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Registered Number: 07010898
England and Wales

 

 

 


Report of the Director and Unaudited Financial Statements

for the year ended 31 December 2023

for

IBUSINESSLABS LIMITED

 
 
 
£
2023
£
   
£
2022
£
Fixed assets 427  698 
Current assets 135,651  102,001 
Creditors: amount falling due within one year (106,900) (72,720)
Net current assets 28,751  29,281 
Total assets less current liabilities 29,178  29,979 
Creditors: amount falling due after more than one year (28,666) (28,666)
Net assets 512  1,313 
 
Capital and reserves 512  1,313 
 
  1. For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
  2. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies act 2006.
  3. 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 in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the board of directors:


----------------------------------
Leo Tony
Director

Date approved: 20 September 2024
1
Statutory Information
IBUSINESSLABS LIMITED is a private limited company, limited by shares, domiciled in England and Wales, registration number 07010898, registration address 85 Great Portland Street, London, W1W 7LT, United Kingdom.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives.
2.

Tangible fixed assets

Cost or Valuation Fixtures and fittings   Computer equipment   Total
  £   £   £
At 01 January 2023 844    889    1,733 
Additions    
Disposals    
At 31 December 2023 844    889    1,733 
Depreciation
At 01 January 2023 373    662    1,035 
Charge for year 94    177    271 
On disposals    
At 31 December 2023 467    839    1,306 
Net book values
Closing balance as at 31 December 2023 377    50    427 
Opening balance as at 01 January 2023 471    227    698 

3.

Average number of employees

Average number of employees during the year was 2  (2022: 2).
2