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Registered number: 06211335









IRIDIUM CORPORATION LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
IRIDIUM CORPORATION LIMITED
REGISTERED NUMBER: 06211335

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
327,380
327,380

  
327,380
327,380

Total assets less current liabilities
  
 
 
327,380
 
 
327,380

  

Net assets
  
327,380
327,380


Capital and reserves
  

Called up share capital 
  
196
196

Share premium account
  
1,999,904
1,999,904

Profit and loss account
  
(1,672,720)
(1,672,720)

  
327,380
327,380


For the year ended 31 December 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
P J Horak
Director

Date: 24 September 2024

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
IRIDIUM CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Iridium Corporation Limited (the Company) is a company incorporated in the United Kingdom under the Companies Act.
The Company is a private company limited by shares and is registered in England and Wales. The Company's registered office is 3rd Floor, Orion Gate, Guildford Road, Woking, Surrey, GU22 7NJ.
The Company did not undertake any trading activity in the current period.
The financial statements are presented in pounds sterling, which is the functional currency of the Company, and rounded to the nearest whole £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

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.

 
2.3

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees




The average monthly number of employees, including directors, during the year was 0 (2022 - 0).

Page 2

 
IRIDIUM CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
327,380
327,380

327,380
327,380



5.


Controlling party

Crenthorpe Limited is regarded by the directors as being the Company's ultimate parent company, a company incorporated in the Isle of Man with registered number 08183V.
The Company's immediate parent company is The ai Corporation Limited, which registered office is 3rd Floor, Orion Gate, Guildford Road, Woking, Surrey, GU22 7NJ. The largest and smallest group in which the results of the company are consolidated is that headed by The ai Corporation Limited.

Page 3