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REGISTERED NUMBER: 00961158 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

IFS LIMITED

IFS LIMITED (REGISTERED NUMBER: 00961158)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IFS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Dr A C Stewart
Mr D R Rainsford



SECRETARY: Dr A C Stewart



REGISTERED OFFICE: Unit 1, Cambridge House
Camboro Business Park
Oakington Road, Girton
CAMBRIDGE
Cambridgeshire
CB3 0QH



REGISTERED NUMBER: 00961158 (England and Wales)



ACCOUNTANTS: Staffords
Chartered Accountants
Unit 1, Cambridge House
Camboro Business Park
Oakington Road, Girton
CAMBRIDGE
Cambridgeshire
CB3 0QH



BANKERS: Barclays Bank plc
189 Bedford Road
Kempston
BEDFORD
MK42 8DH

IFS LIMITED (REGISTERED NUMBER: 00961158)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 1,835,007 1,702,984
1,835,007 1,702,984

CURRENT ASSETS
Investments 6 5,000 5,000
Cash at bank 650,129 541,359
655,129 546,359
CREDITORS
Amounts falling due within one year 7 424,089 418,389
NET CURRENT ASSETS 231,040 127,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,066,047

1,830,954

CAPITAL AND RESERVES
Called up share capital 320,000 320,000
Revaluation reserve 8 360,999 137,268
Capital redemption reserve 8 80,000 80,000
Retained earnings 8 1,305,048 1,293,686
SHAREHOLDERS' FUNDS 2,066,047 1,830,954

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

IFS LIMITED (REGISTERED NUMBER: 00961158)

BALANCE SHEET - continued
31 MAY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:





Dr A C Stewart - Director


IFS LIMITED (REGISTERED NUMBER: 00961158)

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


1. STATUTORY INFORMATION

IFS Limited 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 7,354 24,428 31,782
DEPRECIATION
At 1 June 2023
and 31 May 2024 7,354 24,428 31,782
NET BOOK VALUE
At 31 May 2024 - - -
At 31 May 2023 - - -

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Shares in group undertakings 2 2
Other investments not loans 1,835,005 1,702,982
1,835,007 1,702,984

IFS LIMITED (REGISTERED NUMBER: 00961158)

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


5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group Listed
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 June 2023 2 1,586,260 1,586,262
Disposals - (90,549 ) (90,549 )
Revaluations - 224,425 224,425
At 31 May 2024 2 1,720,136 1,720,138
NET BOOK VALUE
At 31 May 2024 2 1,720,136 1,720,138
At 31 May 2023 2 1,586,260 1,586,262

Cost or valuation at 31 May 2024 is represented by:

Shares in
group Listed
undertakings investments Totals
£    £    £   
Valuation in 2024 - 1,720,136 1,720,136
Cost 2 - 2
2 1,720,136 1,720,138

If Fixed Asset Investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,359,137 1,448,992

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Paintings 114,869 116,722

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 5,000 5,000

IFS LIMITED (REGISTERED NUMBER: 00961158)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 420,154 414,454
Accruals and deferred income 3,935 3,935
424,089 418,389

8. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 June 2023 1,293,686 137,268 80,000 1,510,954
Profit for the year 61,668 61,668
Dividends (51,000 ) (51,000 )
Movement on revaluation - 224,425 - 224,425
Realised profit transfer 694 (694 ) - -
At 31 May 2024 1,305,048 360,999 80,000 1,746,047