Ikara Consulting Limited 12286469 false 2022-11-01 2024-03-31 2024-03-31 The principal activity of the company is Consultancy Digita Accounts Production Advanced 6.30.9574.0 true 12286469 2022-11-01 2024-03-31 12286469 2024-03-31 12286469 bus:OrdinaryShareClass1 2024-03-31 12286469 core:CurrentFinancialInstruments 2024-03-31 12286469 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12286469 bus:SmallEntities 2022-11-01 2024-03-31 12286469 bus:AuditExemptWithAccountantsReport 2022-11-01 2024-03-31 12286469 bus:FullAccounts 2022-11-01 2024-03-31 12286469 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2024-03-31 12286469 bus:RegisteredOffice 2022-11-01 2024-03-31 12286469 bus:Director1 2022-11-01 2024-03-31 12286469 bus:OrdinaryShareClass1 2022-11-01 2024-03-31 12286469 bus:PrivateLimitedCompanyLtd 2022-11-01 2024-03-31 12286469 core:ComputerEquipment 2022-11-01 2024-03-31 12286469 countries:England 2022-11-01 2024-03-31 12286469 2021-11-01 2022-10-31 12286469 2022-10-31 12286469 bus:OrdinaryShareClass1 2022-10-31 12286469 core:CurrentFinancialInstruments 2022-10-31 12286469 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12286469

Ikara Consulting Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 November 2022 to 31 March 2024

 

Ikara Consulting Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Ikara Consulting Limited

Company Information

Director

Mr Russell Jeremy Elliott

Registered office

Walker House
Market Place
Somerton
Somerset
TA11 7LZ

Accountants

Blue Lias Accounting Ltd
Corporate Financial Accountants
Walker House
Market Place
Somerton
Somerset
TA11 7LX

 

Ikara Consulting Limited

(Registration number: 12286469)
Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Current assets

 

Debtors

5

-

14,984

Creditors: Amounts falling due within one year

6

(7,471)

(13,936)

Net (liabilities)/assets

 

(7,471)

1,048

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(7,571)

948

Shareholders' (deficit)/funds

 

(7,471)

1,048

For the financial period ending 31 March 2024 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 period in question in accordance with section 476; and

The director acknowledges his 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 9 April 2024
 

.........................................
Mr Russell Jeremy Elliott
Director

   
     
 

Ikara Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 March 2024

1

General information

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

The address of its registered office is:
Walker House
Market Place
Somerton
Somerset
TA11 7LZ
England

These financial statements were authorised for issue by the director on 9 April 2024.

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.

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 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.

 

Ikara Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 March 2024

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

Office Equipment

4 YRS SL

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.

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.

 

Ikara Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

 

Ikara Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 March 2024

4

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 31 March 2024

5

Debtors

Current

2024
£

2022
£

Trade debtors

-

14,984

6

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Due within one year

Taxation and social security

-

13,936

Other creditors

7,471

-

7,471

13,936

7

Share capital

Allotted, called up and fully paid shares

 

2024

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Dividends

   

2024

 

2022

   

£

 

£

         

9

Related party transactions

 

Ikara Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 March 2024

Director's remuneration

The director's remuneration for the period was as follows:

2024
£

2022
£

Remuneration

-

7,000

Contributions paid to money purchase schemes

-

4,000

-

11,000