IRIS Accounts Production v23.4.0.336 04505441 Board of Directors 1.1.23 31.12.23 31.12.23 19/3/2024 false true false false true true true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh045054412022-12-31045054412023-12-31045054412023-01-012023-12-31045054412021-12-31045054412022-01-012022-12-31045054412022-12-3104505441ns15:EnglandWales2023-01-012023-12-3104505441ns14:PoundSterling2023-01-012023-12-3104505441ns10:Director12023-01-012023-12-3104505441ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3104505441ns10:SmallEntities2023-01-012023-12-3104505441ns10:Audited2023-01-012023-12-3104505441ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3104505441ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104505441ns10:FullAccounts2023-01-012023-12-3104505441ns10:Director22023-01-012023-12-3104505441ns10:Director32023-01-012023-12-3104505441ns10:Director42023-01-012023-12-3104505441ns10:RegisteredOffice2023-01-012023-12-3104505441ns5:CurrentFinancialInstruments2023-12-3104505441ns5:CurrentFinancialInstruments2022-12-3104505441ns5:ShareCapital2023-12-3104505441ns5:ShareCapital2022-12-3104505441ns5:RetainedEarningsAccumulatedLosses2023-12-3104505441ns5:RetainedEarningsAccumulatedLosses2022-12-3104505441ns5:FurnitureFittings2023-01-012023-12-3104505441ns5:ComputerEquipment2023-01-012023-12-3104505441ns5:FurnitureFittings2022-12-3104505441ns5:ComputerEquipment2022-12-3104505441ns5:FurnitureFittings2023-12-3104505441ns5:ComputerEquipment2023-12-3104505441ns5:FurnitureFittings2022-12-3104505441ns5:ComputerEquipment2022-12-3104505441ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3104505441ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 04505441 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

I. K. A. (U.K.) LIMITED

I. K. A. (U.K.) LIMITED (REGISTERED NUMBER: 04505441)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


I. K. A. (U.K.) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr J A Day
Mr T Hillen
Mag Ing A A Hofer
Dr T Seibel





REGISTERED OFFICE: C/o Sanders Swinbank Ltd
1st Floor, North Point
Faverdale North
Darlington
Co. Durham
DL3 0PH





REGISTERED NUMBER: 04505441 (England and Wales)





AUDITORS: Just Audit Limited
Chartered Accountants and Statutory Auditors
Strelley Hall
Strelley
Nottingham
Nottinghamshire
NG8 6PE

I. K. A. (U.K.) LIMITED (REGISTERED NUMBER: 04505441)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 135,595 102,027
Cash at bank 41,835 34,737
177,430 136,764
CREDITORS
Amounts falling due within one year 6 64,598 39,285
NET CURRENT ASSETS 112,832 97,479
TOTAL ASSETS LESS CURRENT LIABILITIES 112,832 97,479

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 112,732 97,379
SHAREHOLDERS' FUNDS 112,832 97,479

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th March 2024 and were signed on its behalf by:





Mr J A Day - Director


I. K. A. (U.K.) LIMITED (REGISTERED NUMBER: 04505441)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

I.K.A. (U.K.) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04505441 and its registered office address is C/o Sanders Swinbank Ltd, 1st Floor, North Point, Faverdale North, Darlington, Co. Durham, DL3 0PH.

The presentation currency is Pound Sterling.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to the fact that the company has the continued support of the group. The directors have been given assurance that this support will continue for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents commissions receivable and costs recharged, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


I. K. A. (U.K.) LIMITED (REGISTERED NUMBER: 04505441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 7,439 7,921 15,360
DEPRECIATION
At 1st January 2023
and 31st December 2023 7,439 7,921 15,360
NET BOOK VALUE
At 31st December 2023 - - -
At 31st December 2022 - - -

I. K. A. (U.K.) LIMITED (REGISTERED NUMBER: 04505441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 115,956 98,999
VAT 3,397 1,359
Prepayments and accrued income 16,242 1,669
135,595 102,027

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,341 2,657
Taxation and social security 8,173 9,919
Other creditors 54,084 26,709
64,598 39,285

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachel Davis BA FCA (Senior Statutory Auditor)
for and on behalf of Just Audit Limited

8. OTHER FINANCIAL COMMITMENTS

At 31 December 2023 the company was committed to making payments under non-cancellable operating leases in the year to 31 December 2024 of £17,507 (2022: £10,747).

The amount payable between one and five years is £17,305 (2022: £17,912).

9. ULTIMATE CONTROLLING PARTY

IKA (UK) Limited is a wholly owned subsidiary of IKA Innovative Kunststoffaufbereitung GmbH & Co.KG, registered office address ChemiePark Bitterfeld Wolfen, Filmstraße 4, 06766 Bitterfeld-Wolfen, Germany.

The parent company of the smallest group into which IKA (UK) Limited is consolidated is IKA Beteiligung und Management GmbH. The registered office of the company is Filmstraße 4, Area A, 06766 Bitterfeld-Wolfen, Germany.

The IKA group is owned by a consortium of industry experts and institutional investors, the largest of which is Invest AG, a private equity fund.