Registered number
11970262
IKAP Limited
Filleted Accounts
31 March 2024
IKAP Limited
Registered number: 11970262
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,108 1,330
Current assets
Debtors 4 - 20,558
Cash at bank and in hand 145,477 333,921
145,477 354,479
Creditors: amounts falling due within one year 5 (360) (48,273)
Net current assets 145,117 306,206
Total assets less current liabilities 146,225 307,536
Creditors: amounts falling due after more than one year 6 65,105 (7,238)
Net assets 211,330 300,298
Capital and reserves
Called up share capital 100 100
Profit and loss account 211,230 300,198
Shareholders' funds 211,330 300,298
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr KHALIL AHMAD
Director
Approved by the board on 5 September 2024
IKAP Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 April 2023 2,225
At 31 March 2024 2,225
Depreciation
At 1 April 2023 895
Charge for the year 222
At 31 March 2024 1,117
Net book value
At 31 March 2024 1,108
At 31 March 2023 1,330
4 Debtors 2024 2023
£ £
Trade debtors - 20,558
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation Tax - 43,173
Other creditors 360 5,100
360 48,273
6 Creditors: amounts falling due after one year 2024 2023
£ £
Director Loan (65,105) 7,238
7 Related party transactions
The Directors Loan was overdrawn as at the year end. This was converted to a Dividend on the 6th April 2024.
8 Controlling party
The company is under the full control of the Directors by virtue of them owning the fully issued share capital.
9 Other information
IKAP Limited is a private company limited by shares and incorporated in England. Its registered office is:
21 THE OVAL
DEWSBURY
WEST YORKSHIRE
WF13 4HR
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