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Registered Number: 07565974


 

 

 

ILEY TECHNOLOGY LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Directors John Cavanagh
Pauline Cavanagh
Registered Number 07565974
Registered Office 9 Kiln Croft
Skelsmergh
Kendal
Cumbria
LA9 6NE
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 March 2023.
Principal activities
Principal activity of the company during the financial year was of security services.
Directors
The directors who served the company throughout the year were as follows:
John Cavanagh
Pauline Cavanagh

This report was approved by the board and signed on its behalf by:


----------------------------------
John Cavanagh
Director

Date approved: 18 October 2023
2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Iley Technology Ltd for the year ended year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.


As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Iley Technology Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Iley Technology Ltd and state those matters that we have agreed to state to the director of Iley Technology Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Iley Technology Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Iley Technology Ltd. You consider that Iley Technology Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Iley Technology Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.



....................................................
Melanie Curtis Accountants Ltd
100 Berskhire Place
Winnersh Wokingham
RG41 5RD
18 October 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3   510 
  510 
Current assets      
Debtors 4 4,238    6,668 
Cash at bank and in hand 82,317    101,642 
86,555    108,310 
Creditors: amount falling due within one year 5 (7,035)   (10,283)
Net current assets 79,520    98,027 
 
Total assets less current liabilities 79,520    98,537 
Provisions for liabilities 6 157    94 
Net assets 79,677    98,631 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 79,577    98,531 
Shareholder's funds 79,677    98,631 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 October 2023 and were signed on its behalf by:


-------------------------------
John Cavanagh
Director
4
General Information
Iley Technology Ltd is a private company, limited by shares, registered in , registration number 07565974, registration address 9 Kiln Croft , Skelsmergh, Kendal, Cumbria, LA9 6NE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102.1A The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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
Turnover represents net sales of services, excluding value added tax, as adjusted for work in progress. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for the services rendered to its customer.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 3 years Straight Line
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 April 2022 3,841    3,841 
Additions  
Disposals  
At 31 March 2023 3,841    3,841 
Depreciation
At 01 April 2022 3,331    3,331 
Charge for year 510    510 
On disposals  
At 31 March 2023 3,841    3,841 
Net book values
Closing balance as at 31 March 2023  
Opening balance as at 01 April 2022 510    510 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 4,020    6,450 
Prepayments & Accrued Income 218    218 
4,238    6,668 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
PAYE & Social Security 3,814    7,561 
Accrued Expenses 1,899    1,830 
Directors' Current Accounts 1,322    892 
7,035    10,283 

6.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax (157)   (94)
(157)   (94)

5