ILF Consulting Engineers UK Limited
Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 12726286 (England and Wales)
ILF Consulting Engineers UK Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
80,362
19,825
Cash at bank and in hand
261,962
235,517
342,324
255,342
Creditors: amounts falling due within one year
4
(89,635)
(28,520)
Net current assets
252,689
226,822
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
252,589
226,722
Total equity
252,689
226,822
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 9 May 2025
Dr C Ramakrishnan
Director
Company Registration No. 12726286
ILF Consulting Engineers UK Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 2
1
Accounting policies
Company information
ILF Consulting Engineers UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.
1.1
Accounting convention
These financial statements have been prepared in accordance with section 1A of 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 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.
ILF Consulting Engineers UK Limited is a wholly owned subsidiary of ILF Group Holding GmbH, a company incorporated in Austria and the consolidated financial statements of ILF Group Holding GmbH are available from Feldkreuzstraße 3, Rum, Tirol, 6063, Austria.
1.2
Going concern
At the balance sheet date the company had net assets of £252,689. The company derives its income from a contract with a related party, ILF Consulting Engineers Austria GmbH, as such the company is reliant on ILF Consulting Engineers Austria GmbH to remain a going concern. The director has received written confirmation fromtrue the directors of ILF Consulting Engineers Austria GmbH that they know of no reason why the contract might be terminated in the foreseeable future. Accordingly the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
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.
1.5
Financial instruments
The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as 'other' or financial instruments measured at fair value.
1.6
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.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ILF Consulting Engineers UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 3
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. 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.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 2 (2023: 2).
ILF Consulting Engineers UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 4
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
80,362
19,825
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
36,352
9,235
Corporation tax
6,068
842
Other taxation and social security
16,998
2,959
Other creditors
-
744
Accruals and deferred income
30,217
14,740
89,635
28,520
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
ILF Consulting Engineers UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 5
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Ian Matthews and the auditor was Moore Kingston Smith LLP.
7
Related party transactions
The company has taken the exemption, in accordance with FRS 102 - Section 33 "Related Party Disclosures", from disclosing related party transactions entered into between members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.
8
Parent company
The ultimate parent undertaking of the largest group which includes the company and for which group financial statements are prepared is ILF Group Holding GmbH, a company incorporated in Austria. ILF Group Holding GmbH is the immediate parent company of ILF UK Consulting Engineers UK Limited.
Copies of the group financial statements are available from ILF Group Holding GmbH, Feldkreuzstraße 3, Rum, Tirol, 6063, Austria.
The directors regard LF Beteiligungs GmbH as the ultimate controlling party which is also the ultimate parent undertaking.