REGISTERED NUMBER: 05941451 (England and Wales)

IFP Associates Limited

Unaudited Financial Statements

for the year ended

31 December 2024

Page

Balance Sheet

1

to

2

Notes to the Financial Statements

3

to

5

Chartered Accountants' Report

6

FIXED ASSETS

Tangible assets

4

15,850

9,489

Investments

5

15,943

14,665

31,793

24,154

CURRENT ASSETS

Debtors

6

62,114

55,395

Cash at bank and in hand

168,481

112,685

230,595

168,080

CREDITORS

Amounts falling due within one year

7

(64,449

)

(46,376

)

NET CURRENT ASSETS

166,146

121,704

TOTAL ASSETS LESS CURRENT LIABILITIES

197,939

145,858

PROVISIONS FOR LIABILITIES

(3,963

)

(1,803

)

NET ASSETS

193,976

144,055

CAPITAL AND RESERVES

Called up share capital

1,202

1,202

Revaluation reserve

5,443

4,165

Retained earnings

187,331

138,688

SHAREHOLDERS' FUNDS

193,976

144,055

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

N W Parker - Director

1.	STATUTORY INFORMATION

IFP Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05941451

Registered office:

Henderson Business Centre

Ivy Road

Norwich

NR5 8BF

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

28,695

2,765

31,460

Additions

9,486

228

9,714

At 31 December 2024

38,181

2,993

41,174

DEPRECIATION

At 1 January 2024

21,088

883

21,971

Charge for year

3,045

308

3,353

At 31 December 2024

24,133

1,191

25,324

NET BOOK VALUE

At 31 December 2024

14,048

1,802

15,850

At 31 December 2023

7,607

1,882

9,489

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2024

14,665

Revaluations

1,278

At 31 December 2024

15,943

NET BOOK VALUE

At 31 December 2024

15,943

At 31 December 2023

14,665

The investment has been valued at market value at the Balance Sheet date by the directors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

62,114

55,395

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

42,912

24,648

Other creditors

21,537

21,728

64,449

46,376

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the directors £20,187 (2023: £20,475). This is interest free and there are no fixed repayment terms.

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year.

We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.

TC Group

Accountants

Yare House

62-64 Thorpe Road

Norwich

Norfolk

NR1 1RY

9 September 2025