Silverfin false 31/03/2023 01/04/2022 31/03/2023 C Gobel 30/03/2005 J Parkinson 27/04/2023 24 November 2023 The principal activity of the company is that of business management services. 05408045 2023-03-31 05408045 bus:Director1 2023-03-31 05408045 bus:Director2 2023-03-31 05408045 2022-03-31 05408045 core:CurrentFinancialInstruments 2023-03-31 05408045 core:CurrentFinancialInstruments 2022-03-31 05408045 core:Non-currentFinancialInstruments 2023-03-31 05408045 core:Non-currentFinancialInstruments 2022-03-31 05408045 core:ShareCapital 2023-03-31 05408045 core:ShareCapital 2022-03-31 05408045 core:RetainedEarningsAccumulatedLosses 2023-03-31 05408045 core:RetainedEarningsAccumulatedLosses 2022-03-31 05408045 core:OtherPropertyPlantEquipment 2022-03-31 05408045 core:OtherPropertyPlantEquipment 2023-03-31 05408045 2022-04-01 2023-03-31 05408045 bus:FullAccounts 2022-04-01 2023-03-31 05408045 bus:SmallEntities 2022-04-01 2023-03-31 05408045 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05408045 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05408045 bus:Director1 2022-04-01 2023-03-31 05408045 bus:Director2 2022-04-01 2023-03-31 05408045 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 05408045 2021-04-01 2022-03-31 05408045 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 05408045 (England and Wales)

IHURU LTD

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

IHURU LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

IHURU LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
IHURU LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,187 1,679
3,187 1,679
Current assets
Debtors 4 1,720 19,195
Cash at bank and in hand 11,370 731
13,090 19,926
Creditors: amounts falling due within one year 5 ( 10,889) ( 8,993)
Net current assets 2,201 10,933
Total assets less current liabilities 5,388 12,612
Creditors: amounts falling due after more than one year 6 ( 8,224) ( 11,616)
Net (liabilities)/assets ( 2,836) 996
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account ( 3,836 ) ( 4 )
Total shareholder's (deficit)/funds ( 2,836) 996

For the financial year ending 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:

The financial statements of Ihuru Ltd (registered number: 05408045) were approved and authorised for issue by the Director. They were signed on its behalf by:

C Gobel
Director

24 November 2023

IHURU LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
IHURU LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ihuru Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Apartment 504 The Beaux Arts Building, 10-18 Manor Gardens, London, N7 6JS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 4,750 4,750
Additions 3,355 3,355
At 31 March 2023 8,105 8,105
Accumulated depreciation
At 01 April 2022 3,071 3,071
Charge for the financial year 1,847 1,847
At 31 March 2023 4,918 4,918
Net book value
At 31 March 2023 3,187 3,187
At 31 March 2022 1,679 1,679

4. Debtors

2023 2022
£ £
Corporation tax 1,489 0
Other debtors 231 19,195
1,720 19,195

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 3,391 3,390
Taxation and social security 0 3,728
Other creditors 7,498 1,875
10,889 8,993

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 8,224 11,616