Registered number
10673164
IDA-TRONIC LTD
Filleted Accounts
31 March 2024
IDA-TRONIC LTD
Registered number: 10673164
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,354 3,905
Current assets
Stocks 83,302 69,847
Debtors 4 238 80,298
Cash at bank and in hand 99,944 65,259
183,484 215,404
Creditors: amounts falling due within one year 5 (16,132) (38,987)
Net current assets 167,352 176,417
Net assets 170,706 180,322
Capital and reserves
Called up share capital 10 10
Profit and loss account 170,696 180,312
Shareholder's funds 170,706 180,322
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Hodgkinson
Director
Approved by the board on 16 April 2024
IDA-TRONIC LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment
£
Cost
At 1 April 2023 7,964
Additions 287
At 31 March 2024 8,251
Depreciation
At 1 April 2023 4,059
Charge for the year 838
At 31 March 2024 4,897
Net book value
At 31 March 2024 3,354
At 31 March 2023 3,905
4 Debtors 2024 2023
£ £
Trade debtors - 66,205
Other debtors 238 14,093
238 80,298
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 8,940 32,046
Other creditors 7,192 6,941
16,132 38,987
6 Other information
IDA-TRONIC LTD is a private company limited by shares and incorporated in England. Its registered office is:
43 Fisherton Street
Salisbury
Wiltshire
SP2 7SU
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