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Registration number: 13362256

IDAA Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

IDAA Group Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

IDAA Group Limited

(Registration number: 13362256)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

11,250

15,000

Investments

5

200

200

 

11,450

15,200

Current assets

 

Debtors

6

21,065

20,847

Cash at bank and in hand

 

17

17

 

21,082

20,864

Creditors: Amounts falling due within one year

7

(12,276)

(11,095)

Net current assets

 

8,806

9,769

Total assets less current liabilities

 

20,256

24,969

Provisions for liabilities

(2,138)

(2,850)

Net assets

 

18,118

22,119

Capital and reserves

 

Called up share capital

100

100

Retained earnings

18,018

22,019

Shareholders' funds

 

18,118

22,119

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 November 2023
 

 

IDAA Group Limited

(Registration number: 13362256)
Balance Sheet as at 31 May 2023

.........................................
Mrs A Francis
Director

 

IDAA Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ

These financial statements were authorised for issue by the director on 22 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

IDAA Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% per annum on a reducing balance basis

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

IDAA Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

IDAA Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

20,000

20,000

At 31 May 2023

20,000

20,000

Depreciation

At 1 June 2022

5,000

5,000

Charge for the year

3,750

3,750

At 31 May 2023

8,750

8,750

Carrying amount

At 31 May 2023

11,250

11,250

At 31 May 2022

15,000

15,000

5

Investments

2023
£

2022
£

Investments in subsidiaries

200

200

Subsidiaries

£

Cost or valuation

At 1 June 2022

200

Provision

Carrying amount

At 31 May 2023

200

At 31 May 2022

200

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

IDAA Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Charrrge Limited

England

Ordinary

100%

100%

Sequential Dynamics Limited

England

Ordinary

100%

100%

Subsidiary undertakings

Charrrge Limited

The principal activity of Charrrge Limited is Electrical and mechanical engineering.

Sequential Dynamics Limited

The principal activity of Sequential Dynamics Limited is Electrical and mechanical engineering.

6

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

8

20,387

20,387

Other debtors

 

613

400

Prepayments

 

65

60

 

21,065

20,847

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

3,677

2,401

Amounts owed to related parties

8

2,978

3,002

Income tax liability

 

5,066

4,717

Other creditors

 

100

100

Accrued expenses

 

455

875

 

12,276

11,095

 

IDAA Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

8

Related party transactions

Loans to related parties

2023

Subsidiary
£

Total
£

At start of period

20,837

20,837

At end of period

20,837

20,837

2022

Subsidiary
£

Total
£

Advanced

20,837

20,837

At end of period

20,837

20,837

Terms of loans to related parties

There are no repayment terms and interest is not charged on the balance.
 

Loans from related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

24

24

Impairment

(24)

(24)

At end of period

-

-

2022

Entities with joint control or significant influence
£

Total
£

Advanced

24

24

At end of period

24

24

Terms of loans from related parties

There are no repayment terms and interest is not charged on the balance.