IRIS Accounts Production v24.3.0.553 07513647 director 31.3.23 30.3.24 30.3.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075136472023-03-30075136472024-03-30075136472023-03-312024-03-30075136472022-03-30075136472022-03-312023-03-30075136472023-03-3007513647ns15:EnglandWales2023-03-312024-03-3007513647ns14:PoundSterling2023-03-312024-03-3007513647ns10:Director12023-03-312024-03-3007513647ns10:PrivateLimitedCompanyLtd2023-03-312024-03-3007513647ns10:SmallEntities2023-03-312024-03-3007513647ns10:AuditExempt-NoAccountantsReport2023-03-312024-03-3007513647ns10:SmallCompaniesRegimeForDirectorsReport2023-03-312024-03-3007513647ns10:SmallCompaniesRegimeForAccounts2023-03-312024-03-3007513647ns10:AbridgedAccounts2023-03-312024-03-300751364712023-03-312024-03-3007513647ns10:OrdinaryShareClass12023-03-312024-03-3007513647ns10:RegisteredOffice2023-03-312024-03-3007513647ns5:CurrentFinancialInstruments2024-03-3007513647ns5:CurrentFinancialInstruments2023-03-3007513647ns5:ShareCapital2024-03-3007513647ns5:ShareCapital2023-03-3007513647ns5:RevaluationReserve2024-03-3007513647ns5:RevaluationReserve2023-03-3007513647ns5:RetainedEarningsAccumulatedLosses2024-03-3007513647ns5:RetainedEarningsAccumulatedLosses2023-03-3007513647ns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-312024-03-3007513647ns5:PlantMachinery2023-03-312024-03-3007513647ns5:ComputerEquipment2023-03-312024-03-3007513647ns10:OrdinaryShareClass12024-03-3007513647ns5:RevaluationReserve2023-03-30075136471ns10:Director12023-03-30075136471ns10:Director12022-03-30075136471ns10:Director12023-03-312024-03-30075136471ns10:Director12022-03-312023-03-30075136471ns10:Director12024-03-30075136471ns10:Director12023-03-30
REGISTERED NUMBER: 07513647 (England and Wales)


























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: Dr I D Gallagher





REGISTERED OFFICE: Flat 12 Micawber Court
Windsor Terrace
London
N1 7TE





REGISTERED NUMBER: 07513647 (England and Wales)





ACCOUNTANTS: Livesey Spottiswood Ltd
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 4 259,442 212,243
Tangible assets 5 1,688 2,971
261,130 215,214

CURRENT ASSETS
Debtors 5,374 5,001
Cash at bank 2,269 8,550
7,643 13,551
CREDITORS
Amounts falling due within one year (8,835 ) (13,940 )
NET CURRENT LIABILITIES (1,192 ) (389 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

259,938

214,825

PROVISIONS FOR LIABILITIES (65,160 ) (53,810 )
NET ASSETS 194,778 161,015

CAPITAL AND RESERVES
Called up share capital 6 100 100
Fair value reserve 7 194,582 159,183
Retained earnings 96 1,732
SHAREHOLDERS' FUNDS 194,778 161,015

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

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

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 Balance Sheet for the year ended 30 March 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 27 January 2025 and were signed by:





Dr I D Gallagher - Director


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 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 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
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
Computer equipment - Straight line over 3 years

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 1 (2023 - 1 ) .

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 212,243
Disposals (9,236 )
Revaluations 56,435
At 30 March 2024 259,442
NET BOOK VALUE

At 30 March 2024 259,442
At 30 March 2023 212,243


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 31 March 2023 9,407
Additions 1,063
At 30 March 2024 10,470
DEPRECIATION
At 31 March 2023 6,436
Charge for year 2,346
At 30 March 2024 8,782
NET BOOK VALUE
At 30 March 2024 1,688
At 30 March 2023 2,971

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

7. RESERVES
Fair
value
reserve
£   
At 31 March 2023 159,183
Fair value movement on cryptocurrency 47,199
Movement in deferred tax on revaluation of
cryptocurrency

(11,800

)


At 30 March 2024 194,582

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
£    £   
Dr I D Gallagher
Balance outstanding at start of year (137 ) 7,450
Amounts advanced 4,155 -
Amounts repaid - (7,587 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,018 (137 )

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.