Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30true2022-07-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13477804 2022-07-01 2023-06-30 13477804 2021-06-25 2022-06-30 13477804 2023-06-30 13477804 2022-06-30 13477804 c:Director1 2022-07-01 2023-06-30 13477804 d:ComputerEquipment 2022-07-01 2023-06-30 13477804 d:ComputerEquipment 2023-06-30 13477804 d:ComputerEquipment 2022-06-30 13477804 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 13477804 d:CurrentFinancialInstruments 2023-06-30 13477804 d:CurrentFinancialInstruments 2022-06-30 13477804 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 13477804 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 13477804 d:ShareCapital 2023-06-30 13477804 d:ShareCapital 2022-06-30 13477804 d:RetainedEarningsAccumulatedLosses 2023-06-30 13477804 d:RetainedEarningsAccumulatedLosses 2022-06-30 13477804 c:OrdinaryShareClass1 2022-07-01 2023-06-30 13477804 c:OrdinaryShareClass1 2023-06-30 13477804 c:OrdinaryShareClass1 2022-06-30 13477804 c:FRS102 2022-07-01 2023-06-30 13477804 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 13477804 c:FullAccounts 2022-07-01 2023-06-30 13477804 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 13477804 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 13477804












IQON CAPITAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

 

IQON CAPITAL LIMITED

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 7



 
REGISTERED NUMBER:13477804
IQON CAPITAL LIMITED

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,453
-

Current assets
  

Debtors: amounts falling due within one year
 5 
500
500

Cash at bank and in hand
  
346,862
-

  
347,362
500

Creditors: amounts falling due within one year
 6 
(318,020)
(4,673)

Net current assets/(liabilities)
  
 
 
29,342
 
 
(4,173)

Total assets less current liabilities
  
30,795
(4,173)

  

Net assets/(liabilities)
  
30,795
(4,173)


Capital and reserves
  

Called up share capital 
 7 
1,000
1,000

Profit and loss account
  
29,795
(5,173)

Total equity/(Net deficit)
  
30,795
(4,173)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


G Gregoratti
Director

Date: 7 March 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 

IQON CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

IQON Capital Limited is a private company limited by shares incorporated in England and Wales. Its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH. 
The comparative information is for the period 25 June 2021 to 30 June 2022.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 

IQON CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.4

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including other debtors, cash and bank balances and intercompany balances, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, 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 payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 3

 

IQON CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)




Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Page 4

 

IQON CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Computer equipment
-
3
years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

  
2.8

Share capital

Ordinary shares are classified as equity. .


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 

IQON CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Computer equipment

£



Cost 


Additions
1,669



At 30 June 2023

1,669



Depreciation


Charge for the year
216



At 30 June 2023

216



Net book value



At 30 June 2023
1,453



At 30 June 2022
-


5.


Debtors

2023
2022
£
£


Amounts owed by related parties
500
500



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
190
1,573

Corporation tax
6,950
-

Other taxation and social security
288,529
-

Other creditors
18,851
400

Accruals and deferred income
3,500
2,700

318,020
4,673


Page 6

 

IQON CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



8.


Related party transactions

At the balance sheet date the company owed £13,129 (2022: £400) to the directors and was owed £500 (2022: £500) by a connected company. These amounts are unsecured, interest free and due for repayment within one year.

 
Page 7