Company Registration No. 11394982 (England and Wales)
IW MEDIA FORCE LIMITED
Unaudited accounts
for the year ended 31 March 2023
IW MEDIA FORCE LIMITED
Unaudited accounts
Contents
IW MEDIA FORCE LIMITED
Company Information
for the year ended 31 March 2023
Company Number
11394982 (England and Wales)
Registered Office
1A LAKE INDUSTRIAL WAY,SANDOWN
LAKE INDUSTRIAL WAY
SANDOWN
PO36 9PL
ENGLAND
Accountants
Eleve11 Consulting Ltd T/A Cloud Eleven Accountants
Palamos House
66-67 High St
Lymington
Hampshire
SO41 9AL
IW MEDIA FORCE LIMITED
Statement of financial position
as at 31 March 2023
Tangible assets
10,336
14,975
Cash at bank and in hand
42,357
42,878
Creditors: amounts falling due within one year
(38,419)
(55,496)
Net current assets
10,506
13,573
Total assets less current liabilities
20,842
28,548
Creditors: amounts falling due after more than one year
(13,056)
(15,764)
Called up share capital
100
100
Profit and loss account
7,686
12,684
Shareholders' funds
7,786
12,784
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 September 2023 and were signed on its behalf by
Wayne Rose
Director
Company Registration No. 11394982
IW MEDIA FORCE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
IW MEDIA FORCE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11394982. The registered office is 1A LAKE INDUSTRIAL WAY,SANDOWN, LAKE INDUSTRIAL WAY, SANDOWN, PO36 9PL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
20% straight line
Fixtures & fittings
33.3% straight line
Computer equipment
50% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
IW MEDIA FORCE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2022
888
18,250
1,277
2,376
22,791
Additions
-
-
-
1,232
1,232
At 31 March 2023
888
18,250
1,277
3,608
24,023
At 1 April 2022
400
5,779
540
1,097
7,816
Charge for the year
178
3,650
425
1,618
5,871
At 31 March 2023
578
9,429
965
2,715
13,687
At 31 March 2023
310
8,821
312
893
10,336
At 31 March 2022
488
12,471
737
1,279
14,975
Amounts falling due within one year
Accrued income and prepayments
383
2,275
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
1,666
1,667
Obligations under finance leases and hire purchase contracts
1,458
2,917
Trade creditors
2,461
1,864
Taxes and social security
297
163
Other creditors
1,459
4,820
Loans from directors
28,206
37,561
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
2,501
3,542
8
Transactions with related parties
The director loan included within other creditors is unsecured, interest free and repayable on demand.
IW MEDIA FORCE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).