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Registered number: 15926872
IFP GREEN TECHNOLOGY UK LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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IFP GREEN TECHNOLOGY UK LIMITED
CONTENTS
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Director's responsibilities statement
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Independent auditor's report
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Statement of profit or loss
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Statement of financial position
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Statement of changes in equity
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Notes to the financial statements
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IFP GREEN TECHNOLOGY UK LIMITED
COMPANY INFORMATION
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Blick Rothenberg Audit LLP
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Chartered Accountants & Statutory Auditor
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IFP GREEN TECHNOLOGY UK LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
The Director presents their strategic report for the period ended 31 December 2025.
IFP Green Technology UK Limited (the "Company") is incorporated in the United Kingdom (registered in England and Wales). The Company is a private limited company limited by shares.
IFP Green Technology UK Limited provides sales operation support to its parent company, IFP Green Technology Limited (incorporated in Hong Kong), to fulfill its global purchase commitments in the UK. IFP Green Technology Limited has subsidiary operations in the United States of America, Canada, the Netherlands, and Japan in addition to the UK.
Business review and key performance indicators
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The Company’s first period of operations has been satisfactory and it continues to support the needs of the wider group. Revenue for the period was £143.6m with a gross profit of £5.1m and gross profit margin of 3.6% reflecting the low-margin nature of the wholesale market. Administrative expenses incurred in the year to 31 December 2025 amounted to £5.0 million, which is 3.5% of revenue.
Profit before tax was £0.2 million, which aligns with the group’s low margin business model.
Net assets of the Company at 31 December 2025 were £0.2m, which is consistent with the results for the year. This comprises total assets of £32.0m, principally inventory of £15.1m and cash of £8.9m, less trade and other liabilities of £31.8m.
The Director believes that the key performance indicators that communicate the financial performance of the company as a whole, as well as its contribution to the wider IFP organisation and its global nature, include administrative expenses, operating profit, and employee headcount, as outlined in these financial statements.
Principal risks and uncertainties
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The Director identifies the following as the primary risks and uncertainties that the company faces. The Director actively manages these risks and ensures that appropriate policies are in place to mitigate them.
Market risk
The continued collaboration between the IFP group of companies is crucial for the success of the group and the Company itself. This collaboration ensures effective global distribution of products and significantly contributes towards the success of the whole group as well as the operations in the UK.
Regulatory and economic risk
Changes in regulatory environments, local political and economic conditions, fluctuations in foreign currency exchange rates, and changes to tariffs or other trade barriers pose significant risks.
Supplier risk
The Company sources its products from a single supplier and any interruption to this supply chain could impact on the Company's ability to meet customer demand and adversely affect financial performance. The Director closely monitors this risk and maintains regular engagement with the supplier to ensure sufficient inventory levels and continuity of supply. The Director considers the strength of the relationship with the supplier and ongoing trading performance to provide an appropriate level of mitigation against this risk.
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IFP GREEN TECHNOLOGY UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
The Director believes the Company is well positioned to support the continued expansion of the IFP group. In the coming year, the Company will focus on further developing its presence in the UK market, supporting growth in sales volumes and strengthening relationships with key customers.
Statement by the Director on performance of their statutory duties in accordance with s.172 (1) Companies Act 2006
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In accordance with Section 172 of the UK Companies Act 2006, the Director of IFP Green Technology UK Limited, (the "Company") act in good faith to promote the success of the Company for the benefit of its members as a whole.
As a wholly-owned subsidiary within a global corporate group, the Company’s strategic direction is closely aligned with its overseas parent company, IFP Green Technology Limited (the "Parent Group"). However, the Director retains independent responsibility for ensuring that local operations reflect the statutory duties set out in Section 172(1)(a) to (f).
The following section outlines how the Director has considered these stakeholders and broader statutory factors during the financial year.
a) The likely long-term consequences of their decisions
The Director’s decision-making process is rooted in the long-term viability of the circular economy. Rather than pursuing short-term trading margins, the Director focuses on building infrastructure that sustains long-term asset recovery and product life cycles.
b) The interests of the Company's employees
The Company does not employ any personnel directly within the United Kingdom. Operational management, logistics coordination, and administrative support are fulfilled by personnel employed by our overseas parent company or third-party service providers.
c) The need to foster the Company's business relationships with suppliers, customers and others
Our business model relies on robust, trusted relationships with a key upstream supply partner (who provides used electronics) and downstream buyers (who refurbish, reuse, or recycle them).
∙Upstream Supplier: The Board engages with an international premium electronic brand to provide a secure, compliant route for its surplus inventory. We build trust through a long term working relationship.
∙Downstream Customers: We work closely with international buyers, distributors, and refurbishment hubs. By maintaining strict quality grading guidelines for our used consumer electronics, the company ensures downstream partners receive reliable inventory that can be successfully reintegrated into consumer markets.
d) The impact of the Company’s operations on the community and environment
Environmental protection is not merely a compliance metric for the Company; it is our primary commercial driver. By trading exclusively in pre-owned consumer electronics, our entire operational purpose is to extend product lifespans and intercept functional technology before it reaches landfills.
e) The importance of maintaining a reputation for high standards of business conduct
Operating in the secondary electronics market requires absolute corporate transparency, particularly regarding data privacy, anti-counterfeiting, and environmental export compliance.
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IFP GREEN TECHNOLOGY UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
f) The need to act fairly between members of the Company
The Company is a wholly-owned subsidiary of its overseas parent entity. There are no minority shareholders or complex equity structures.
The Director maintains an open, continuous dialogue with the Parent Group’s executive management team.
This report was approved and signed by the sole Director.
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IFP GREEN TECHNOLOGY UK LIMITED
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
The Director presents his report and the financial statements for the period ended 31 December 2025.
The Company was incorporated on 30 August 2024 and commenced trading on that day. As such, these financial statements cover the first period of account from 30 August 2024 to 31 December 2025.
The profit for the period, after taxation, amounted to £153,499.
The Company did not pay any dividends during the period ended 31 December 2025.
The Director who served during the period was:
X Deng (appointed 30 August 2024)
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Research and development activities
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The Company has not undertaken any research activities in 2025.
Matters covered in the strategic report
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As permitted by s414c(11) of the Companies Act 2006, the director has elected to disclose information, required to be in the directors' report by Schedule 7 of the 'Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008', in the strategic report.
Disclosure of information to auditor
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The Director at the time when this Director's report is approved has confirmed that:
∙so far as he is aware, there is no relevant audit information of which the company's auditor is unaware, and
∙he has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved and signed by the sole director.
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IFP GREEN TECHNOLOGY UK LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 DECEMBER 2025
The Director is responsible for preparing the strategic report, Director's report and the financial statements, in accordance with applicable law.
Company law requires the Director to prepare financial statements for each financial year. Under that law he has elected to prepare the financial statements in accordance with UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006.
Under company law the Director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements, the Director is required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgments and estimates that are reasonable and prudent;
∙state whether they have been prepared in accordance with IFRS Accounting standards in conformity with the requirements of the Companies Act 2006, subject to any material departures disclosed and explained in the financial statements;
∙assess the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
∙use the going concern basis of accounting unless he either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
The Director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is responsible for such internal control as he determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and has general responsibility for taking such steps as are reasonably open to him to safeguard the assets of the company and to prevent and detect fraud and other irregularities.
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IFP GREEN TECHNOLOGY UK LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF IFP GREEN TECHNOLOGY UK LIMITED
We have audited the financial statements of iFP Green Technology UK Limited for the period ended 31 December 2025 which comprise the statement of profit or loss and other comprehensive income, the statement of financial position, the statement of cash flows, the statement of changes in equity and the related notes, including a summary of material accounting policies set out on pages 15 - 19. The financial reporting framework that has been applied in their preparation is applicable law and UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006.
In our opinion the financial statements:
∙give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the period then ended;
∙have been properly prepared in accordance with UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
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In auditing the financial statements, we have concluded that the use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Director with respect to going concern are described in the relevant sections of this report.
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IFP GREEN TECHNOLOGY UK LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF IFP GREEN TECHNOLOGY UK LIMITED (CONTINUED)
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the strategic report and the Director's report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the strategic report and the Director's report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the Director's report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the responsibilities statement on page 6, the Director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
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IFP GREEN TECHNOLOGY UK LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF IFP GREEN TECHNOLOGY UK LIMITED (CONTINUED)
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the company through discussions with management, and from our commercial knowledge and experience of the company's sector;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and employment legislation;
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙tested a sample of journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation; and
∙enquiring of management as to actual and potential litigation and claims.
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IFP GREEN TECHNOLOGY UK LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF IFP GREEN TECHNOLOGY UK LIMITED (CONTINUED)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Jaykishan Shah (senior statutory auditor)
for and on behalf of
Blick Rothenberg Audit LLP
Chartered Accountants
Statutory Auditor
16 Great Queen Street
Covent Garden
London
WC2B 5AH
28 August 2026
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IFP GREEN TECHNOLOGY UK LIMITED
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2025
Profit for the financial period
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The notes on pages 15 to 24 form part of these financial statements.
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IFP GREEN TECHNOLOGY UK LIMITED
REGISTERED NUMBER: 15926872
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Trade and other receivables
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Cash and cash equivalents
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Trade and other liabilities
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Issued capital and reserves
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The financial statements on pages 11 to 24 were approved and signed by the sole director.
The notes on pages 15 to 24 form part of these financial statements.
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IFP GREEN TECHNOLOGY UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Total comprehensive income for the period
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Total contributions by and distributions to owners
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The notes on pages 15 to 24 form part of these financial statements.
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IFP GREEN TECHNOLOGY UK LIMITED
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2025
Cash flows from operating activities
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Movements in working capital:
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Increase in trade and other receivables
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Increase in trade and other payables
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Cash generated from operations
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Cash flows from investing activities
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Net cash from investing activities
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Cash flows from financing activities
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Net cash from financing activities
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Net increase in cash and cash equivalents
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Cash and cash equivalents at the beginning of period
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Cash and cash equivalents at the end of the period
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The notes on pages 15 to 24 form part of these financial statements.
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IFP GREEN TECHNOLOGY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
iFP Green Technology UK Limited (the 'company') is a limited company registered and incorporated in England and Wales. The company's registered office is at 16 Great Queen Street, London, WC2B 5AH. The company's principal activity is the wholesale distribution of consumer electronics.
The financial statements are presented in Sterling (£), which is the company's functional currency.
2.Accounting policies
The financial statements have been prepared in accordance with International Financial Reporting Standards, International Accounting Standards and Interpretations as adopted by the UK (collectively IFRSs).
The preparation of financial statements in conformity with the UK-adopted International Accounting Standards requires the use of certain accounting estimates. It also requires management to exercise its judgement in the process of applying accounting policies. There are no areas involving a high degree of judgement or complexity.
At period-end, the net assets totalled £154,499, with cash of £8,870,112. The director has considered the impact of the sole supplier risk on going concern, as highlighted in the strategic report. Continued business and a strong working relationship with this supplier, alongside strong consumer demand and current and future expected positive cashflows mitigate this risk.
The director has reviewed the financial performance, position and cash flow forecasts and conclude that it will have sufficient resources to cover its operating costs and settle its obligations as they fall due.
The director is not aware of any material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern, covering a period of at least twelve months from the date of approval of the financial statements.
As such, the director concludes that it is appropriate to prepare the financial statements on a going concern basis.
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IFP GREEN TECHNOLOGY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The company is in the business of selling technology products.
Revenue from contracts with customers is recognised when control of the goods is transferred to the customer at an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods. The company has generally concluded that this is the principal it its revenue arrangements because it typically controls the goods before transferring them to the customer.
Revenue from the sale of technology products is recognised at the point in time when control of the asset is transferred to the customer.
The company considers whether there are other promises in the contract that are separate performance obligations to which a portion of the transaction price needs to be allocated. In determining the transaction price, the company considers the effect of variable consideration, existence of a significant financing component, noncash consideration and consideration payable to the customer (if any). The company elects the practical expedient to disregard the financing component because the transfer of goods and the related payment occur within a 12-month period.
Interest income is recognised in the profit or loss using the effective interest method.
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Foreign currency translation
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The company's functional and presentational currency is Sterling (£).
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit or loss.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within ‘administrative expenses’.
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IFP GREEN TECHNOLOGY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Inventories are stated at the lower of cost and net realisable value. Costs of inventories are determined on a weighted average basis. Net realisable value represents the estimated selling price for inventories less all estimated costs of completion and costs necessary to make the sale.
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Cash and cash equivalents
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Cash and cash equivalents comprise cash on hand and demand deposits.
Ordinary shares are classified as equity.
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IFP GREEN TECHNOLOGY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.
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 company after deducting all of its liabilities.
The company’s policies for its major classes of financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances and amounts owed by group undertakings are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors and amounts owed to group undertakings are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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IFP GREEN TECHNOLOGY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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IFP GREEN TECHNOLOGY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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The following is an analysis of the company's revenue for the period from continuing operations:
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Analysis of revenue by country of destination:
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Audit fees payable to the company's auditor
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Non-Audit fees payable to the company's auditor
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IFP GREEN TECHNOLOGY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Finance income and expense
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Recognised in profit or loss
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Other interest receivable
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6.1 Income tax recognised in profit or loss
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Current tax on profits for the period
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The reasons for the difference between the actual tax charge for the period and the standard rate of corporation tax in the United Kingdom applied to profits for the period are as follows:
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Income tax expense (including income tax on associate, joint venture and discontinued operations)
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Profit before income taxes
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Tax using the company's domestic tax rate of 25%
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IFP GREEN TECHNOLOGY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Finished goods and goods for resale
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Trade and other receivables
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Amounts owed by group undertakings
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Total current trade and other receivables
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Amounts due to group undertakings
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Total trade and other payables
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Total current trade and other payables
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IFP GREEN TECHNOLOGY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Ordinary shares of £1.00 each
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Ordinary shares of £1.00 each
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On 30 August 2024, the company issued 1,000 shares with nominal value of £1.00 at par to establish the capital base of the company.
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Related party transactions
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Details of transactions between the company and its related parties are disclosed below.
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11.1 Other related party transactions
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Other related party transactions are as follows:
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Related party relationship
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IFP Green Technology Limited (Hong Kong)
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IFP Green Technology (Netherlands) B.V.
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IFP Green Technology (US) Inc.
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IFP Green Technology (Canada) Limited
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Amounts owed by group undertakings and amounts due to group undertakings are unsecured, are interest free and are repayable on demand.
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IFP GREEN TECHNOLOGY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
The company's immediate parent company is IFP Green Technology Limited (Hong Kong), which is the smallest group for which consolidated financial statements are prepared. Their registered office is Room A2, 7/F, Block A, Hong Kong Industrial Centre, 489-491 Castle Peak Road, Kowloon, Hong Kong.
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