IZ ENERGY SERVICES LTD


Director	IRFAN, Muhammad


Registered Address	Unit 2 & 3 Muirhead Quays
	Fresh Wharf Estate
	Barking
	IG11 7BG


Registered Number	08801107 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		23,138		23,138
Tangible assets	4		417,451		274,500
			440,589		297,638
Current assets
Stocks	5	1,800,524		1,397,441
Debtors	6	3,325,120		1,634,210
Cash at bank and on hand		49,283		31,931
		5,174,927		3,063,582
Creditors amounts falling due within one year	7	(4,388,291)		(2,341,344)
Net current assets (liabilities)			786,636		722,238
Total assets less current liabilities			1,227,225		1,019,876
Creditors amounts falling due after one year	8		(283,340)		(269,812)
Net assets			943,885		750,064
Capital and reserves
Called up share capital			100		100
Profit and loss account			943,785		749,964
Shareholders' funds			943,885		750,064

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 31 December 2025, and are signed on its behalf by:

IRFAN, Muhammad
Director
Registered Company No. 08801107

IZ ENERGY SERVICES LTD

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Land and buildings	10
	Plant and machinery	4
	Fixtures and fittings	4
	Vehicles	4
	Office Equipment	3

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	59		50

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 24	23,138	23,138
At 31 December 24	23,138	23,138
Net book value
At 31 December 24	23,138	23,138
At 31 December 23	23,138	23,138

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 January 24	126,122	58,778	218,334	61,181	33,654	498,069
Additions	-	11,500	221,345	26,402	21,751	280,998
Disposals	-	-	(46,300)	(1,478)	(7,638)	(55,416)
At 31 December 24	126,122	70,278	393,379	86,105	47,767	723,651
Depreciation and impairment
At 01 January 24	19,019	14,694	148,990	18,488	22,378	223,569
Charge for year	12,612	23,480	50,595	25,468	14,317	126,472
On disposals	-	-	(34,725)	(1,478)	(7,638)	(43,841)
At 31 December 24	31,631	38,174	164,860	42,478	29,057	306,200
Net book value
At 31 December 24	94,491	32,104	228,519	43,627	18,710	417,451
At 31 December 23	107,103	44,084	69,344	42,693	11,276	274,500

5.	Stocks

	2024	2023
	£	£
Work in progress	1,800,524	1,397,441
Total	1,800,524	1,397,441

6.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	1,060,819	93,723
Other debtors	747,631	401,895
Prepayments and accrued income	1,516,670	1,138,592
Total	3,325,120	1,634,210

7.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	2,693,166	1,288,601
Bank borrowings and overdrafts	679,891	354,998
Taxation and social security	636,846	544,546
Finance lease and HP contracts	75,997	24,410
Other creditors	291,992	118,389
Accrued liabilities and deferred income	10,399	10,400
Total	4,388,291	2,341,344

8.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	126,967	254,121
Other creditors	156,373	15,691
Total	283,340	269,812

9.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	232,370		40,101