Iris Advisors Limited 14975382 false 2023-07-03 2024-12-31 2024-12-31 The principal activity of the company is that of providing content distribution and advisory services in the sports media sector. Digita Accounts Production Advanced 6.30.9574.0 true 14975382 2023-07-03 2024-12-31 14975382 2024-12-31 14975382 core:CurrentFinancialInstruments 2024-12-31 14975382 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 14975382 core:FurnitureFittingsToolsEquipment 2024-12-31 14975382 bus:SmallEntities 2023-07-03 2024-12-31 14975382 bus:AuditExemptWithAccountantsReport 2023-07-03 2024-12-31 14975382 bus:AbridgedAccounts 2023-07-03 2024-12-31 14975382 bus:SmallCompaniesRegimeForAccounts 2023-07-03 2024-12-31 14975382 bus:RegisteredOffice 2023-07-03 2024-12-31 14975382 bus:Director1 2023-07-03 2024-12-31 14975382 bus:Director2 2023-07-03 2024-12-31 14975382 bus:Director3 2023-07-03 2024-12-31 14975382 bus:PrivateLimitedCompanyLtd 2023-07-03 2024-12-31 14975382 bus:Agent1 2023-07-03 2024-12-31 14975382 core:FurnitureFittingsToolsEquipment 2023-07-03 2024-12-31 14975382 countries:UnitedKingdom 2023-07-03 2024-12-31 iso4217:GBP xbrli:pure

Registration number: 14975382

Iris Advisors Limited

Annual Report and Unaudited Abridged Financial Statements

for the Period from 3 July 2023 to 31 December 2024

 

Iris Advisors Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Iris Advisors Limited

Company Information

Directors

Mr Floris Weisz

Mr Ioris Francini

Mr Graham Wallace

Registered office

5th Floor
86 Jermyn Street
London
SW1Y 6AW

Accountants

Verfides 5th Floor
86 Jermyn Street
London
SW1Y 6AW

 

Iris Advisors Limited

(Registration number: 14975382)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

21,987

Current assets

 

Debtors

1,204,790

Cash at bank and in hand

 

3,269,246

 

4,474,036

Creditors: Amounts falling due within one year

(3,450,718)

Net current assets

 

1,023,318

Net assets

 

1,045,305

Capital and reserves

 

Called up share capital

1,000

Retained earnings

1,044,305

Shareholders' funds

 

1,045,305

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Iris Advisors Limited

(Registration number: 14975382)
Abridged Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 

.........................................

Mr Floris Weisz

Director

.........................................

Mr Ioris Francini

Director

.........................................

Mr Graham Wallace

Director

 

Iris Advisors Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 3 July 2023 to 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
5th Floor
86 Jermyn Street
London
SW1Y 6AW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Pounds Sterling which is the functional currency of the company and are rounded to the nearest whole Pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Iris Advisors Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 3 July 2023 to 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Computer- 3 years straight line
Telephone- 3 years straight line
Fixtures & Fittings- 5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 9.

 

Iris Advisors Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 3 July 2023 to 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

27,813

27,813

At 31 December 2024

27,813

27,813

Depreciation

Charge for the period

5,826

5,826

At 31 December 2024

5,826

5,826

Carrying amount

At 31 December 2024

21,987

21,987