IRIS Accounts Production v25.1.3.33 09435049 director 1.10.23 30.9.24 30.9.24 true false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094350492023-09-30094350492024-09-30094350492023-10-012024-09-30094350492023-02-28094350492023-03-012023-09-30094350492023-09-3009435049ns15:EnglandWales2023-10-012024-09-3009435049ns14:PoundSterling2023-10-012024-09-3009435049ns10:Director12023-10-012024-09-3009435049ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3009435049ns10:SmallEntities2023-10-012024-09-3009435049ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3009435049ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3009435049ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3009435049ns10:FullAccounts2023-10-012024-09-300943504912023-10-012024-09-3009435049ns10:OrdinaryShareClass12023-10-012024-09-3009435049ns10:RegisteredOffice2023-10-012024-09-3009435049ns5:CurrentFinancialInstruments2023-09-3009435049ns5:CurrentFinancialInstruments2024-09-3009435049ns5:ShareCapital2023-09-3009435049ns5:ShareCapital2024-09-3009435049ns5:RetainedEarningsAccumulatedLosses2023-09-3009435049ns5:RetainedEarningsAccumulatedLosses2024-09-3009435049ns5:PatentsTrademarksLicencesConcessionsSimilar2023-10-012024-09-3009435049ns5:ComputerSoftware2023-10-012024-09-3009435049ns5:FurnitureFittings2023-10-012024-09-3009435049ns5:ComputerEquipment2023-10-012024-09-3009435049ns5:PatentsTrademarksLicencesConcessionsSimilar2023-09-3009435049ns5:ComputerSoftware2023-09-3009435049ns5:PatentsTrademarksLicencesConcessionsSimilar2024-09-3009435049ns5:ComputerSoftware2024-09-3009435049ns5:PatentsTrademarksLicencesConcessionsSimilar2023-09-3009435049ns5:ComputerSoftware2023-09-3009435049ns5:FurnitureFittings2023-09-3009435049ns5:ComputerEquipment2023-09-3009435049ns5:FurnitureFittings2024-09-3009435049ns5:ComputerEquipment2024-09-3009435049ns5:FurnitureFittings2023-09-3009435049ns5:ComputerEquipment2023-09-3009435049ns5:CostValuation2023-09-3009435049ns5:OtherIncreaseDecreaseInInvestments2024-09-3009435049ns5:CostValuation2024-09-3009435049ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3009435049ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3009435049ns10:OrdinaryShareClass12024-09-30
REGISTERED NUMBER: 09435049 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

IFLSCIENCE LIMITED

IFLSCIENCE LIMITED (REGISTERED NUMBER: 09435049)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IFLSCIENCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: R A Kafato





REGISTERED OFFICE: Unit 6 Woodview
Bull Lane Industrial Estate
Bull Lane, Acton
Sudbury
Suffolk
CO10 0FD





REGISTERED NUMBER: 09435049 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP

IFLSCIENCE LIMITED (REGISTERED NUMBER: 09435049)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.23 30.9.24
£    £    Notes £   
FIXED ASSETS
3,348 Intangible assets 4 1,674
8,442 Property, plant and equipment 5 6,929
33,073 Investments 6 29,913
44,863 38,516

CURRENT ASSETS
484,069 Debtors 7 281,210
105,578 Cash at bank and in hand 271,418
589,647 552,628
CREDITORS
1,884,033 Amounts falling due within one year 8 2,065,167
(1,294,386 ) NET CURRENT LIABILITIES (1,512,539 )
(1,249,523 ) TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,474,023

)

1,604 PROVISIONS FOR LIABILITIES 1,316
(1,251,127 ) NET LIABILITIES (1,475,339 )

CAPITAL AND RESERVES
102 Called up share capital 9 102
(1,251,229 ) Retained earnings (1,475,441 )
(1,251,127 ) SHAREHOLDERS' FUNDS (1,475,339 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

IFLSCIENCE LIMITED (REGISTERED NUMBER: 09435049)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 director and authorised for issue on 3 June 2025 and were signed by:





R A Kafato - Director


IFLSCIENCE LIMITED (REGISTERED NUMBER: 09435049)

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

1. STATUTORY INFORMATION

IFLScience 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.

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.

Turnover
Turnover represents the value of sales during the year, by reference to invoiced sales.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Website
The company has capitalised costs incurred in developing the company's website from which it derives the majority of its income.

The directors have determined that the useful life of the website is 2 years and the costs are amortised evenly over this period.

Trademarks
The company has capitalised the costs of establishing and registering trademarks.

Trademark registration is for 10 years and the costs are amortised evenly over this period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Financial instruments
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.


IFLSCIENCE LIMITED (REGISTERED NUMBER: 09435049)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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
At the year end the company had significant net current liabilities and its total liabilities exceeded its total assets. However there is sufficient financial support available from other associated companies controlled by the Director to be of the opinion that the company remains a going concern for a period of at least twelve months from the date of approving these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

IFLSCIENCE LIMITED (REGISTERED NUMBER: 09435049)

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

4. INTANGIBLE FIXED ASSETS
Totals Trademarks Website
£    £    £   
COST
At 1 October 2023
and 30 September 2024 292,641 16,740 275,901
AMORTISATION
At 1 October 2023 289,293 13,392 275,901
Amortisation for year 1,674 1,674 -
At 30 September 2024 290,967 15,066 275,901
NET BOOK VALUE
At 30 September 2024 1,674 1,674 -
At 30 September 2023 3,348 3,348 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
Totals fittings equipment
£    £    £   
COST
At 1 October 2023 24,176 9,376 14,800
Additions 3,028 - 3,028
At 30 September 2024 27,204 9,376 17,828
DEPRECIATION
At 1 October 2023 15,734 9,376 6,358
Charge for year 4,541 - 4,541
At 30 September 2024 20,275 9,376 10,899
NET BOOK VALUE
At 30 September 2024 6,929 - 6,929
At 30 September 2023 8,442 - 8,442

6. FIXED ASSET INVESTMENTS
Loans to
group
undertakings
£   
At 1 October 2023 33,073
Other movement (3,160 )
At 30 September 2024 29,913

IFLSCIENCE LIMITED (REGISTERED NUMBER: 09435049)

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

6. FIXED ASSET INVESTMENTS - continued

The investment in the subsidiary is held in US Dollars. The movement in the year reflects the change in exchange rates.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 159,898 460,126
Amounts owed by associates 96,536 -
Other debtors 24,776 23,943
281,210 484,069

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 56,639 14,109
Amounts owed to group undertakings 39,257 40,608
Amounts owed to associates 1,898,563 1,783,224
Taxation and social security 16,168 16,352
Other creditors 54,540 29,740
2,065,167 1,884,033

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
102 Ordinary £1 102 102

10. ULTIMATE CONTROLLING PARTY

The controlling party is R A Kafato.