Company Registration No. 11394982 (England and Wales)
IW MEDIA FORCE LIMITED
Unaudited accounts
for the period from 1 July 2020 to 31 March 2021
IW MEDIA FORCE LIMITED
Unaudited accounts
Contents
IW MEDIA FORCE LIMITED
Company Information
for the period from 1 July 2020 to 31 March 2021
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 On The Spot
1 Lyteltane Rd
Lymington
Hampshire
SO41 3Pl
IW MEDIA FORCE LIMITED
Statement of financial position
as at
31 March 2021
Tangible assets
17,835
478
Cash at bank and in hand
31,088
14,877
Creditors: amounts falling due within one year
(57,090)
(45,588)
Net current assets/(liabilities)
1,517
(22,783)
Total assets less current liabilities
19,352
(22,305)
Creditors: amounts falling due after more than one year
(18,958)
-
Net assets/(liabilities)
394
(22,305)
Called up share capital
100
100
Profit and loss account
294
(22,405)
Shareholders' funds
394
(22,305)
For the period ending 31 March 2021 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 14 May 2021 and were signed on its behalf by
Wayne Rose
Director
Company Registration No. 11394982
IW MEDIA FORCE LIMITED
Notes to the Accounts
for the period from 1 July 2020 to 31 March 2021
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 period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
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.
IW MEDIA FORCE LIMITED
Notes to the Accounts
for the period from 1 July 2020 to 31 March 2021
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 July 2020
583
-
-
-
583
Additions
-
18,250
727
866
19,843
At 31 March 2021
583
18,250
727
866
20,426
At 1 July 2020
105
-
-
-
105
Charge for the period
117
2,129
144
96
2,486
At 31 March 2021
222
2,129
144
96
2,591
At 31 March 2021
361
16,121
583
770
17,835
At 30 June 2020
478
-
-
-
478
5
Debtors: amounts falling due within one year
2021
2020
Accrued income and prepayments
1,558
2,222
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
2,500
-
Obligations under finance leases and hire purchase contracts
2,500
-
Trade creditors
2,513
1,166
Taxes and social security
100
52
Other creditors
2,535
544
Loans from directors
37,766
43,207
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
6,458
-
IW MEDIA FORCE LIMITED
Notes to the Accounts
for the period from 1 July 2020 to 31 March 2021
9
Transactions with related parties
The director loan included within other creditors is unsecured, interest free and repayable on demand.
10
Average number of employees
During the period the average number of employees was 2 (2020: 2).