Company Registration No. 13397033 (England and Wales)
IZC Investments Limited
Unaudited accounts
for the year ended 31 May 2024
IZC Investments Limited
Unaudited accounts
Contents
IZC Investments Limited
Statement of financial position
as at 31 May 2024
Tangible assets
43,673
1,501
Cash at bank and in hand
17,431
2,221
Creditors: amounts falling due within one year
(41,494)
(64,540)
Net current assets/(liabilities)
221
(1,401)
Total assets less current liabilities
43,894
100
Creditors: amounts falling due after more than one year
(35,165)
-
Called up share capital
100
100
Profit and loss account
8,629
-
Shareholders' funds
8,729
100
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2025 and were signed on its behalf by
Craig Donohue
Director
Company Registration No. 13397033
IZC Investments Limited
Notes to the Accounts
for the year ended 31 May 2024
IZC Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 13397033. The registered office is 20-22 Wenlock Road, London, N1 7GU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
IZC Investments Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2023
1,951
-
1,951
At 31 May 2024
1,951
53,090
55,041
Charge for the year
300
10,618
10,918
At 31 May 2024
750
10,618
11,368
At 31 May 2024
1,201
42,472
43,673
At 31 May 2023
1,501
-
1,501
Amounts falling due within one year
Other debtors
24,284
60,918
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
7,004
-
Taxes and social security
17,621
11,299
Other creditors
16,869
53,241
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
35,165
-
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).