IAW Alchemy Ltd 10137833 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is buying and selling of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true 10137833 2023-05-01 2024-04-30 10137833 2024-04-30 10137833 bus:Director1 1 2024-04-30 10137833 core:CurrentFinancialInstruments 2024-04-30 10137833 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 10137833 core:Goodwill 2024-04-30 10137833 bus:SmallEntities 2023-05-01 2024-04-30 10137833 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10137833 bus:FilletedAccounts 2023-05-01 2024-04-30 10137833 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10137833 bus:RegisteredOffice 2023-05-01 2024-04-30 10137833 bus:Director1 2023-05-01 2024-04-30 10137833 bus:Director1 1 2023-05-01 2024-04-30 10137833 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10137833 core:Goodwill 2023-05-01 2024-04-30 10137833 countries:EnglandWales 2023-05-01 2024-04-30 10137833 2023-04-30 10137833 bus:Director1 1 2023-04-30 10137833 core:Goodwill 2023-04-30 10137833 2022-05-01 2023-04-30 10137833 2023-04-30 10137833 bus:Director1 1 2023-04-30 10137833 core:CurrentFinancialInstruments 2023-04-30 10137833 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 10137833 core:Goodwill 2023-04-30 10137833 bus:Director1 1 2022-05-01 2023-04-30 10137833 bus:Director1 1 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 10137833

IAW Alchemy Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

IAW Alchemy Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

IAW Alchemy Ltd

Company Information

Director

N R Clark

Registered office

Suite A4
Skylon Court Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

IAW Alchemy Ltd

(Registration number: 10137833)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,800

2,400

Investment property

5

195,000

185,000

 

196,800

187,400

Current assets

 

Debtors

6

317

317

Cash at bank and in hand

 

17,882

5,387

 

18,199

5,704

Creditors: Amounts falling due within one year

7

(200,546)

(195,164)

Net current liabilities

 

(182,347)

(189,460)

Total assets less current liabilities

 

14,453

(2,060)

Provisions for liabilities

(18,973)

(12,519)

Net liabilities

 

(4,520)

(14,579)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(4,620)

(14,679)

Shareholders' deficit

 

(4,520)

(14,579)

 

IAW Alchemy Ltd

(Registration number: 10137833)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 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 11 November 2024
 

.........................................
N R Clark
Director

 

IAW Alchemy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite A4
Skylon Court Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the director on 11 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

IAW Alchemy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Amortisation

10% Straight Line Method

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.

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.

 

IAW Alchemy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

6,000

6,000

At 30 April 2024

6,000

6,000

Amortisation

At 1 May 2023

3,600

3,600

Amortisation charge

600

600

At 30 April 2024

4,200

4,200

Carrying amount

At 30 April 2024

1,800

1,800

At 30 April 2023

2,400

2,400

5

Investment properties

2024
£

At 1 May

185,000

Fair value adjustments

10,000

At 30 April

195,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

2023
£

Other debtors

317

317

 

317

317

 

IAW Alchemy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,800

1,680

Other creditors

198,746

193,484

200,546

195,164

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

N R Clark

Directors loan account

(13,445)

2,983

(44,573)

(55,035)

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

N R Clark

Directors loan account

(11,401)

8,277

(10,321)

(13,445)