARTY

The controlling party is C A Webb.

The ultimate controlling party is C A Webb.