2 13 August 2024 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 819 819 137 137 682 xbrli:pure xbrli:shares iso4217:GBP 13938252 2023-04-01 2024-03-31 13938252 2024-03-31 13938252 2023-03-31 13938252 2022-02-24 2023-03-31 13938252 2023-03-31 13938252 2022-02-23 13938252 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13938252 bus:Director1 2023-04-01 2024-03-31 13938252 bus:Director2 2023-04-01 2024-03-31 13938252 core:WithinOneYear 2024-03-31 13938252 core:WithinOneYear 2023-03-31 13938252 core:AfterOneYear 2024-03-31 13938252 core:ShareCapital 2024-03-31 13938252 core:ShareCapital 2023-03-31 13938252 core:RetainedEarningsAccumulatedLosses 2024-03-31 13938252 core:RetainedEarningsAccumulatedLosses 2023-03-31 13938252 bus:Director1 2024-03-31 13938252 bus:SmallEntities 2023-04-01 2024-03-31 13938252 bus:Audited 2023-04-01 2024-03-31 13938252 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13938252 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13938252 bus:FullAccounts 2023-04-01 2024-03-31 13938252 bus:OrdinaryShareClass1 2024-03-31 13938252 bus:OrdinaryShareClass1 2023-03-31 13938252 core:OfficeEquipment 2023-04-01 2024-03-31 13938252 core:OfficeEquipment 2024-03-31 13938252 bus:Director1 1 2023-04-01 2024-03-31 13938252 core:ImmediateParent 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 13938252
ISON XPERIENCES UK LIMITED
FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDING
31 March 2024
ISON XPERIENCES UK LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
682
Current assets
Debtors
6
52,764
3,766
Cash at bank and in hand
33,246
9,715
--------
--------
86,010
13,481
Creditors: amounts falling due within one year
7
24,017
40,554
--------
--------
Net current assets/(liabilities)
61,993
( 27,073)
--------
--------
Total assets less current liabilities
62,675
( 27,073)
Creditors: amounts falling due after more than one year
8
458,177
---------
--------
Net liabilities
( 395,502)
( 27,073)
---------
--------
Capital and reserves
Called up share capital
9
1
1
Profit and loss account
( 395,503)
( 27,074)
---------
--------
Shareholders deficit
( 395,502)
( 27,073)
---------
--------
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 comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 13 August 2024 , and are signed on behalf of the board by:
Mr P Kumar
Mr R K Verma
Director
Director
Company registration number: 13938252
ISON XPERIENCES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 8 Devonshire Square, London, EC2M 4YJ.
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.
Going concern
The financial statements have been prepared on a going concern basis. In reaching this decision, the Parent company, ISON Xperiences Limited has taken into account the continuing support required and is prepared to support the Company itself, until such a time as profits are made. The period of this review is limited to one year from the date of approval of these financial statements.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
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.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: Nil).
5. Tangible assets
Equipment
£
Cost
At 1 April 2023
Additions
819
----
At 31 March 2024
819
----
Depreciation
At 1 April 2023
Charge for the year
137
----
At 31 March 2024
137
----
Carrying amount
At 31 March 2024
682
----
At 31 March 2023
----
6. Debtors
2024
2023
£
£
Other debtors
52,764
3,766
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
38,054
Social security and other taxes
18,305
Other creditors
5,712
2,500
--------
--------
24,017
40,554
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
458,177
---------
----
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
35,701
--------
----
11. Summary audit opinion
The auditor's report dated 13 August 2024 was unqualified .
The senior statutory auditor was Dustin Grande , for and on behalf of Sawford Bullard .
12. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr P Kumar
30,888
30,888
----
--------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr P Kumar
----
----
----
This loan is interest bearing at 2.25% and is repayable upon demand.
13. Related party transactions
Included in Creditors due after one year is an amount of £458,177 (2023: £38,054 - due within one year) owed to Ison Xperiences Limited, the parent company. This loan is not interest bearing and is repayable and is not repayable for at least 12 months after the balance sheet date.
14. Controlling party
The parent company of ISON Xperiences UK Limited is ISON Xperiences Limited, a company incorporated in Mauritius. The registered office of ISON Xperiences Limited can be found at: 4th Floor Hennessy Tower Pope Hennessy Street Port Louis Mauritius