Company No: 09671501 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	James Anthony Hilton-Scott (Appointed 01 June 2024)
	Natasha Louise Morrell (Appointed 29 October 2024)
	Stephen Jonathan Morrell (Appointed 29 October 2024)
	James Michael Shaw (Appointed 01 June 2024)
	Ian David Walker (Resigned 29 October 2024)

REGISTERED OFFICE	Wellington House
	Aviator Court
	York
	YO30 4UZ
	United Kingdom

COMPANY NUMBER

09671501 (England and Wales)

ACCOUNTANT	Morrell Middleton Auditors Ltd Chartered Certified Accountants
	Wellington House
	Aviator Court
	York
	YO30 4UZ

	Note	31.01.2025		31.03.2024
		£		£
Fixed assets
Intangible assets	5	6,500		11,500
Tangible assets	6	6,319		9,072
		12,819		20,572
Current assets
Stocks	7	109,000		49,055
Debtors	8	84,482		150,451
Cash at bank and in hand	9	( 46,678)		12,335
		146,804		211,841
Creditors: amounts falling due within one year	10	( 105,199)		( 135,086)
Net current assets		41,605		76,755
Total assets less current liabilities		54,424		97,327
Creditors: amounts falling due after more than one year	11	( 50,940)		22,930
Net assets		3,484		120,257
Capital and reserves
Called-up share capital	12	991		991
Profit and loss account		2,493		119,266
Total shareholders' funds		3,484		120,257

For the financial period ending 31 January 2025 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 financial statements for the financial period 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of IWC Professional Ltd (registered number: 09671501) were approved and authorised for issue by the Board of Directors on 15 September 2025. They were signed on its behalf by:

Stephen Jonathan Morrell Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

IWC Professional Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wellington House, Aviator Court, York, YO30 4UZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

Reporting period length

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

	Period from 01.04.2024 to 31.01.2025		Year ended 31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	14		13

4. Dividends on equity shares

5. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	60,000		60,000
At 31 January 2025	60,000		60,000
Accumulated amortisation
At 01 April 2024	48,500		48,500
At 31 January 2025	53,500		53,500
Net book value
At 31 January 2025	6,500		6,500
At 31 March 2024	11,500		11,500

6. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	29,448		29,448
At 31 January 2025	30,426		30,426
Accumulated depreciation
At 01 April 2024	20,376		20,376
At 31 January 2025	24,107		24,107
Net book value
At 31 January 2025	6,319		6,319
At 31 March 2024	9,072		9,072

7. Stocks

	31.01.2025		31.03.2024
	£		£
Work in progress	109,000		49,055

8. Debtors

	31.01.2025		31.03.2024
	£		£
Trade debtors	76,982		96,354
Other debtors	7,500		54,097
	84,482		150,451

9. Cash and cash equivalents

	31.01.2025		31.03.2024
	£		£
Cash at bank and in hand	( 46,678)		12,335

10. Creditors: amounts falling due within one year

	31.01.2025		31.03.2024
	£		£
Bank loans	14,856		23,265
Trade creditors	26,289		2,394
Taxation and social security	18,509		68,392
Other creditors	45,545		41,035
	105,199		135,086

11. Creditors: amounts falling due after more than one year

	31.01.2025		31.03.2024
	£		£
Amounts owed to Group undertakings	50,940		( 22,930)

There are no amounts included above in respect of which any security has been given by the small entity.

12. Called-up share capital

	31.01.2025		31.03.2024
	£		£
Allotted, called-up and fully-paid
990 Ordinary shares of £ 1.00 each	990		990
1 A ORDINARY share of £ 1.00	1		1
	991		991

13. Ultimate controlling party

Parent Company:

Morrell Middleton Auditors Ltd

Wellington House, Aviator Court, York. YO30 4UZ