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REGISTERED NUMBER: 03784115 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

IRONFORGE INNOVATIONS LIMITED

IRONFORGE INNOVATIONS LIMITED (REGISTERED NUMBER: 03784115)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IRONFORGE INNOVATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







Directors: Mr D J Dore
Mrs S Y Dore
Ms S A Dore
Mr S Green





Registered office: Ironforge House Castle Lane
Melbourne
Derby
DE73 8JB





Registered number: 03784115 (England and Wales)





Accountants: TC Group
10-11 Stadium Business Court
Millennium Way
Pride Park
Derby
Derbyshire
DE24 8HP

IRONFORGE INNOVATIONS LIMITED (REGISTERED NUMBER: 03784115)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £ £
Current assets
Stocks 5 22,068 -
Debtors 6 45,989 3,053
Cash at bank 1,664 75,927
69,721 78,980
Creditors
Amounts falling due within one year 7 (54,035 ) (82,839 )
Net current assets/(liabilities) 15,686 (3,859 )
Total assets less current liabilities 15,686 (3,859 )

Creditors
Amounts falling due after more than one
year

8

(13,576

)

(24,592

)
Net assets/(liabilities) 2,110 (28,451 )

Capital and reserves
Called up share capital 9 2 2
Retained earnings 2,108 (28,453 )
Shareholders' funds 2,110 (28,451 )

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.

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 28 March 2025 and were signed on its behalf by:





Mr D J Dore - Director


IRONFORGE INNOVATIONS LIMITED (REGISTERED NUMBER: 03784115)

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

1. STATUTORY INFORMATION

Quill Falcon 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.

With effect from 11/05/2024, the name of the company was changed from Quill Falcon Ltd to Ironforge Innovations Ltd.

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.

Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Going concern
The directors consider it appropriate to prepare accounts on a going concern basis due to the financial support the company receives from other companies under common ownership and control.

IRONFORGE INNOVATIONS LIMITED (REGISTERED NUMBER: 03784115)

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 9 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery Equipment Totals
£ £ £
Cost
At 1 July 2023
and 30 June 2024 10,567 1,581 12,148
Depreciation
At 1 July 2023
and 30 June 2024 10,567 1,581 12,148
Net book value
At 30 June 2024 - - -
At 30 June 2023 - - -

5. STOCKS
2024 2023
£ £
Stocks 22,068 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 10,834 2,438
Other debtors 34,642 -
Prepayments 513 615
45,989 3,053

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 9,820 9,222
Trade creditors 29,095 31,021
Social security and other taxes 2,637 3,285
VAT 10,483 8,461
Other creditors - 28,850
Accruals and deferred income 2,000 2,000
54,035 82,839

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans - 2-5 years 13,576 24,592

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary £1 2 2

IRONFORGE INNOVATIONS LIMITED (REGISTERED NUMBER: 03784115)

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

10. RELATED PARTY DISCLOSURES

The company was under the control of Mr D Dore throughout the current and previous years.

Mr D Dore is a director and majority shareholder in Quill International Group Limited. At the year end the following balances were owed from/(to) the related party:

2024 2023
£ £

Trade debtors 813 -
Other debtors/(creditors) 34,642 (28,225 )
Trade creditors (24,046 ) (31,037 )