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REGISTERED NUMBER: 08660956 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INK EMPLOYEE BENEFITS LIMITED

INK EMPLOYEE BENEFITS LIMITED (REGISTERED NUMBER: 08660956)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INK EMPLOYEE BENEFITS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr W J Johnson
Mrs R D Johnson





REGISTERED OFFICE: 18 The Point
Market Harborough
LE16 7QU





REGISTERED NUMBER: 08660956 (England and Wales)

INK EMPLOYEE BENEFITS LIMITED (REGISTERED NUMBER: 08660956)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 808,000 -
Tangible assets 5 101,783 81,666
909,783 81,666

CURRENT ASSETS
Debtors 6 168,712 78,407
Cash at bank 162,484 300,428
331,196 378,835
CREDITORS
Amounts falling due within one year 7 429,256 108,954
NET CURRENT (LIABILITIES)/ASSETS (98,060 ) 269,881
TOTAL ASSETS LESS CURRENT
LIABILITIES

811,723

351,547

CREDITORS
Amounts falling due after more than one
year

8

(485,162

)

(109,819

)

PROVISIONS FOR LIABILITIES (25,446 ) (15,517 )
NET ASSETS 301,115 226,211

CAPITAL AND RESERVES
Called up share capital 280 280
Share premium 67,462 67,462
Retained earnings 233,373 158,469
SHAREHOLDERS' FUNDS 301,115 226,211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

INK EMPLOYEE BENEFITS LIMITED (REGISTERED NUMBER: 08660956)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





Mr W J Johnson - Director


INK EMPLOYEE BENEFITS LIMITED (REGISTERED NUMBER: 08660956)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Ink Employee Benefits 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
Revenue comprises the fair value of the sale of services, excluding value added tax. The company provides employee benefit services to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on the date the work is performed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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.


INK EMPLOYEE BENEFITS LIMITED (REGISTERED NUMBER: 08660956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023 - 2,601 2,601
Additions 808,000 - 808,000
At 31 December 2023 808,000 2,601 810,601
AMORTISATION
At 1 January 2023
and 31 December 2023 - 2,601 2,601
NET BOOK VALUE
At 31 December 2023 808,000 - 808,000
At 31 December 2022 - - -

INK EMPLOYEE BENEFITS LIMITED (REGISTERED NUMBER: 08660956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 9,743 68,369 35,711 113,823
Additions 31,897 - 6,894 38,791
At 31 December 2023 41,640 68,369 42,605 152,614
DEPRECIATION
At 1 January 2023 6,148 2,279 23,730 32,157
Charge for year 1,681 13,218 3,775 18,674
At 31 December 2023 7,829 15,497 27,505 50,831
NET BOOK VALUE
At 31 December 2023 33,811 52,872 15,100 101,783
At 31 December 2022 3,595 66,090 11,981 81,666

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 108,497 71,990
Other debtors 60,215 6,417
168,712 78,407

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 2,456 2,790
Trade creditors 46,540 8,424
Taxation and social security 106,527 62,043
Other creditors 263,733 25,697
429,256 108,954

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,000 25,000
Hire purchase contracts 32,662 34,819
Other creditors 437,500 50,000
485,162 109,819