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REGISTERED NUMBER: 07678983 (England and Wales)















iSumo Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2023






iSumo Ltd (Registered number: 07678983)

Contents of the Financial Statements
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


iSumo Ltd

Company Information
for the year ended 31 July 2023







Directors: J L Keyser
S Hanley





Registered office: 20-22 Wenlock Road
London
N1 7GU





Registered number: 07678983 (England and Wales)





Accountants: Haines Watts
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

iSumo Ltd (Registered number: 07678983)

Balance Sheet
31 July 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 57,862 -
Tangible assets 5 48,480 26,876
106,342 26,876

Current assets
Debtors 6 128,723 79,966
Cash at bank 101,325 136,272
230,048 216,238
Creditors
Amounts falling due within one year 7 159,799 176,031
Net current assets 70,249 40,207
Total assets less current liabilities 176,591 67,083

Creditors
Amounts falling due after more than one
year

8

(66,743

)

(28,050

)

Provisions for liabilities (12,120 ) (5,106 )
Net assets 97,728 33,927

Capital and reserves
Called up share capital 9 100 100
Retained earnings 97,628 33,827
Shareholders' funds 97,728 33,927

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

iSumo Ltd (Registered number: 07678983)

Balance Sheet - continued
31 July 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:




J L Keyser - Director



S Hanley - Director


iSumo Ltd (Registered number: 07678983)

Notes to the Financial Statements
for the year ended 31 July 2023


1. Statutory information

iSumo 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
Turnover is measured at the fair value of the consideration received or receivable excluding value added tax.

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.

Computer software is being amortised evenly over its estimated useful life of two years.

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 - 25% on cost

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
These financial statements have been prepared on a going concern basis and they do not include any adjustments which may be necessary should the going concern basis of accounting no longer be appropriate..

iSumo Ltd (Registered number: 07678983)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


3. Employees and directors

The average number of employees during the year was 2 (2022 - 6 ) .

4. Intangible fixed assets
Computer
software
£
Cost
Additions 115,724
At 31 July 2023 115,724
Amortisation
Amortisation for year 57,862
At 31 July 2023 57,862
Net book value
At 31 July 2023 57,862

5. Tangible fixed assets
Plant and
machinery
£
Cost
At 1 August 2022 106,684
Additions 46,717
At 31 July 2023 153,401
Depreciation
At 1 August 2022 79,808
Charge for year 25,113
At 31 July 2023 104,921
Net book value
At 31 July 2023 48,480
At 31 July 2022 26,876

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 110,532 71,076
Other debtors 18,191 8,890
128,723 79,966

iSumo Ltd (Registered number: 07678983)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 86 53,537
Trade creditors 74,076 34,340
Taxation and social security 58,649 64,792
Other creditors 26,988 23,362
159,799 176,031

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Trade creditors 48,593 -
Other creditors 18,150 28,050
66,743 28,050

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
90 Ordinary share capital 1 90 90
10 Ordinary share capital A 1 10 10
100 100