IRIS Accounts Production v25.1.4.42 SC389356 director 1.10.23 30.9.24 30.9.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3893562023-09-30SC3893562024-09-30SC3893562023-10-012024-09-30SC3893562022-09-30SC3893562022-10-012023-09-30SC3893562023-09-30SC389356ns15:Scotland2023-10-012024-09-30SC389356ns14:PoundSterling2023-10-012024-09-30SC389356ns10:Director12023-10-012024-09-30SC389356ns10:PrivateLimitedCompanyLtd2023-10-012024-09-30SC389356ns10:SmallEntities2023-10-012024-09-30SC389356ns10:AuditExemptWithAccountantsReport2023-10-012024-09-30SC389356ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-30SC389356ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-30SC389356ns10:FullAccounts2023-10-012024-09-30SC389356ns10:RegisteredOffice2023-10-012024-09-30SC389356ns5:CurrentFinancialInstruments2024-09-30SC389356ns5:CurrentFinancialInstruments2023-09-30SC389356ns5:ShareCapital2024-09-30SC389356ns5:ShareCapital2023-09-30SC389356ns5:RetainedEarningsAccumulatedLosses2024-09-30SC389356ns5:RetainedEarningsAccumulatedLosses2023-09-30SC389356ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-30SC389356ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30
REGISTERED NUMBER: SC389356 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

IF Capital Ltd

IF Capital Ltd (Registered number: SC389356)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

IF Capital Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTOR: J Smith





REGISTERED OFFICE: 29 Brandon Street
Hamilton
ML3 6DA





REGISTERED NUMBER: SC389356 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

IF Capital Ltd (Registered number: SC389356)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 300 -
Cash at bank and in hand 72,901 94,788
73,201 94,788
CREDITORS
Amounts falling due within one year 6 35,447 38,904
NET CURRENT ASSETS 37,754 55,884
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,754

55,884

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 37,753 55,883
SHAREHOLDERS' FUNDS 37,754 55,884

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.

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 26 June 2025 and were signed by:





J Smith - Director


IF Capital Ltd (Registered number: SC389356)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

IF Capital Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from business consultancy services supplied by the company.

Turnover is measured at the fair value of business consultancy services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

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.

Taxation
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 300 -

IF Capital Ltd (Registered number: SC389356)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 8,387 15,015
Other creditors 27,060 23,889
35,447 38,904

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company operates a loan account with the director, J Smith.

During the year, the company repaid loans totalling £5,171 to the director. At the year end, the balance due to the director was £26,572 (2023 - £21,401). There are no fixed repayment terms and no interest charged.

8. RELATED PARTY DISCLOSURES

During the year the following transactions took place with related parties:

Youth Media (UK) Ltd
A company in which J Smith is a director.

The company has a loan from Youth Media (UK) Ltd. At the year end, the balance due to Youth Media (UK) Ltd was £488 (2023 - £488).

AI Literacy School Ltd
A company in which J Smith is a director.

The company advanced a loan to AI Literacy School Ltd. At the year end, the balance due from AI Literacy School Ltd was £300 (2023 - £NIL).

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
IF Capital Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IF Capital Ltd for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of IF Capital Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of IF Capital Ltd and state those matters that we have agreed to state to the director of IF Capital Ltd in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that IF Capital Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of IF Capital Ltd. You consider that IF Capital Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of IF Capital Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


26 June 2025