9
01/01/2023
31/12/2023
2023-12-31
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
No description of principal activities is disclosed
2023-01-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
11227373
2023-01-01
2023-12-31
11227373
2023-12-31
11227373
2022-12-31
11227373
2022-01-01
2022-12-31
11227373
2022-12-31
11227373
2021-12-31
11227373
bus:RegisteredOffice
2023-01-01
2023-12-31
11227373
bus:LeadAgentIfApplicable
2023-01-01
2023-12-31
11227373
bus:Director1
2023-01-01
2023-12-31
11227373
bus:Director2
2023-01-01
2023-12-31
11227373
bus:CompanySecretary1
2023-01-01
2023-12-31
11227373
core:RetainedEarningsAccumulatedLosses
2022-01-01
2022-12-31
11227373
core:RetainedEarningsAccumulatedLosses
2023-01-01
2023-12-31
11227373
core:WithinOneYear
2023-12-31
11227373
core:WithinOneYear
2022-12-31
11227373
core:AfterOneYear
2023-12-31
11227373
core:AfterOneYear
2022-12-31
11227373
core:ShareCapital
2023-12-31
11227373
core:ShareCapital
2022-12-31
11227373
core:RetainedEarningsAccumulatedLosses
2023-12-31
11227373
core:RetainedEarningsAccumulatedLosses
2022-12-31
11227373
core:ShareCapital
2021-12-31
11227373
core:RetainedEarningsAccumulatedLosses
2021-12-31
11227373
core:PreviouslyStatedAmount
core:ShareCapital
2023-12-31
11227373
core:CostValuation
core:Non-currentFinancialInstruments
2022-12-31
11227373
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2023-12-31
11227373
core:CostValuation
core:Non-currentFinancialInstruments
2023-12-31
11227373
core:Non-currentFinancialInstruments
2023-12-31
11227373
core:Non-currentFinancialInstruments
2022-12-31
11227373
bus:Director1
2022-12-31
11227373
bus:Director1
2023-12-31
11227373
bus:Director1
2021-12-31
11227373
bus:Director1
2022-12-31
11227373
bus:Director1
2022-01-01
2022-12-31
11227373
bus:SmallEntities
2023-01-01
2023-12-31
11227373
bus:AuditExemptWithAccountantsReport
2023-01-01
2023-12-31
11227373
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
11227373
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
11227373
bus:AbridgedAccounts
2023-01-01
2023-12-31
11227373
core:Associate1
2023-01-01
2023-12-31
11227373
core:Associate1
2023-12-31
11227373
core:Associate1
2022-12-31
Company registration number:
11227373
Ilharia Holdings Limited
Trading as
Ilharia Holdings Limited
Unaudited abridged financial statements
31 December 2023
Ilharia Holdings Limited
Contents
Directors and other information
Directors report
Accountants report
Abridged statement of comprehensive income
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Ilharia Holdings Limited
Directors and other information
|
|
|
|
Directors |
Mr Zagham Sharif |
|
|
Mrs Homa Sharif |
|
|
|
|
|
|
|
Secretary |
Mrs H Sharif |
|
|
|
|
|
|
|
Company number |
11227373 |
|
|
|
|
|
|
|
Registered office |
Frensham Fencer Hill Park |
|
|
Gosforth |
|
|
Newcastle Upon Tyne |
|
|
NE3 2EA |
|
|
|
|
|
|
|
Accountants |
James Mc Mahon & Co |
|
|
35 Castor Bay Road |
|
|
Lurgan |
|
|
BT67 9LE |
|
|
|
Ilharia Holdings Limited
Directors report
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023.
Directors
The directors who served the company during the year were as follows:
|
Mr Zagham Sharif |
Mrs Homa Sharif |
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
29 August 2024
and signed on behalf of the board by:
Mr Zagham Sharif
Director
Ilharia Holdings Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Ilharia Holdings Limited
Year ended 31 December 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2023 which comprise the abridged statement of comprehensive income, abridged statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
James Mc Mahon & Co
Certified Public Accountants
35 Castor Bay Road
Lurgan
BT67 9LE
29 August 2024
Ilharia Holdings Limited
Abridged statement of comprehensive income
Year ended 31 December 2023
|
|
|
2023 |
2022 |
|
|
|
Note |
£ |
£ |
|
|
|
|
|
|
|
Gross profit |
|
|
226,706 |
|
66,150 |
|
|
|
|
|
|
Staff costs |
|
4 |
31,571 |
|
(
23,506) |
Other operating expenses |
|
|
(
38,837) |
|
(
22,293) |
|
|
|
_______ |
|
_______ |
Operating profit |
|
|
219,440 |
|
20,351 |
|
|
|
|
|
|
Interest payable and similar expenses |
|
|
(
33,200) |
|
(
12,539) |
|
|
|
_______ |
|
_______ |
Profit before taxation |
|
|
186,240 |
|
7,812 |
|
|
|
|
|
|
Tax on profit |
|
|
- |
|
- |
|
|
|
_______ |
|
_______ |
Profit for the financial year and total comprehensive income |
|
|
186,240 |
|
7,812 |
|
|
|
_______ |
|
_______ |
|
|
|
|
|
|
All the activities of the company are from continuing operations.
Ilharia Holdings Limited
Abridged statement of financial position
31 December 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Investments |
|
5 |
2,566,937 |
|
|
|
1,723,530 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
2,566,937 |
|
|
|
1,723,530 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
|
913,319 |
|
|
|
709,207 |
|
|
Cash at bank and in hand |
|
|
100,428 |
|
|
|
144,030 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
1,013,747 |
|
|
|
853,237 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
|
(
3,192,186) |
|
|
|
(
2,203,746) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
2,178,439) |
|
|
|
(
1,350,509) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
388,498 |
|
|
|
373,021 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
|
|
|
(
14,302) |
|
|
|
(
24,192) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
374,196 |
|
|
|
348,829 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
12 |
|
|
|
12 |
Profit and loss account |
|
|
|
|
374,184 |
|
|
|
348,817 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
374,196 |
|
|
|
348,829 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared 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'.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
29 August 2024
, and are signed on behalf of the board by:
Mr Zagham Sharif
Director
Company registration number:
11227373
Ilharia Holdings Limited
Statement of changes in equity
Year ended 31 December 2023
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 January 2022 |
|
12 |
|
421,877 |
421,889 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
7,812 |
7,812 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
7,812 |
7,812 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
(
80,872) |
(
80,872) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total investments by and distributions to owners |
|
- |
|
(
80,872) |
(
80,872) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2022 and 1 January 2023 |
|
12 |
|
348,816
|
348,828
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
186,240 |
186,240 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
186,240 |
186,240 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
(
160,872) |
(
160,872) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total investments by and distributions to owners |
|
- |
|
(
160,872) |
(
160,872) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2023 |
|
12 |
|
374,184 |
374,196 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ilharia Holdings Limited
Notes to the financial statements
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Frensham Fencer Hill Park, Gosforth, Newcastle Upon Tyne, NE3 2EA.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
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 or 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.
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 in finance costs in profit or loss in the period in which it arises.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
9
(2022:
3
).
The aggregate payroll costs incurred during the year were:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Wages and salaries |
|
(
53,330) |
23,506 |
|
Social security costs |
|
17,842 |
- |
|
Other pension costs |
|
3,917 |
- |
|
|
|
_______ |
_______ |
|
|
|
(
31,571) |
23,506 |
|
|
|
_______ |
_______ |
|
|
|
|
|
5.
Investments
|
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 January 2023 |
1,723,530 |
|
|
|
|
|
|
Additions |
843,407 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
At 31 December 2023 |
2,566,937 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 January 2023 and 31 December 2023 |
- |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 December 2023 |
2,566,937 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
At 31 December 2022 |
1,723,530 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr Zagham Sharif |
(
317,538) |
(
139,567) |
(
457,105) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr Zagham Sharif |
(
130,806) |
(
186,732) |
(
317,538) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
7.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£ |
£ |
£ |
£ |
|
Arturo Sebastian Management Limited |
- |
- |
369,152 |
369,152 |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
During the year the company was owed the following by realted parties