Company registration number 15429689 (England and Wales)
IFW14 PROMOTIONS LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
IFW14 PROMOTIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
IFW14 PROMOTIONS LTD
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
Notes
£
£
Fixed assets
Tangible assets
3
13,765
Current assets
Debtors
4
20,207
Cash at bank and in hand
36,256
56,463
Creditors: amounts falling due within one year
5
(19,085)
Net current assets
37,378
Total assets less current liabilities
51,143
Provisions for liabilities
(3,258)
Net assets
47,885
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
47,785
Total equity
47,885

For the financial period ended 31 January 2025 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 director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 29 March 2025
Mr I Feyi-Waboso
Director
Company registration number 15429689 (England and Wales)
IFW14 PROMOTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
- 2 -
1
Accounting policies
Company information

IFW14 Promotions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, United Kingdom, NP20 2DW.

1.1
Reporting period

These are the first set of financial statements since incorporation and cover a period of approximately 13 months

1.2
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.

1.3
Turnover

Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in

exchange for promotional services provided. Turnover represents the value of goods and services provided in the

normal course of business excluding VAT

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Sports equipment
20% on cost
Fixtures and fittings
20% on cost
Computers
20% on cost
1.5
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 balance sheet 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.

IFW14 PROMOTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

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

2025
Number
Total
1
IFW14 PROMOTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2025
- 4 -
3
Tangible fixed assets
Sports equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 22 January 2024
-
0
-
0
-
0
-
0
Additions
2,481
6,310
6,173
14,964
At 31 January 2025
2,481
6,310
6,173
14,964
Depreciation and impairment
At 22 January 2024
-
0
-
0
-
0
-
0
Depreciation charged in the period
353
208
638
1,199
At 31 January 2025
353
208
638
1,199
Carrying amount
At 31 January 2025
2,128
6,102
5,535
13,765
4
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
20,207
5
Creditors: amounts falling due within one year
2025
£
Corporation tax
9,106
Other taxation and social security
6,147
Other creditors
3,832
19,085
6
Called up share capital
2025
2025
Ordinary share capital
Number
£
Issued and fully paid
Oridnary shares of £1 each
100
100
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