Eikonika Limited
Unaudited Financial Statements
For the year ended 31 August 2023
Pages for Filing with Registrar
Company Registration No. 03092815 (England and Wales)
Eikonika Limited
Company Information
Director
J Bradshaw
Company number
03092815
Registered office
Bakers Cottage
Ickleton Road
Elmdon
Saffron Walden
Essex
CB11 4LT
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Eikonika Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Eikonika Limited
Balance Sheet
As at 31 August 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,529
2,211
Current assets
Debtors
4
5,232
6,614
Cash at bank and in hand
91,379
51,192
96,611
57,806
Creditors: amounts falling due within one year
5
(50,703)
(36,903)
Net current assets
45,908
20,903
Net assets
47,437
23,114
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
47,435
23,112
Total equity
47,437
23,114

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 5 March 2024
J Bradshaw
Director
Company Registration No. 03092815
Eikonika Limited
Notes to the Financial Statements
For the year ended 31 August 2023
Page 2
1
Accounting policies
Company information

Eikonika Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bakers Cottage, Ickleton Road, Elmdon, Saffron Walden, Essex, CB11 4LT.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Plant and machinery
25% Reducing Balance
Fixtures, fittings & equipment
25% Reducing Balance
Computer equipment
33% Reducing Balance
Motor vehicles
25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Financial instruments

All of the company's financial assets and liabilities are basic and measured at amortised cost.

Eikonika Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2023
1
Accounting policies
(Continued)
Page 3
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022: 1).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 and 31 August 2023
27,740
Depreciation and impairment
At 1 September 2022
25,529
Depreciation charged in the year
682
At 31 August 2023
26,211
Carrying amount
At 31 August 2023
1,529
At 31 August 2022
2,211
Eikonika Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2023
Page 4
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
4,800
6,206
Other debtors
432
408
5,232
6,614
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
14,627
8,891
Other taxation and social security
3,860
1,637
Other creditors
30,116
24,275
Accruals and deferred income
2,100
2,100
50,703
36,903

 

6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
7
Related party transactions

During the year dividends of £33,500 (2022: £32,000) were paid to the director. Included within other creditors is £24,197 (2022: £18,942) relating to amounts owed to the director.

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