IFA Investment Products Ltd - Accounts to registrar (filleted) - small 18.2
IFA Investment Products Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 April 2020 |
| for |
| IFA INVESTMENT PRODUCTS LTD |
| IFA INVESTMENT PRODUCTS LTD (REGISTERED NUMBER: 07587391) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| IFA INVESTMENT PRODUCTS LTD |
| Company Information |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Third Floor |
| 126-134 Baker Street |
| London |
| W1U 6UE |
| IFA INVESTMENT PRODUCTS LTD (REGISTERED NUMBER: 07587391) |
| Balance Sheet |
| 30 APRIL 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | 8 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were authorised for issue by the director and authorised for issue on |
| IFA INVESTMENT PRODUCTS LTD (REGISTERED NUMBER: 07587391) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| 1. | STATUTORY INFORMATION |
| IFA Investment Products Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the invoiced value of services, net of value added tax. Revenue is recognised when delivery of services is accepted by the customers. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Going concern |
| The financial statements have been prepared on a going concern basis, notwithstanding the fact that the company has a net deficit on the balance sheet. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| IFA INVESTMENT PRODUCTS LTD (REGISTERED NUMBER: 07587391) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 May 2019 |
| Additions |
| At 30 April 2020 |
| DEPRECIATION |
| At 1 May 2019 |
| Charge for year |
| At 30 April 2020 |
| NET BOOK VALUE |
| At 30 April 2020 |
| At 30 April 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Tax |
| VAT | 5,755 | 5,755 |
| Related party loan | 15,996 | 15,996 |
| Directors' current accounts | 106 | 1,538 |
| Accrued expenses |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| IFA INVESTMENT PRODUCTS LTD (REGISTERED NUMBER: 07587391) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| 8. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 May 2019 | ( |
) |
| Profit for the year |
| Dividends | ( |
) |
| At 30 April 2020 | ( |
) |
| 9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| At the balance sheet date, the company owed £107 (2019: £1,538 ) to Mr. V. Patel, a company director. |
| This loan is non-interest bearing and payable on demand. |
| 10. | RELATED PARTY DISCLOSURES |
| Included within the other creditors is an amount of £15,996 (2019: £15,996) owed to Sport Convo Ltd, a company related by virtue of common control. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is V Patel. |