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REGISTERED NUMBER: 10125208 (England and Wales)















IWC FINANCIAL LTD

Unaudited Financial Statements

for the Year Ended 30 April 2024






IWC FINANCIAL LTD (REGISTERED NUMBER: 10125208)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


IWC FINANCIAL LTD

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J L Jones
G Morgan





SECRETARY: J L Jones





REGISTERED OFFICE: 1st Floor, Suite A
Unit E, Copse Walk
Cardiff Gate Business Park
Cardiff
CF23 8RB





REGISTERED NUMBER: 10125208 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

IWC FINANCIAL LTD (REGISTERED NUMBER: 10125208)

Statement of Financial Position
30 April 2024

30.4.24 30.4.23
Notes £    £   
CURRENT ASSETS
Debtors 4 45,459 80,171
Cash at bank 584 -
46,043 80,171
CREDITORS
Amounts falling due within one year 5 2,124 51,813
NET CURRENT ASSETS 43,919 28,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,919

28,358

CAPITAL AND RESERVES
Called up share capital 134,915 48,874
Retained earnings 6 (90,996 ) (20,516 )
43,919 28,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





J L Jones - Director


IWC FINANCIAL LTD (REGISTERED NUMBER: 10125208)

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

1. STATUTORY INFORMATION

IWC Financial 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.

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 as modified by the revaluation of certain assets.

The company meets its working capital requirements through the ongoing support of its directors. If this support is removed, it may not be appropriate for the financial statements to be prepared on a going concern basis and as such the company's assets and liabilities may have to be restated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs.

Revenue is measured recognised when goods are delivered and legal title has passed. It is recognised at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

IWC FINANCIAL LTD (REGISTERED NUMBER: 10125208)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 45,459 80,171

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts - 49,893
Trade creditors 12 -
Other creditors 2,112 1,920
2,124 51,813

6. RESERVES
Retained
earnings
£   

At 1 May 2023 (20,516 )
Deficit for the year (70,480 )
At 30 April 2024 (90,996 )