REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
FOR |
I G PROJECTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
FOR |
I G PROJECTS LIMITED |
I G PROJECTS LIMITED (REGISTERED NUMBER: 07513647) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
I G PROJECTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 MARCH 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
17 George Street |
St Helens |
Merseyside |
WA10 1DB |
I G PROJECTS LIMITED (REGISTERED NUMBER: 07513647) |
ABRIDGED BALANCE SHEET |
30 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Fair value reserve | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the director and authorised for issue on |
I G PROJECTS LIMITED (REGISTERED NUMBER: 07513647) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
1. | STATUTORY INFORMATION |
I G Projects Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. |
Turnover from the provision of consultancy services is recognised by reference to the stage of completion of the transaction at the balance sheet date, the amount of turnover can be measured reliably, it is probable the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably. |
Cryptocurrency assets |
Intangible cryptocurrency assets are held at market value. Any changes in market value are recognised in the profit and loss account in the period to which they relate. For cryptocurrencies, market value is taken to be the spot rate converted value on the balance sheet reporting date. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
I G PROJECTS LIMITED (REGISTERED NUMBER: 07513647) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MARCH 2024 |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 31 March 2023 |
Disposals | ( |
) |
Revaluations |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 30 March 2023 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 31 March 2023 |
Additions |
At 30 March 2024 |
DEPRECIATION |
At 31 March 2023 |
Charge for year |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 30 March 2023 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
7. | RESERVES |
Fair |
value |
reserve |
£ |
At 31 March 2023 |
Fair value movement on cryptocurrency | 47,199 |
Movement in deferred tax on revaluation of cryptocurrency |
(11,800 |
) |
At 30 March 2024 |
I G PROJECTS LIMITED (REGISTERED NUMBER: 07513647) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MARCH 2024 |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 March 2024 and 30 March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
The above summarises the net movements on the director's loan account during the year. Where applicable interest has been charged using HM Revenue & Customs rates. |