IDFM (CITY) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06073612 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

IDFM (CITY) Ltd

T/A

IDFM

(City)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Curtis

SECRETARY:

Ms C Curtis

REGISTERED OFFICE:

4 Cedar Court

1 Royal Oak

Bermondsey Street

London

SE1 3GA

REGISTERED NUMBER:

06073612 (England and Wales)

ACCOUNTANTS:

ElanTax.com

Unit 3 Cedar Court

1 Royal Oak Yard

London

SE1 3GA

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

3,663

3,106

3,663

3,106

CURRENT ASSETS

Debtors

6

6,375

6,375

Cash at bank and in hand

328,685

217,703

335,060

224,078

CREDITORS

Amounts falling due within one year

7

59,735

47,412

NET CURRENT ASSETS

275,325

176,666

TOTAL ASSETS LESS CURRENT LIABILITIES

278,988

179,772

PROVISIONS FOR LIABILITIES

696

590

NET ASSETS

278,292

179,182

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

278,192

179,082

SHAREHOLDERS' FUNDS

278,292

179,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 December 2022 and were signed by:

P Curtis - Director

1.	STATUTORY INFORMATION

IDFM (CITY) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

150,000

AMORTISATION

At 1 April 2021

and 31 March 2022

150,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2021

31,387

Additions

1,778

At 31 March 2022

33,165

DEPRECIATION

At 1 April 2021

28,281

Charge for year

1,221

At 31 March 2022

29,502

NET BOOK VALUE

At 31 March 2022

3,663

At 31 March 2021

3,106

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Other debtors

6,375

6,375

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

282

355

Taxation and social security

53,031

44,636

Other creditors

6,422

2,421

59,735

47,412