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Registered Number: 14100782
England and Wales

 

 

 

IDEO CONCEPTS (UK) LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 11 May 2022

End date: 30 June 2023
Director Lap Chuen Terence Kwan
Registered Number 14100782
Registered Office 18 Ensign Street
London
E1 8PA
Accountants P and Co (Partners) LLP
18 Ensign Street
London
E1 8PA
1
Director's report and financial statements
The director presents annual report and the financial statements for the period ended 30 June 2023.

Incorporation and principal activities
The company was incorporated on 11th May 2022 in England and Wales.  The principal activity of the company during the financial period was that of business and domestic software development. 

Director
The director who served the company throughout the period was as follows:

Lap Chuen Terence Kwan
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Lap Chuen Terence Kwan
Director

Date approved: 05 February 2024
2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IDEO CONCEPTS (UK) LTD for the period ended 30 June 2023 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of IDEO CONCEPTS (UK) LTD, as a body, in accordance with the terms of our engagement letter dated 11 May 2023. Our work has been undertaken solely to prepare for your approval the financial statements of IDEO CONCEPTS (UK) LTD and state those matters that we have agreed to state to the Board of Directors of IDEO CONCEPTS (UK) LTD, as a body, in this report in accordance with AAF 2/10 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IDEO CONCEPTS (UK) LTD and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that IDEO CONCEPTS (UK) LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of IDEO CONCEPTS (UK) LTD. You consider that IDEO CONCEPTS (UK) LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of IDEO CONCEPTS (UK) LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.



....................................................
P and Co (Partners) LLP
18 Ensign Street
London
E1 8PA
06 February 2024
3
 
 
Notes
 
2023
£
Current assets    
Debtors 3 6,075 
Cash at bank and in hand 24,362 
30,437 
Creditors: amount falling due within one year 4 (18,336)
Net current assets 12,101 
 
Total assets less current liabilities 12,101 
Accruals and deferred income (1,222)
Net assets 10,879 
 

Capital and reserves
   
Called up share capital 5 5,000 
Profit and loss account 5,879 
Shareholder's funds 10,879 
 


For the period ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 05 February 2024 and were signed by:


-------------------------------
Lap Chuen Terence Kwan
Director
4
  Equity share capital   Revaluation reserve   Capital redemption reserve   Retained Earnings   Total
£ £ £ £ £
At 11 May 2022
Profit for the period 14,379  14,379 
Total comprehensive income for the period 14,379  14,379 
Dividends (8,500) (8,500)
Shares issued 5,000  5,000 
Total investments by and distributions to owners 5,000  (8,500) (3,500)
At 30 June 2023 5,000  5,879  10,879 
5
General Information
IDEO CONCEPTS (UK) LTD is a private company, limited by shares, registered in England and Wales, registration number 14100782, registration address 18 Ensign Street, London, E1 8PA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
2.

Average number of employees


Average number of employees during the period was 1.
3.

Debtors: amounts falling due within one year

2023
£
Other Debtors 6,075 
6,075 

4.

Creditors: amount falling due within one year

2023
£
Taxation and Social Security 3,431 
Other Creditors 14,905 
18,336 

5.

Share Capital

Allotted, called up and fully paid
2023
£
5,000 shares of £1.00 each 5,000 
5,000 

6