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REGISTERED NUMBER: 06116728 (England and Wales)















IONIC METAL TREATMENTS LIMITED

Unaudited Financial Statements for the Year Ended 29 February 2024






IONIC METAL TREATMENTS LIMITED (REGISTERED NUMBER: 06116728)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IONIC METAL TREATMENTS LIMITED

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Amkar Singh Gakhal





REGISTERED OFFICE: 59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX





REGISTERED NUMBER: 06116728 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

IONIC METAL TREATMENTS LIMITED (REGISTERED NUMBER: 06116728)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 140,844 163,004

CURRENT ASSETS
Stocks 1,858 8,582
Debtors 5 263,487 333,357
Cash at bank 418,848 368,427
684,193 710,366
CREDITORS
Amounts falling due within one year 6 201,177 190,762
NET CURRENT ASSETS 483,016 519,604
TOTAL ASSETS LESS CURRENT
LIABILITIES

623,860

682,608

CREDITORS
Amounts falling due after more than one
year

7

(20,833

)

(30,833

)

PROVISIONS FOR LIABILITIES (27,683 ) (23,480 )
NET ASSETS 575,344 628,295

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 575,244 628,195
SHAREHOLDERS' FUNDS 575,344 628,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

IONIC METAL TREATMENTS LIMITED (REGISTERED NUMBER: 06116728)

Balance Sheet - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 April 2024 and were signed by:





Amkar Singh Gakhal - Director


IONIC METAL TREATMENTS LIMITED (REGISTERED NUMBER: 06116728)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Ionic Metal Treatments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

IONIC METAL TREATMENTS LIMITED (REGISTERED NUMBER: 06116728)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 March 2023 128,860 340,935 22,701
Additions - 6,194 -
At 29 February 2024 128,860 347,129 22,701
DEPRECIATION
At 1 March 2023 89,461 226,610 17,818
Charge for year 9,310 17,654 732
At 29 February 2024 98,771 244,264 18,550
NET BOOK VALUE
At 29 February 2024 30,089 102,865 4,151
At 28 February 2023 39,399 114,325 4,883

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 16,525 4,778 513,799
Additions - - 6,194
At 29 February 2024 16,525 4,778 519,993
DEPRECIATION
At 1 March 2023 13,506 3,400 350,795
Charge for year 452 206 28,354
At 29 February 2024 13,958 3,606 379,149
NET BOOK VALUE
At 29 February 2024 2,567 1,172 140,844
At 28 February 2023 3,019 1,378 163,004


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 251,384 323,460
Other debtors 12,103 9,897
263,487 333,357

IONIC METAL TREATMENTS LIMITED (REGISTERED NUMBER: 06116728)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 43,399 52,566
Taxation and social security 71,046 75,943
Other creditors 76,732 52,253
201,177 190,762

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 20,833 30,833

8. ULTIMATE CONTROLLING PARTY

Mr & Mrs Amkar Singh Gakhal are the ultimate controlling party due to their 100% holding of the company's issued share capital.