IWC Actuarial Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

IWC Actuarial Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07981250 . The registered office is RSM Tenon, 66 Chiltern Street, London, W1U 4JT.

The presentation currency is £ Sterling.

The level of rounding is to the nearest £.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover 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.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	33.33% Straight Line
Fixtures & Fittings	25% Straight Line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Financial Instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

...CONTINUED

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IWC Actuarial Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.5. Financial Instruments - continued

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Provisions

Provisions are recognised when the company has an obligation at the reporting date 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 6)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 October 2024	3,637	12,263	15,900
Additions	-	1,166	1,166

As at 30 September 2025	3,637	13,429	17,066

Depreciation
As at 1 October 2024	2,040	6,797	8,837
Provided during the period	833	2,221	3,054

As at 30 September 2025	2,873	9,018	11,891

...CONTINUED

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IWC Actuarial Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

Net Book Value
As at 30 September 2025	764	4,411	5,175

As at 1 October 2024	1,597	5,466	7,063

5. Stocks

	2025	2024
	£	£
Work in progress	40,000	39,840

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	88,265	91,809
Other debtors	26,834	55,127

	115,099	146,936

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other creditors	58,919	48,064
Taxation and social security	111,839	113,240

	170,758	161,304

8. Provisions for Liabilities


	Deferred Tax	Other Provisions	Total
	£	£	£
As at 1 October 2024	1,766	17,550	19,316
Reversals	(472 )	(7,550 )	(8,022)

Balance at 30 September 2025	1,294	10,000	11,294

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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IWC Actuarial Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 October 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 September 2025
	£	£	£	£	£
Mr Ian William Conlon	27,563	105,742	(131,911 )	-	1,395

The above loan is unsecured, interest is payable at 3.75% and the balance is repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		5,175		7,063

			5,175		7,063
CURRENT ASSETS
Stocks	5	40,000		39,840
Debtors	6	115,099		146,936
Cash at bank and in hand		75,642		39,076

		230,741		225,852
Creditors: Amounts Falling Due Within One Year	7	(170,758 )		(161,304 )

NET CURRENT ASSETS (LIABILITIES)			59,983		64,548

TOTAL ASSETS LESS CURRENT LIABILITIES			65,158		71,611

PROVISIONS FOR LIABILITIES
Provisions For Charges	8		(10,000 )		(17,550 )
Deferred Taxation			(1,294 )		(1,766 )

NET ASSETS			53,864		52,295

CAPITAL AND RESERVES
Called up share capital	9		100		100
Share premium account			49,951		49,951
Profit and Loss Account			3,813		2,244

SHAREHOLDERS' FUNDS			53,864		52,295