I Am Enterprises Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07857339 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2024 TO 31 DECEMBER 2024

FOR

I AM ENTERPRISES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

5

8,325

11,550

Tangible assets

6

9,044

11,710

Investments

7

50

17,419

23,310

CURRENT ASSETS

Debtors

8

249,374

150,785

Cash at bank

40,847

58,451

290,221

209,236

CREDITORS

Amounts falling due within one year

9

355,711

302,975

NET CURRENT LIABILITIES

(65,490

)

(93,739

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(48,071

)

(70,429

)

CREDITORS

Amounts falling due after more than one
year

10

(5,000

)

(12,529

)

PROVISIONS FOR LIABILITIES

11

(1,718

)

(1,093

)

NET LIABILITIES

(54,789

)

(84,051

)

CAPITAL AND RESERVES

Called up share capital

12

2

Retained earnings

(54,791

)

(84,053

)

SHAREHOLDERS' FUNDS

(54,789

)

(84,051

)

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

The members have not required the company to obtain an audit of its financial statements for the period 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr. J Smith - Director

1.	STATUTORY INFORMATION

I Am Enterprises 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:

07857339

Registered office:

48 St Leonards Road

Bexhill on Sea

East Sussex

TN40 1JB

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis notwithstanding the net liability currently shown on the balance sheet. The directors have confirmed their intention to support the company for at least the next 12 months.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, adjusted for accrued income at the year end and deferred income relating to future events.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

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

Tangible fixed assets

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

Website design costs

-

20% on cost

Office equipment

-

20% on reducing balance

Computer equipment

-

33% on cost

All fixed assets are initially recorded at cost.

Investments in associates

Investments in associate undertakings are recognised at cost.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2024 - 10 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 December 2024

43,000

AMORTISATION

At 1 April 2024

31,450

Amortisation for period

3,225

At 31 December 2024

34,675

NET BOOK VALUE

At 31 December 2024

8,325

At 31 March 2024

11,550

6.	TANGIBLE FIXED ASSETS

Website

design

Office

Computer

costs

equipment

Totals

£

COST

At 1 April 2024

and 31 December 2024

7,834

1,120

38,802

47,756

DEPRECIATION

At 1 April 2024

1,567

884

33,595

36,046

Charge for period

881

27

1,758

2,666

At 31 December 2024

2,448

911

35,353

38,712

NET BOOK VALUE

At 31 December 2024

5,386

209

3,449

9,044

At 31 March 2024

6,267

236

5,207

11,710

7.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2024

and 31 December 2024

50

NET BOOK VALUE

At 31 December 2024

50

At 31 March 2024

50

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

£

Trade debtors

110,346

63,583

Other debtors

660

80

Prepayments and accrued income

138,368

87,122

249,374

150,785

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

£

Bank loans and overdrafts

10,000

10,833

Trade creditors

138,552

35,660

Corporation tax

5,704

717

PAYE and social security

41,642

22,596

VAT

37,114

39,899

Other creditors

977

1,525

Directors' current accounts

33,101

7,433

Accruals and deferred income

88,621

184,312

355,711

302,975

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

£

Bank loans - 1-2 years

5,000

10,000

Bank loans - 2-5 years

-

2,529

5,000

12,529

11.	PROVISIONS FOR LIABILITIES

2024

£

Deferred tax

Accelerated capital allowances

1,718

2,225

Tax losses carried forward

-

(1,132

)

1,718

1,093

Deferred

tax

£

Balance at 1 April 2024

1,093

Provided during period

625

Balance at 31 December 2024

1,718

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

value:

£

2

Ordinary

£1

2