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Company No: 07534990 (England and Wales)

ILUMINA LTD.

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

ILUMINA LTD.

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

ILUMINA LTD.

STATEMENT OF FINANCIAL POSITION

As at 29 February 2024
ILUMINA LTD.

STATEMENT OF FINANCIAL POSITION (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,868 1,124
Investments 4 574,169 583,602
576,037 584,726
Current assets
Debtors 1,003 58
Cash at bank and in hand 3,962 1,141
4,965 1,199
Creditors: amounts falling due within one year 5 ( 2,855) ( 2,708)
Net current assets/(liabilities) 2,110 (1,509)
Total assets less current liabilities 578,147 583,217
Creditors: amounts falling due after more than one year 6 ( 550,000) ( 550,000)
Net assets 28,147 33,217
Capital and reserves
Called-up share capital 7 400 400
Profit and loss account 27,747 32,817
Total shareholders' funds 28,147 33,217

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Ilumina Ltd. (registered number: 07534990) were approved and authorised for issue by the Director on 29 July 2024. They were signed on its behalf by:

David John Lidbetter
Director
ILUMINA LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
ILUMINA LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ilumina Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wayside House, Sellicks Green, Taunton, TA3 7SD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a 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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Statement of financial position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 March 2023 3,398 3,398
Additions 1,399 1,399
Disposals ( 2,100) ( 2,100)
At 29 February 2024 2,697 2,697
Accumulated depreciation
At 01 March 2023 2,274 2,274
Charge for the financial year 655 655
Disposals ( 2,100) ( 2,100)
At 29 February 2024 829 829
Net book value
At 29 February 2024 1,868 1,868
At 28 February 2023 1,124 1,124

4. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 March 2023 583,602 583,602
Additions 127,011 127,011
Disposals ( 160,168) ( 160,168)
Movement in fair value 23,724 23,724
At 29 February 2024 574,169 574,169
Carrying value at 29 February 2024 574,169 574,169
Carrying value at 28 February 2023 583,602 583,602

5. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 2,855 2,708

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other loans 550,000 550,000

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
3,000 A Ordinary shares of £ 0.10 each 300 300
1,000 Ordinary shares of £ 0.10 each 100 100
400 400

8. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Owed to a shareholder of the company 550,000 550,000

The amount is repayable in January 2027 and interest of 1.25% (1.00% until January 2024) is payable on the loan.