Company registration number 15596433 (England and Wales)
iWeb Holdings Limited
Unaudited financial statements
For the period ended 31 October 2024
iWeb Holdings Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
iWeb Holdings Limited
Statement of financial position
As at 31 October 2024
31 October 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investments
3
10,050,000
Current assets
Cash at bank and in hand
51,001
Creditors: amounts falling due within one year
4
(4,680,297)
Net current liabilities
(4,629,296)
Net assets
5,420,704
Capital and reserves
Called up share capital
4,000,113
Profit and loss reserves
1,420,591
Total equity
5,420,704

For the financial period ended 31 October 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 of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 February 2025 and are signed on its behalf by:
Mr N A Pinson
Director
Company registration number 15596433 (England and Wales)
iWeb Holdings Limited
Notes to the financial statements
For the period ended 31 October 2024
- 2 -
1
Accounting policies
Company information

iWeb Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Parker Court, Dyson Way, Staffordshire Technology Park, Stafford, Staffordshire, ST18 0WP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

iWeb Holdings Limited
Notes to the financial statements (continued)
For the period ended 31 October 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
-
0
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
10,050,000
iWeb Holdings Limited
Notes to the financial statements (continued)
For the period ended 31 October 2024
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 27 March 2024
-
Additions
10,050,000
At 31 October 2024
10,050,000
Carrying amount
At 31 October 2024
10,050,000
4
Creditors: amounts falling due within one year
2024
£
Other creditors
4,680,297
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