0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 31,846 9,554 3,185 12,739 19,107 22,292 xbrli:pure xbrli:shares iso4217:GBP 11962020 2022-05-01 2023-04-30 11962020 2023-04-30 11962020 2022-04-30 11962020 2021-05-01 2022-04-30 11962020 2022-04-30 11962020 2021-04-30 11962020 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-05-01 2023-04-30 11962020 bus:Director1 2022-05-01 2023-04-30 11962020 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-04-30 11962020 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 11962020 core:WithinOneYear 2023-04-30 11962020 core:WithinOneYear 2022-04-30 11962020 core:AfterOneYear 2023-04-30 11962020 core:AfterOneYear 2022-04-30 11962020 core:ShareCapital 2023-04-30 11962020 core:ShareCapital 2022-04-30 11962020 core:RetainedEarningsAccumulatedLosses 2023-04-30 11962020 core:RetainedEarningsAccumulatedLosses 2022-04-30 11962020 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-04-30 11962020 bus:SmallEntities 2022-05-01 2023-04-30 11962020 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11962020 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 11962020 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11962020 bus:FullAccounts 2022-05-01 2023-04-30
COMPANY REGISTRATION NUMBER: 11962020
ISHIMMER LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2023
ISHIMMER LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
ISHIMMER LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
4
19,107
22,292
CURRENT ASSETS
Stocks
769
2,083
Cash at bank and in hand
48
360
----
-------
817
2,443
CREDITORS: amounts falling due within one year
5
( 2,000)
( 3,000)
-------
-------
NET CURRENT LIABILITIES
( 1,183)
( 557)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
17,924
21,735
CREDITORS: amounts falling due after more than one year
6
( 58,185)
( 50,990)
--------
--------
NET LIABILITIES
( 40,261)
( 29,255)
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 40,361)
( 29,355)
--------
--------
SHAREHOLDERS DEFICIT
( 40,261)
( 29,255)
--------
--------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ISHIMMER LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 3 April 2024 , and are signed on behalf of the board by:
Ms A Al Mufleh
Director
Company registration number: 11962020
ISHIMMER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Brand development costs
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Intangible assets
Brand development costs
£
Cost
At 1 May 2022 and 30 April 2023
31,846
--------
Amortisation
At 1 May 2022
9,554
Charge for the year
3,185
--------
At 30 April 2023
12,739
--------
Carrying amount
At 30 April 2023
19,107
--------
At 30 April 2022
22,292
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
2,000
3,000
-------
-------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
58,185
50,990
--------
--------