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REGISTERED NUMBER: 14190145 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

IWLEX LTD

IWLEX LTD (REGISTERED NUMBER: 14190145)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IWLEX LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr J Craig
Mr N R W Foster





REGISTERED OFFICE: 5 The Quadrant
Coventry
United Kingdom
CV1 2EL





REGISTERED NUMBER: 14190145 (England and Wales)





ACCOUNTANTS: Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL

IWLEX LTD (REGISTERED NUMBER: 14190145)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,636 28,841
Tangible assets 5 66,113 2,379
91,749 31,220

CURRENT ASSETS
Debtors 6 12,569 55,693
Cash at bank 129,742 277,008
142,311 332,701
CREDITORS
Amounts falling due within one year 7 134,213 301,377
NET CURRENT ASSETS 8,098 31,324
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,847

62,544

PROVISIONS FOR LIABILITIES 5,932 5,932
NET ASSETS 93,915 56,612

CAPITAL AND RESERVES
Called up share capital 101 100
Retained earnings 93,814 56,512
93,915 56,612

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

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

IWLEX LTD (REGISTERED NUMBER: 14190145)

BALANCE SHEET - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2024 and were signed on its behalf by:





Mr J Craig - Director


IWLEX LTD (REGISTERED NUMBER: 14190145)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Iwlex 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.

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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 5% on reducing balance
Computer equipment - 25% Straight line

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

IWLEX LTD (REGISTERED NUMBER: 14190145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 July 2023
and 30 June 2024 32,045
AMORTISATION
At 1 July 2023 3,204
Amortisation for year 3,205
At 30 June 2024 6,409
NET BOOK VALUE
At 30 June 2024 25,636
At 30 June 2023 28,841

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 - 3,172 3,172
Additions 66,867 - 66,867
At 30 June 2024 66,867 3,172 70,039
DEPRECIATION
At 1 July 2023 - 793 793
Charge for year 2,340 793 3,133
At 30 June 2024 2,340 1,586 3,926
NET BOOK VALUE
At 30 June 2024 64,527 1,586 66,113
At 30 June 2023 - 2,379 2,379

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,662 55,693
Other debtors 907 -
12,569 55,693

IWLEX LTD (REGISTERED NUMBER: 14190145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,174 11,280
Taxation and social security 18,601 38,140
Other creditors 105,438 251,957
134,213 301,377

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J Craig.