Company registration number 10320277 (England and Wales)
IGA GLOBAL LTD T/A WILSONS
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
IGA GLOBAL LTD T/A WILSONS
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
IGA GLOBAL LTD T/A WILSONS
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
230,150
77,511
Tangible assets
5
131,607
115,380
361,757
192,891
Current assets
Stocks
1,879,586
1,528,669
Debtors
6
1,214,054
1,330,341
Cash at bank and in hand
973,258
866,030
4,066,898
3,725,040
Creditors: amounts falling due within one year
7
(1,439,935)
(1,107,377)
Net current assets
2,626,963
2,617,663
Total assets less current liabilities
2,988,720
2,810,554
Creditors: amounts falling due after more than one year
8
(330,000)
(330,000)
Provisions for liabilities
(48,555)
(42,356)
Net assets
2,610,165
2,438,198
Capital and reserves
Called up share capital
430
430
Capital redemption reserve
60,000
60,000
Profit and loss reserves
2,549,735
2,377,768
Total equity
2,610,165
2,438,198
IGA GLOBAL LTD T/A WILSONS
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 2 June 2025 and are signed on its behalf by:
Mr I J Hopkins
Director
Company registration number 10320277 (England and Wales)
IGA GLOBAL LTD T/A WILSONS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

IGA Global Ltd t/a Wilsons is a private company limited by shares incorporated, registered and trading in England and Wales with company number 10320277. The registered office is Emerald House, Whitehall Road, Colchester, CO2 8HA.

1.1
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 a mounts 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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
20% reducing balance
Trademarks
10% on cost
Development costs
10% on cost
1.5
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.

IGA GLOBAL LTD T/A WILSONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
15% on cost
Plant and machinery
20% on reducing balance
Fixtures and fittings
20% on reducing balance
Computer equipment
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

I f the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
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.

1.9
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.

1.10
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.

1.11
Taxation

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

IGA GLOBAL LTD T/A WILSONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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.

1.12
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.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.15
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

IGA GLOBAL LTD T/A WILSONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.16
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
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
30
28
4
Intangible fixed assets
Goodwill
Software
Trademarks
Development costs
Total
£
£
£
£
£
Cost
At 1 January 2024
88,000
69,664
-
0
-
0
157,664
Additions - internally developed
-
0
22,935
-
0
-
0
22,935
Additions - separately acquired
-
0
-
0
140,000
23,000
163,000
At 31 December 2024
88,000
92,599
140,000
23,000
343,599
Amortisation and impairment
At 1 January 2024
64,533
15,620
-
0
-
0
80,153
Amortisation charged for the year
8,800
13,414
10,328
754
33,296
At 31 December 2024
73,333
29,034
10,328
754
113,449
Carrying amount
At 31 December 2024
14,667
63,565
129,672
22,246
230,150
At 31 December 2023
23,467
54,044
-
0
-
0
77,511
IGA GLOBAL LTD T/A WILSONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
5
Tangible fixed assets
Improvements to property
Plant and machinery
Fixtures and fittings
Computer equipment
Total
£
£
£
£
£
Cost
At 1 January 2024
29,371
110,680
65,621
97,131
302,803
Additions
-
0
37,325
1,901
9,987
49,213
Disposals
-
0
-
0
-
0
(614)
(614)
At 31 December 2024
29,371
148,005
67,522
106,504
351,402
Depreciation and impairment
At 1 January 2024
29,371
52,132
36,354
69,566
187,423
Depreciation charged in the year
-
0
13,575
5,903
13,298
32,776
Eliminated in respect of disposals
-
0
-
0
-
0
(404)
(404)
At 31 December 2024
29,371
65,707
42,257
82,460
219,795
Carrying amount
At 31 December 2024
-
0
82,298
25,265
24,044
131,607
At 31 December 2023
-
0
58,548
29,267
27,565
115,380
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,067,705
1,163,440
Other debtors
146,349
166,901
1,214,054
1,330,341
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
650,513
496,198
Taxation and social security
255,211
284,875
Other creditors
534,211
326,304
1,439,935
1,107,377
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
330,000
330,000
IGA GLOBAL LTD T/A WILSONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8
Creditors: amounts falling due after more than one year
(Continued)
- 8 -

Other creditors due after more than one year includes redeemable preference shares totalling £330,000 (2023 - £330,000). The shares which were issued at par are redeemable at par at the option of the shareholder or company.

9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
44,617
32,899
10
Related party transactions

Included within debtors due within one year are amounts due from associates of the directors of £50,000 (2023 - £nil). No interest is charged on the loan and this loan was repaid after the year end.

Included within debtors due within one year are amounts due from the directors totalling £34,474 (2023 - £27,258). A market rate of interest is paid on the loans and the loans are repayable on demand.

Included within other creditors due within one year are loans from directors totalling £462,917 (2023 - £275,858). A market rate of interest is paid on the loans and the loans are repayable on demand.

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