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Registration number: 07839112

Audentior Ito Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Audentior Ito Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 9

 

Audentior Ito Limited

Company Information

Director

Mrs D Sharma

Registered office

The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

Audentior Ito Limited

Director's Report for the Year Ended 31 March 2023

The director presents her report and the financial statements for the year ended 31 March 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr R K Joshi (resigned 16 September 2022)

Mrs D Sharma (appointed 16 September 2022)

Small companies provision statement

This report has 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.

Approved and authorised by the director on 30 November 2023
 

.........................................
Mrs D Sharma
Director

 

Audentior Ito Limited

(Registration number: 07839112)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Cash at bank and in hand

 

12,421

35,671

Creditors: Amounts falling due within one year

4

(82,075)

(23,354)

Total assets less current liabilities

 

(69,654)

12,317

Creditors: Amounts falling due after more than one year

4

-

(32,500)

Net liabilities

 

(69,654)

(20,183)

Capital and reserves

 

Allotted, called up and fully paid share capital

13,028

13,028

Profit and loss account

(82,682)

(33,211)

 

(69,654)

(20,183)

Total equity

 

(69,654)

(20,183)

 

Audentior Ito Limited

(Registration number: 07839112)
Balance Sheet as at 31 March 2023 (continued)

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.

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 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

Approved and authorised by the director on 30 November 2023
 

.........................................
Mrs D Sharma
Director

   
     
 

Audentior Ito Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 07839112.

The address of its registered office is:
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP
England

These financial statements were authorised for issue by the director on 30 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.

The presentation currency is £ sterling.

Going concern

The company ceased to trade on 31 May 2021 and is no longer a going concern as the companies assets exceed the creditors.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for goods sold and services provided. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

 

Audentior Ito Limited

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises 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.

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

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

Plant and machinery

20% reducing balance basis

Motor vehicles

25% reducing balance basis

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line basis

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

 

Audentior Ito Limited

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Property, plant and equipment acquired under hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

 

Audentior Ito Limited

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 2).

 

Audentior Ito Limited

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

4

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

31,689

10,000

Trade creditors

 

24,282

2,743

Taxation and social security

 

8,935

8,701

Accruals and deferred income

 

14,643

1,910

Other creditors

 

2,526

-

 

82,075

23,354

Creditors includes a bank loan which is secured of £31,689 (2022 - £10,000) by the government.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

-

32,500

 

-

32,500

Creditors includes a bank loan which is secured of £nil (2022 - £32,500) by the government.