Registration number:
IR-Entertainment Ltd
for the Year Ended 28 February 2026
IR-Entertainment Ltd
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
IR-Entertainment Ltd
(Registration number: 06821592)
Balance Sheet as at 28 February 2026
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2026 |
2025 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Provisions for liabilities |
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- |
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Net assets/(liabilities) |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Retained earnings |
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Shareholders' funds/(deficit) |
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For the financial year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
IR-Entertainment Ltd
(Registration number: 06821592)
Balance Sheet as at 28 February 2026
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IR-Entertainment Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Changes in accounting estimate
Depreciation
The depreciation rate for plant and machinery has decreased from 25% reducing balance to 10% reducing balance.
During the year the directors reviewed the expected useful economic lives and residual values of the companies fixed assets. Following this review the estimated useful lives of plant and machinery has been revised. Depreciation is therefore calculated over the updated useful economic lives.
The effect of the change on assets, liabilities, income and expense in the current year is as follows:
£ | |
Plant and machinery depreciation charge | 62,755 |
Plant and machinery depreciation expense | (62,755) |
IR-Entertainment Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates
taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in
the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be
recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Plant and machinery is carried at fair value, derived from the current market prices for comparable assets. The valuers use market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in other comprehensive income.
IR-Entertainment Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Land & buildings |
10% on cost |
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Plant & machinery |
10% on reducing balance |
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Motor vehicles |
25% on reducing balance |
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Fixtures & fittings |
25% on reducing balance |
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Computer equipment |
25% on reducing balance |
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Trademarks |
10% on cost |
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Other intangible assets |
10% on cost |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
IR-Entertainment Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
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Intangible assets |
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Trademarks, patents and licenses |
Other intangible assets |
Total |
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Cost or valuation |
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At 1 March 2025 |
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At 28 February 2026 |
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Amortisation |
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At 1 March 2025 |
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Amortisation charge |
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At 28 February 2026 |
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Carrying amount |
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At 28 February 2026 |
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At 28 February 2025 |
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IR-Entertainment Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 March 2025 |
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Revaluations |
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Additions |
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At 28 February 2026 |
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Depreciation |
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At 1 March 2025 |
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Charge for the year |
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At 28 February 2026 |
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Carrying amount |
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At 28 February 2026 |
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At 28 February 2025 |
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There has been no valuation of other intangible assets by an independent valuer.
IR-Entertainment Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
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Debtors |
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Current |
2026 |
2025 |
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Trade debtors |
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Other debtors |
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IR-Entertainment Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
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Creditors |
Creditors: amounts falling due within one year
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Note |
2026 |
2025 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Current loans and borrowings
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2026 |
2025 |
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Bank borrowings |
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Bank overdrafts |
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Creditors: amounts falling due after more than one year
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Note |
2026 |
2025 |
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Due after one year |
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Loans and borrowings |
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Other financial liabilities |
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Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
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Revaluation reserve |
Retained earnings |
Total |
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Surplus/deficit on property, plant and equipment revaluation |
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IR-Entertainment Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
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Loans and borrowings |
Non-current loans and borrowings
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2026 |
2025 |
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Bank borrowings |
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Other borrowings |
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- |
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Current loans and borrowings
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2026 |
2025 |
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Bank borrowings |
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Bank overdrafts |
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